New to Market: Rite Aid | Affluent Community – $86K HH Income | 62K VPD At Intersection | Montgomery, Alabama

Agent Info

Michael Gaggo

248.702.0287
mgaggo@encorereis.com

Deno Bistolarides

248.702.0288
denob@encorereis.com

Brandon Hanna

248.702.0290
bhanna@encorereis.com

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Offering Information

6995 Atlanta Hwy
Montgomery, AL 36117

  • Price: $2,300,000
  • Cap. Rate: 8.57%
  • NOI: $197,205
  • Building Size: 11,060SF
  • Lot Size: 1.25 AC

Investment Highlights

  • Double Net Lease | Minimal Landlord Responsibilities
  • Prototypical Build with Drive-Thru
  • Roof Replaced in January 2016 | New 15-Year Warranty
  • Low Price Point Drug Store - Base Rent: $17.83per S/F
  • Montgomery is the Second Largest City in Alabama
  • Four (4), Five-Year Options with Rental Increases
  • Excellent Points of Ingress and Egress from Both Directions
  • Subject Site within Close Proximity to Baptist Medical Center (150-Bed) & Auburn University at Montgomery (5,000 Annual Student Enrollment)
  • Affluent Community | Average Household Income within a 1 Mile Radius is $86,843
  • High Traffic Counts at Intersection | Atlanta Hwy and Taylor Road boasts Combined Traffic Counts of 62,000 VPD +/-
  • Neighboring National Tenants Include: Publix Super Market, CVS, Walgreens, Burger King, Church’s Chicken, Applebee’s, KFC, AutoZone, Regions Bank, BB&T, and more