10 Gilmer Ave - Drug Store FOR SALE


Tallassee, AL 36078
$2,199,500 USD
205-790-1288
10 Gilmer Ave, Tallassee, AL for Sale
$2,199,500 USD
Drug Store - FOR SALE
1/12
null | 7.15% Cap Rate

10 Gilmer Ave
Tallassee, AL 36078


OVERVIEW

Engel Realty Company is pleased to exclusively market for sale a single tenant net leased CVS Pharmacy located in Tallassee, AL. CVS together with its subsidiaries, is the largest pharmacy provider in the United States. The original lease terms runs through January 2031 leaving over 7 years remaining on the primary term. CVS has been successfully operating since 2010, and has 6 options to renew for a period 5 years each. The lease is triple net which presents no landlord responsibilities. The lease also features a corporate guaranty from CVS at below market rents comparatively to similar national pharmacy retailers. Located in historic Tallassee, AL 37 miles east of capital City Montgomery, AL and part of the Montgomery MSA, and approximately 40 miles west of Auburn, AL.

FOR SALE DETAILS

PRICE

$2,199,500 USD

PRICE/SF

$194 USD /SF

CAP RATE

7.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS Investment Sale New June 2025 Pricing

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

48

LAND DETAILS

LAND ACRES

1.4 AC

LAND SF

60,984 SF

ZONING

-

APN/PARCEL ID

20-04-18-3-304-001001-0

ASK ABOUT THIS PROPERTY

Michael JohnsonEngel Realty Company, LLCMore Info
205-790-1288

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Michael JohnsonEngel Realty Company, LLCMore Info
205-790-1288

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.