Former Drug Store

Prime Hard Corner Retail Real Estate – Strategically positioned on the signalized hard corner of Center Point Parkway and 23rd Avenue NE in Center Point, the property benefits from excellent visibility, multiple access points, and strong traffic counts along one of the primary retail corridors serving the eastern Birmingham metro. Center Point Parkway sees approximately 25,000 vehicles per day, supporting strong consumer exposure and long-term retail demand.

Purpose-Built Single Tenant Retail Building – Originally developed as a prototype Walgreens location, the property features an efficient rectangular footprint, generous parking, multiple ingress/egress points, and prominent monument signage. The functional layout is well-suited for a variety of retail, medical, discount, grocery, or service-oriented users seeking high-visibility frontage with drive-thru capability.
Value-Add Leasing Opportunity – The current vacancy provides investors with the opportunity to secure a new tenant at market rental rates, creating potential upside compared to legacy drugstore lease structures that often include limited rental growth. This flexibility allows investors to reposition the asset and potentially increase yield through lease-up and rent optimization.
Attractive Basis Relative to Replacement Cost – Existing site improvements, utility infrastructure, parking field, and entitlements create a substantial barrier to entry for new competing developments. Investors benefit from acquiring a freestanding retail asset with strong frontage and redevelopment flexibility at a basis likely below today’s replacement cost.
Established Retail Corridor with National Tenancy – The surrounding trade area is anchored by a strong mix of national retailers and service providers including Dollar Tree, Dollar General, Regions Bank, Firestone, and DaVita, reinforcing the corridor’s stability and continued demand from national and regional tenants.

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