3203 Memorial Parkway NW
Huntsville, AL 35810 ·
3,780 SF · Retail For Sale
|Building Size||3,780 SF||Tenancy||Single|
|Property Type||Retail||Year Built||1997|
|Property Sub-type||Vehicle Related||Lot Size||27,382 SF|
|Property Use Type||Investment|
|Listing ID: 14630613||Date Created: 05/22/2006||Last Updated: 12/29/2006|
The subject property is located on Memorial Parkway NW in Huntsville, Alabama. This Express Oil is 3,780 square feet and sits on a 27,382 square foot parcel of land. The investment is an absolute NNN deal with a new 20-year lease. The property has an initial cap rate of 7.50% and zero landlord responsibilities. The new lease includes 10% rent increases every five years and four 5-year options. The blended cap rate over the original term of the lease is 8.59%. The property was opened in 1997. The lease has a corporate guarantee from Express Oil.
Please view our other Express Oil Loopnet listings: 14562495, 14630533, 14563355, 14628451, 14628438, 14630581, 14563436, 14632369, 14628478, 14632302, 14562477, 14628427, 14630716, 14630549, 14568959, 14562485, 14568931, 14568917, 14630705, 14632282, 14630622, 14630543, 14568905, 14630636, 14563398, 14628489, 14628495, 14562508, 14563248
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This Property is located on the Memorial Pkwy., the primary North-South artery in Huntsville, AL. This high trafiic location will be adding a freeway in the middle of the pkwy that will allow for this property to continue to thrive as an extremely visual location.
Directly behind the Express Oil Change a new Wal-Mart Supercenter has just opened. There is an Advance Auto Parts adjacent on the south side as well as an Autozone loacted next to the Advance Auto. Across the street from the loaction is a newly opened shopping center with a Tractor Supply, Big Lots!, and Fred s. Other retailers in the immediate vicinity include: Lowe s, Starbucks, Sonic, Captain D s, Popeye s, Applebee s and Lee s Chicken.
The building is constructed of brick and block and has 7 bays and remains in good condition.
- True NNN Lease
- Located on Memorial Parkway in Huntsville, AL
- Initial cap rate of 7.50%
- Traffic count on Memorial Parkway is over 35,000 vehicles per day
- New 20-year NNN lease with 10% rent increases every five years
- The property is directly behind a Wal-Mart Supercenter
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