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1808 US Highway 98 6,800 SF Retail Building Daphne, AL 36526 $1,511,000 ($222.21/SF) 6.75% Cap Rate
Investment Highlights
- Long-Term NNN Lease: 5 year extension executed with zero landlord responsibilities
- Attractive Returns: Offered at a 6.75% cap rate
- Strategic Location: Positioned along US-98 in Daphne, AL, a well trafficked retail corridor with strong visibility
- Credit Tenant: Leased to O'Reilly Auto Parts, a nationally recognized and established automotive retailer
- Rent Growth: Built-in 8.0% rent increases every five years throughout the base term and renewal options
- Efficient Asset Size: ±6,800 SF building situated on a 0.56-acre parcel, ideal for long-term single-tenant occupancy
Executive Summary
Fortis Net Lease is pleased to present the opportunity to acquire a single-tenant net lease investment occupied by O'Reilly Auto Parts, located at 1808 US-98 in Daphne, Alabama. The property consists of a ±6,800-square-foot retail building situated on a 0.56-acre parcel along a well-trafficked retail corridor. The asset is offered at an asking
price of $1,511,000, representing an attractive 6.75% cap rate and generating a stable net operating income of $102,000. This investment provides investors with a strong national tenant in a growing Gulf Coast market. The lease is structured as a triple net (NNN) lease with approximately 20 years remaining on the primary term, offering a passive, management-free investment. The lease includes three (5-year) renewal options, providing long-term income security, along with favorable rent escalations of 8.0% every five years throughout the initial term and option periods. Backed by a well-established and creditworthy tenant, this offering presents an ideal opportunity for investors seeking predictable cash flow, inflation protection, and long-term stability.
price of $1,511,000, representing an attractive 6.75% cap rate and generating a stable net operating income of $102,000. This investment provides investors with a strong national tenant in a growing Gulf Coast market. The lease is structured as a triple net (NNN) lease with approximately 20 years remaining on the primary term, offering a passive, management-free investment. The lease includes three (5-year) renewal options, providing long-term income security, along with favorable rent escalations of 8.0% every five years throughout the initial term and option periods. Backed by a well-established and creditworthy tenant, this offering presents an ideal opportunity for investors seeking predictable cash flow, inflation protection, and long-term stability.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,800 SF
Building Class
C
Year Built
2006
Price
$1,511,000
Price Per SF
$222.21
Cap Rate
6.75%
NOI
$102,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
0.56 AC
Zoning
B-2
Parking
30 Spaces (5.94 Spaces per 1,000 SF Leased)
Frontage
127’ on Us-98
Amenities
- Signage
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 43-04-17-3-000-053.000 | Improvements Assessment | $154,160 |
| Land Assessment | $64,360 | Total Assessment | $218,520 |
Property Taxes
Parcel Number
43-04-17-3-000-053.000
Land Assessment
$64,360
Improvements Assessment
$154,160
Total Assessment
$218,520
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1808 US Highway 98
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