Community Auto Repair 302 5th Ave SW 4,500 SF Retail Building Cullman, AL 35055 $900,000 ($200/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- New 15-Year Lease
- Attractive Rent Increases
- High Traffic Location
- Absolute NNN
- Functional Building
EXECUTIVE SUMMARY
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee simple interest in the Community Auto Repair asset located at 302 5th Ave SW in Cullman, AL (the “Property”). The property is an established auto repair business with strong sales.
The Property is a 4,500 square foot freestanding auto repair shop, complete with four service bays on a 0.50-acre parcel of land.
Community Auto Repair will commence a 15-year absolute NNN lease with no Landlord responsibilities upon close of escrow. The brand-new lease features 2% rental increases annually during the base lease term and at the beginning of each of the four (4), five (5) year renewal option periods.
The Property is a 4,500 square foot freestanding auto repair shop, complete with four service bays on a 0.50-acre parcel of land.
Community Auto Repair will commence a 15-year absolute NNN lease with no Landlord responsibilities upon close of escrow. The brand-new lease features 2% rental increases annually during the base lease term and at the beginning of each of the four (4), five (5) year renewal option periods.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
4,500 SF
Building Class
C
Year Built
1998
Price
$900,000
Price Per SF
$200
Cap Rate
7%
NOI
$63,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
0.50 AC
Opportunity Zone
Yes
Parking
6 Spaces
Frontage
231’ on 3rd Avenue Southwest
AMENITIES
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 17-05-15-2-036-002.000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $40,700 |
