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Jim 'N Nick's 3320 Montgomery Hwy 6,529 SF Retail Building Dothan, AL 36303 $4,174,000 ($639.30/SF) 5.75% Cap Rate
Executive Summary
ATTRACTIVE LEASE FUNDAMENTALS
- Fifteen year initial term
- 10% rent increase every 5 years and during option periods
- Absolute NNN Ground lease with no early termination clause
- Three (3) - Five (5) year option periods
CORPORATE LEASE WITH A GROWING BRAND
- Lease signed with Jim ‘N Nicks corporate
- 49 locations with more than 30 expected to open over the next 3 years
- Strong credit tenant with new fast casual concept
LOCATED IN A COMMERCIAL CORRIDOR
- Over 2.5MSF of retail space located in a 1-mile radius
- Outparcel to the Wiregrass Commons Mall boasting 638k sqft and over 50 retail stores
- Anchor tenants include: Belk, Dillards, JCPenney, and more
WIREGRASS INNOVATION CENTER
- Just down the road from the asset the Wiregrass Innovation Center is being developed
- 45,000 SF building that will house the HudsonAlpha Institute for Biotechnology
- The 30 million dollar building is set to be completed in late 2025 10%
NEW CONSTRUCTION
- Newly built building with Jim ‘N Nick’s prototype
- 1.9 acre lot with great parking ratio
- Fifteen year initial term
- 10% rent increase every 5 years and during option periods
- Absolute NNN Ground lease with no early termination clause
- Three (3) - Five (5) year option periods
CORPORATE LEASE WITH A GROWING BRAND
- Lease signed with Jim ‘N Nicks corporate
- 49 locations with more than 30 expected to open over the next 3 years
- Strong credit tenant with new fast casual concept
LOCATED IN A COMMERCIAL CORRIDOR
- Over 2.5MSF of retail space located in a 1-mile radius
- Outparcel to the Wiregrass Commons Mall boasting 638k sqft and over 50 retail stores
- Anchor tenants include: Belk, Dillards, JCPenney, and more
WIREGRASS INNOVATION CENTER
- Just down the road from the asset the Wiregrass Innovation Center is being developed
- 45,000 SF building that will house the HudsonAlpha Institute for Biotechnology
- The 30 million dollar building is set to be completed in late 2025 10%
NEW CONSTRUCTION
- Newly built building with Jim ‘N Nick’s prototype
- 1.9 acre lot with great parking ratio
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,529 SF
Building Class
C
Year Built
1998
Price
$4,174,000
Price Per SF
$639.30
Cap Rate
5.75%
NOI
$240,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.90 AC
Zoning
B2 - Highway Commercial
Parking
140 Spaces (21.44 Spaces per 1,000 SF Leased)
Frontage
110’ on Montgomery Highway
Nearby Major Retailers
Property Taxes
| Parcel Number | 09-02-10-2-000-001-007 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $183,140 |
Property Taxes
Parcel Number
09-02-10-2-000-001-007
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$183,140
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Jim 'N Nick's | 3320 Montgomery Hwy
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