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652 1st St N 2,435 SF Retail Building Alabaster, AL 35007 $1,490,000 ($611.91/SF) 6.32% Cap Rate
Investment Highlights
- Operating at this location since 1988
- Four (4) five-year lease options remain
- Total NNN lease with gross sales provision as additional rent
- 10% rental adjustment per option
Executive Summary
REDUCED PRICE
Located next to the Shelby Baptist Medical Center along the busy Highway 119 corridor, this Arby's restaurant presents a prime investment opportunity. The property features an existing five-year, renewable corporate lease set to expire in September 2029, with four additional five-year options remaining. Each option includes a 10% rental adjustment, ensuring a steady increase in rental income.
Arby's assumed the lease from Jack's Family Restaurant in 1988 and has been successfully operating at this location ever since. This property offers a stable and lucrative investment with the potential for long-term growth. Don't miss out on this exceptional opportunity to invest in a well-established location with a reliable tenant.
Located next to the Shelby Baptist Medical Center along the busy Highway 119 corridor, this Arby's restaurant presents a prime investment opportunity. The property features an existing five-year, renewable corporate lease set to expire in September 2029, with four additional five-year options remaining. Each option includes a 10% rental adjustment, ensuring a steady increase in rental income.
Arby's assumed the lease from Jack's Family Restaurant in 1988 and has been successfully operating at this location ever since. This property offers a stable and lucrative investment with the potential for long-term growth. Don't miss out on this exceptional opportunity to invest in a well-established location with a reliable tenant.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,435 SF
Building Class
C
Year Built
1970
Price
$1,490,000
Price Per SF
$611.91
Cap Rate
6.32%
NOI
$94,107
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.40 AC
Frontage
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signalized Intersection
Nearby Major Retailers
Property Taxes
| Parcel Number | 13-7-35-4-001-002-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $152,140 |
Property Taxes
Parcel Number
13-7-35-4-001-002-000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$152,140
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