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24044 US Highway 80 W
Demopolis, AL 36732
Retail Property For Sale
Investment Highlights
- Recent Five Year Executed Option Period
- 8+ Acres of Industrial Outdoor Storage (IOS)
- Two (5) Year Option Remaining
- Major Improvements Paid By Tenant
- Expanded 4+ Acres In recent Extension
Executive Summary
Fortis Net Lease is pleased to present this freestanding industrial property, fully leased to the international tenant Sunbelt Rentals. Sunbelt recently executed their first five-year option period, extending the lease.
With the recent extension, the lease now has over 4+ Years remaining in the current term, plus Two remaining five-year options. The property is structured as a NN (double net) lease, minimizing landlord responsibilities to primarily roof, Structure, Foundation. The lease also includes a 2% annual rent increase to help hedge against inflation.
Constructed in 2018 and improved in 2021 when Sunbelt first leased the premises, the property now sits on over 8 acres with Sunbelt electing to lease the additional 4+/- acres signed into the recent lease amendment, providing ample space for the tenant’s desired Industrial Outdoor Storage (IOS). Along with the recent extension, Sunbelt Rentals has paid for Major Improvements to the site.
This is an excellent opportunity for an investor seeking a passive income-producing asset with minimal landlord involvement and a creditworthy international tenant in place.
With the recent extension, the lease now has over 4+ Years remaining in the current term, plus Two remaining five-year options. The property is structured as a NN (double net) lease, minimizing landlord responsibilities to primarily roof, Structure, Foundation. The lease also includes a 2% annual rent increase to help hedge against inflation.
Constructed in 2018 and improved in 2021 when Sunbelt first leased the premises, the property now sits on over 8 acres with Sunbelt electing to lease the additional 4+/- acres signed into the recent lease amendment, providing ample space for the tenant’s desired Industrial Outdoor Storage (IOS). Along with the recent extension, Sunbelt Rentals has paid for Major Improvements to the site.
This is an excellent opportunity for an investor seeking a passive income-producing asset with minimal landlord involvement and a creditworthy international tenant in place.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,500 SF
Building Class
B
Year Built
2018
Price
$2,652,994 CAD
Price Per SF
$353.73 CAD
Cap Rate
6.33%
NOI
$167,826 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.02
Lot Size
8.00 AC
Zoning
C-1 - Commercial
Property Taxes
| Parcel Number | 06-03-08-0-000-002-0000 | Improvements Assessment | $0 CAD |
| Land Assessment | $751 CAD | Total Assessment | $751 CAD |
Property Taxes
Parcel Number
06-03-08-0-000-002-0000
Land Assessment
$751 CAD
Improvements Assessment
$0 CAD
Total Assessment
$751 CAD
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