The Stricklin Building 315 N Court St 24 Room Hotel Florence, AL 35630 $8,425,320 CAD ($351,055 CAD/Room) 8.29% Cap Rate

Marcus and Millichap is pleased to exclusively offer for sale, The Stricklin Building, a fully leased mixed-use investment opportunity located in the historic downtown district of Florence. Originally constructed in 1946 and extensively renovated in 2018, the property contains approximately 30,000 square feet of gross leasable area and is anchored by The Stricklin Hotel, a modern 24-room boutique hotel and event center. The property is 100% triple-net (NNN) leased, providing investors with stable, passive income while minimizing landlord responsibilities. Positioned in vibrant downtown Florence, the building offers hotel guests and visitors immediate walkable access to the city’s restaurants, retail, nightlife, and entertainment venues.
The asset is further strengthened by three complementary NNN tenants that enhance income diversification. Big Bad Breakfast occupies the highly visible ground-floor retail space with frontage along North Court Street. The basement level houses The Boiler Room, an upscale entertainment venue featuring bowling lanes, darts, shuffleboard, and a full-service bar. A boutique gift shop completes the tenant mix. The tenant roster carries a weighted average remaining lease term of approximately eight years, providing long-term income stability.
With a population of roughly 156,000, Florence serves as the primary economic hub of northwestern Alabama. The area has experienced more than 5% population growth since the 2020 Census. Strategically located approximately 60 miles west of Huntsville and 120 miles south of Nashville, two of the fastest growing metropolitan areas in the United States, the region benefits from expanding economic activity, tourism, and regional connectivity.