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652 1st St N 2,435 SF Retail Building Alabaster, AL 35007 $2,036,905 CAD ($836.51 CAD/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
$2,036,905 CAD
Price Per SF
$836.51 CAD
Cap Rate
6.32%
NOI
$128,649 CAD
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 CAD |
| Land Assessment | $0 CAD | Total Assessment | $207,983 CAD |
Property Taxes
Parcel Number
13-7-35-4-001-002-000
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$207,983 CAD
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652 1st St N
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