Northern Tool & Equipment 495 Southland Dr 17 936 pi² Commerce de détail Immeuble Vestavia, AL 35226 5 248 934 $ CAD (292,65 $ CAD/pi²) 6,75% Taux de capitalisation

The Issenberg Britti Group of Surmount is pleased to present for sale the fee-simple interest in this single-tenant, net-leased Northern Tool + Equipment located at the northwest quadrant of U.S. Highway 31 and Southland Drive in Hoover, Alabama. The 17,936-square-foot building sits on approximately 1.79 acres (77,972 SF) along Montgomery Highway (U.S. 31), a primary northsouth commercial corridor through Hoover with traffic counts exceeding 37,800 vehicles per day along the same corridor.
The property is subject to an absolute triple net (NNN) lease originally executed in October 2013, most recently extended via a Third Amendment establishing a new base term from August 1, 2026 through July 31, 2031 at an annual rent of $257,114 . The tenant is responsible for taxes, insurance, and all maintenance and repairs, including the roof, exterior walls and interior walls, providing true zero landlord responsibility.
The lease is held directly by Northern Tool & Equipment Company, Inc (Corporate Guarantee). Founded in 1981 and headquartered in Burnsville, Minnesota, Northern Tool + Equipment operates more than 130 retail locations across roughly 20+ states alongside a robust ecommerce platform, with estimated annual revenue of approximately $1.5–$1.6 billion. The company designs and manufactures a portfolio of proprietary brands, including NorthStar, Powerhorse, Klutch and Ironton, supporting a diversified, less commoditized retail model.
Hoover, Alabama is the largest suburb of Birmingham and a key submarket within the Birmingham-Hoover Metropolitan Statistical Area, with a 2026 population of approximately 93,000 residents and a median household income of approximately $109,000, among the highest of any city in the state. The property is minutes from Riverchase Galleria, the largest enclosed shopping mall in Alabama and home to the region's only Costco, as well as Publix-anchored Hoover Place and a wide range of established national retailers along the Montgomery Highway corridor.