Kohl's | 4yrs Remain Corp NNN w/ Incrs | 21000-21500 Town Center Ave
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Kohl's | 4yrs Remain Corp NNN w/ Incrs 21000-21500 Town Center Ave
86,970 SF 4-Star Retail Building Spanish Fort, AL 36527 $4,232,000 ($49/SF) 7.50% Cap Rate
Investment Highlights
- 4 Years Remaining | Scheduled Rental Increases | Corporate Signature | Well-Known & Established Brand
- Co-Anchor to Spanish Fort Town Center (461K+ SF) | Major Nearby Shopping Centers | Strong National Tenant Presence
- Direct Residential Consumer Base | Affluent Community |Demographics in 5-Mile Trade Area
- NNN Leased | Leased Fee Ownership | Limited Landlord Responsibilities
- Located Along Town Center Avenue | Centralized Location | Mobile MSA | Excellent Visibility & Access
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in a NNN leased, freestanding, Kohl’s investment property located in Spanish Fort, AL (Mobile MSA). The tenant, Kohl’s, Inc., has over 4 years of firm term remaining with an additional 6 (5-year) option periods left to extend. The lease features 5% rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by the corporate entity and
is NNN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. Founded in 1927, Kohl’s is a leading American department store retail chain with over 1,100 operating stores throughout 49 states.
is NNN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. Founded in 1927, Kohl’s is a leading American department store retail chain with over 1,100 operating stores throughout 49 states.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Department Store
Building Size
86,970 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2008
Price
$4,232,000
Price Per SF
$49
Cap Rate
7.50%
NOI
$317,422
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.28
Lot Size
7.20 AC
Zoning
B-3 - General Business
Parking
479 Spaces (5.51 Spaces per 1,000 SF Leased)
Amenities
- Freeway Visibility
- Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $855,180 | |
| Land Assessment | $61,620 | Total Assessment | $916,800 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$61,620
Improvements Assessment
$855,180
Total Assessment
$916,800
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Kohl's | 4yrs Remain Corp NNN w/ Incrs | 21000-21500 Town Center Ave
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