Bass Pro Shops | 3+yrs Remain Corp Gross Lse | 20000 Bass Pro Dr
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Bass Pro Shops | 3+yrs Remain Corp Gross Lse 20000 Bass Pro Dr
136,075 SF 4-Star Retail Building Spanish Fort, AL 36527 $7,747,000 ($57/SF) 7% Cap Rate
Investment Highlights
- Over 3 Years Remaining | 50 Additional Years in Option Periods | Corporate Guaranteed | Well-Known & Established Brand
- Co-Anchor to Spanish Fort Town Center (461K+ SF) | Nearby Major Shopping Centers | Strong National Tenant Presence
- Located Along Bass Pro Drive | Centralized Location | Excellent Visibility & Access
- Modified Gross Lease | Leased Fee Ownership
- Strong Consumer Draw | High Intrinsic Value | Minimal Competition
- Direct Residential Consumer Base | Affluent Community |Demographics in 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in a freestanding, corporate guaranteed, Bass Pro Shops investment property located in Spanish Fort, AL (Mobile MSA). The tenant, Bass Pro Outdoor World, LLC, has over 3 years of firm term remaining with an additional 10 (5-year) option periods to extend. The tenant is operating on a modified gross lease and is currently paying base rent per their minimum required threshold (see pages 5 & 14 for details). Founded in 1972, Bass Pro Shops is North America’s premier outdoor and conservation company with 200 operating locations.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
136,075 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2008
Price
$7,747,000
Price Per SF
$57
Cap Rate
7%
NOI
$542,261
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Land Acres
15.90 AC
Zoning
B-3 - General Business
Parking
760 Spaces (5.59 Spaces per 1,000 SF Leased)
Frontage
696 FT on Bass Pro Drive
Amenities
- Freeway Visibility
- Pylon Sign
- Signage
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 32-09-31-0-000-001.001 | Improvements Assessment | $1,138,420 |
Land Assessment | $96,360 | Total Assessment | $1,234,780 |
PROPERTY TAXES
Parcel Number
32-09-31-0-000-001.001
Land Assessment
$96,360
Improvements Assessment
$1,138,420
Total Assessment
$1,234,780
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Bass Pro Shops | 3+yrs Remain Corp Gross Lse | 20000 Bass Pro Dr
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