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Hwy 55 | New 20-Year Absolute NNN 3306 Cloverdale rd

2,152 SF Retail Building Florence, AL 35633 $2,622,657 ($1,219/SF) 7% Cap Rate

Investment Highlights

  • Brand New 2023 High-Quality Construction (Now Open)
  • 10% Rent Increases Every 5-Years in Primary Term & Options
  • Traffic Counts Exceed 22,000 Vehicles Per Day
  • 20-Year Absolute NNN Lease (Zero Landlord Responsibilities)
  • Located in Dense Retail Trade Area Adjacent to Taco Bell, Slim Chickens, Dollar General, & Advance Auto Parts
  • Corporate Guarantee from Hwy 55 --- Hwy 55 Has Evolved into an Iconic Brand in the Southeast Now with Over 140 Locations

Executive Summary

The subject property is a newly constructed Hwy 55 Burgers, Shakes & Fries drive-thru located in Florence (Outside Huntsville), AL. The brand new 20-year absolute NNN lease is corporately guaranteed by Hwy 55 and includes 10% rental increases every 5-years in the primary term and in the (4) five-year option periods.
This brand-new Hwy 55 just opened for business and is strategically located in a dense retail trade area adjacent to Taco Bell, Slim Chickens, Dollar General, and Advance Auto Parts. The property shares access with a new Slim Chickens and Taco Bell drive-thru and benefits from its excellent visibility along Cloverdale Road, which boasts over 22,000 vehicles per day. National retailers in the immediate vicinity include Walmart, CVS, Zaxby’s, Culver’s, Verizon, Dollar General, Dollar Tree, Advance Auto Parts, McDonald’s, O’Reilly Auto Parts, and many more. This is an excellent opportunity for an investor to purchase a stable, long-term investment with zero landlord responsibility.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,152 SF
Year Built
2023
Price
$2,622,657
Price Per SF
$1,219
Cap Rate
7%
NOI
$183,586
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Land Acres
1.07 AC

Amenities

  • Drive Thru
  • Listing ID: 33512378

  • Date on Market: 10/14/2024

  • Last Updated:

  • Address: 3306 Cloverdale rd, Florence, AL 35633

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