8356 AL Highway 117
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8356 AL Highway 117
8,125 SF Retail Building Valley Head, AL 35989 $494,117 ($61/SF) 8.50% Cap Rate
Investment Highlights
- Located on the busiest road in Valley Head.
- Population growth increase projected through 2028.
- Near a variety of local sights including Little River Canyon National Preserve.
Executive Summary
The Hurd Net Lease Group of Marcus and Millichap is pleased to exclusively offer for sale the Dollar General located at 8356 AL-117 in Valley Head, Alabama. The investment is being offered at an 8.5% cap rate which represents a price of $494,117.
The subject property is an 8,125 square foot build to suit store located on an 1.89 acre parcel. The tenant operates under a double-net lease structure, which was recently extended for an additional 5 years. There are currently 4.7 years remaining, along with two 5-year options for removal, each with 10% rental increases every five years. Landlord responsibilites are limited to roof, structure, and parking lot. Dollar General contributes $338.00 per month twoard CAM, and pays insurance direct through their national insurance program and reimburses for property taxes.
The subject property is an 8,125 square foot build to suit store located on an 1.89 acre parcel. The tenant operates under a double-net lease structure, which was recently extended for an additional 5 years. There are currently 4.7 years remaining, along with two 5-year options for removal, each with 10% rental increases every five years. Landlord responsibilites are limited to roof, structure, and parking lot. Dollar General contributes $338.00 per month twoard CAM, and pays insurance direct through their national insurance program and reimburses for property taxes.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,125 SF
Building Class
C
Year Built
2006
Price
$494,117
Price Per SF
$61
Cap Rate
8.50%
NOI
$42,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.89 AC
Zoning
Commercial - B1- CENTRAL BUSINESS
Parking
39 Spaces (4.8 Spaces per 1,000 SF Leased)
Frontage
260 FT on Fritz Steel Road
PROPERTY TAXES
Parcel Number | 10-09-32-0-004-028.000 | Improvements Assessment | $140,700 |
Land Assessment | $3,200 | Total Assessment | $143,900 |
PROPERTY TAXES
Parcel Number
10-09-32-0-004-028.000
Land Assessment
$3,200
Improvements Assessment
$140,700
Total Assessment
$143,900
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8356 AL Highway 117
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