About This Restaurant
Investment Highlights
14+ Years Remaining | Options To Extend | Scheduled Rental Increases Close Proximity to Walmart & Publix | Retail Corridor |Strong National/Credit Tenant Presence Direct, Affluent Consumer Base | Major Developments Nearby |Strong Demographics In Trade Area Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities Signalized, Hard Corner Intersection | Excellent Visibility |Significant Street Frontage | Large Pylon Sign
Executive Summary
SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Whataburger investment property located in Prattville, Alabama. The tenant, Whataburger Restaurants, LLC recently signed a brand new 15-year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The tenant has approximately 14.5 years remaining on the lease. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Fast Food Fast Food General Retail Freestanding General Retail Restaurant Fast Food
- Building Size 3,500
- Building Class B
- Year Built/Renovated 2001/2023
- Price 2,690,000
- Price Per SF 769
- Cap Rate 5.02
- NOI 135,000
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.06
- Land Acres 1.26 AC
- Opportunity Zone Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Amenities
- Corner Lot
- Freeway Visibility
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
Nearby Amenities & Transportation
Retail | Waffle House | ||
Retail | Fazoli's | ||
Retail | Cracker Barrel Old Country Store | ||
Retail | Curves | ||
Retail | Regions Bank | ||
Retail | Storage Sense | ||
Retail | Jazzercise | ||
Retail | 1st Heritage Credit | ||
Retail | The YMCA | ||
Retail | Woodforest Bank |
Property Taxes
Parcel Number | 26-03-06-0-001-002008-0 | Improvements Assessment | $96,792 |
Land Assessment | $116,058 | Total Assessment | $212,850 |
Date Created: | 2024-07-16 04:09:19 | Last Updated: | 2024-07-16 04:09:19 |
Address: | 789 Business Park Dr , Prattville, Alabama, 36066 |