Whataburger | 14+yrs Remain Abs NNN Grd Lse 789 Business Park Dr

789 Business Park Dr , Prattville, Alabama, 36066 | 3,500 sq.f | $ 2,690,000

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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