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18 Saraland Boulevard N, Saraland, AL

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18 Saraland Boulevard N

Saraland, AL 36571-2408 - Northeast Mobile Submarket

Property Type:Retail Sub Type:- Status:Existing Year Built:2016
Building Size:7,147 SF Land Area:1.29 AC (56,192 SF)
For Sale Price:$941,364 Price/SF:$131.71
Cap Rate:4.25 %

APN R021908330008071

Sale Notes:
Marcus & Millichap, as exclusive advisor to the Seller, is pleased to offer for sale a new construction AutoZone Ground Lease in Saraland (Mobile, MSA) AL. The subject property is positioned on a 1.29 acre lot at the intersection of Highway 43 North and Celeste Road.

The Tenant, Autozone Development, LLC, signed a 15 year absolute NNN ground lease which commenced in November of 2016. The lease is absolute NNN in nature with the Tenant responsible for all expenses. The lease features rent increases of 10% every 5 years in the base term of the lease and in each of the four (5) year options to renew.

The City of Saraland is a bedroom community of Mobile and is located 10 miles north of Mobile. One of the main attractions to the city is its newly formed school system. In, 2008, Saraland broke off from the Mobile County school system and the new school has increased 86% since inception. Saraland has been on a path of growth in recent years with new commercial developments including Tractor Supply, Dollar Tree anchored shopping center, Autozone, CVS, and plans to construct a new Publix and Hospital.

Marcus & Millichap Inc
Andrew Chason
(251) 929-7254

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