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302 S Mckenzie Street - Goodyear, Foley, AL

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302 S Mckenzie Street - Goodyear

Foley, AL 36535-1927 - Baldwin County Submarket

Property Type:Retail Sub Type:Auto Repair Status:Existing Year Built:1968
Building Size:6,030 SF Land Area:.23 AC (9,993 SF)
For Sale Price:$291,386 Price/SF:$48.32
Cap Rate:6.70 %

Sale Notes:
Opportunity to acquire a 6.7% cap rate Goodyear store with a corporate guarantee and huge upside rent potential. The property is well located in the Gulf Shores, Orange Beach area of Alabama only 10 miles from the new OWA $500 million amusement and entertainment park currently under construction.

The subject location is an investment leased property operated by the Goodyear Tire & Rubber Company backed by a corporate guarantee. The landlord is responsible for the heating and air conditioning unit, exterior premises, roof, structure, foundation, real estate taxes and insurance. Tenant is responsible for all utilities.

The property is located at 302 South McKenzie St., Foley, Alabama. It is a freestanding 6,030 square foot building in the CBD situated on a .23-acre corner lot. There are approximately 2 years remaining on the existing lease term with 2 renewal options. The first option is for 2 years and the second option is for 3 years, each with 5% rental increases. The town' s main thoroughfare HWY 59 runs directly in front of the property.

Bull Realty Inc.
Michael Bull
(404) 876-1640 x101

Peter M Paglio
(404) 876-1640

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