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837 Gulf Shores Parkway - Hardee's, Gulf Shores, AL

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837 Gulf Shores Parkway - Hardee's

Gulf Shores, AL 36542 - Baldwin County Submarket


Property Type:Retail Sub Type:Fast Food Status:Existing Year Built:1993
Building Size:3,500 SF Land Area:1.02 AC (44,431 SF)
For Sale Price:$1,440,000 Price/SF:$411.43
Cap Rate:6.25 %
Parking:Surface spaces; Ratio of /1,000 SF
Features:Pylon Sign, Signage, Signalized Intersection, Drive Thru



Sale Notes:
Marcus & Millichap is pleased to offer the Hardees restaurant located at 837 Gulf Shores Parkway in Gulf Shores, Alabama. Hardees has operated at this location since 1993 and benefits from a low rent structure, proven store sales, lack of alternative sites, limited area competition, high traffic counts and strong population growth in the area. Hardees building is +/- 3,500 SF and is positioned on a corner lot with a lighted intersection. The site is over 1 acre with 236 front feet on Highway 59, the main North/South artery that provides access to the beaches of the Gulf Coast.

The Tenant, Paradigm Investment Group, LLC, is the 3rd largest Hardees franchisee in the Hardees system with over 110 locations in AL, FL, MS, TN and LA. They operate on an absolute NNN lease that runs through January 31, 2025 with 4 (5) year options to renew. The rent increases 10% in the base term of the lease starting July 1, 2021 and 5% at the beginning of each option period.

Gulf Shores is a coastal city, located in Baldwin County, Alabama on the Gulf of Mexico. Summer months generate a surge of beach going tourists estimated in the hundreds of thousands. Baldwin County has experienced 45% population growth since 2000 and is the fastest growing county in the State.

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




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