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9190 Parkway E - Sprint, Birmingham, AL

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9190 Parkway E - Sprint

Birmingham, AL 35206 - Center Point Submarket

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:2006
Building Size:1,836 SF Land Area:.43 AC (18,731 SF)
For Sale Price:$795,000 Price/SF:$433.01
Cap Rate:6.06 %
Parking:Free Surface spaces are available; Ratio of 7.65/1,000 SF
Features:Freeway Visibility, Out Parcel, Signalized Intersection

Sale Notes:
SRS National Net Lease Group is pleased to present the rare opportunity to acquire Sprint, a NN leased, corporate guaranteed, investment property located in Birmingham, Alabama. The tenant, Sprint Spectrum L.P. recently signed a brand new 10-year lease, with 2 (5-year) option periods. The lease features 10% rental increase in year 5 of the initial term as well as at the beginning of each option terms. The building is currently undergoing a complete renovation with high quality materials used and modern facade. The lease is corporate guaranteed by Sprint Spectrum LP and is NN with limited landlord responsibilities including roof, structure, utility lines, and HVAC.

SRS National Net Lease Group
Patrick R Luther
(949) 698-1115

Matthew Mousavi
(949) 698-1116

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