114 Heart of Huntsville Dr - Fast Food FOR SALE


Huntsville, AL 35801- Downtown Huntsville
$2,821,000 USD
610-469-4000
114 Heart of Huntsville Dr, Huntsville, AL for Sale
$2,821,000 USD
Fast Food - FOR SALE
1/7
null | 5.85% Cap Rate

114 Heart of Huntsville Dr
Huntsville, AL 35801
Downtown Huntsville


HIGHLIGHTS

  • Situated along Clinton Ave W off Memorial Pkwy SW (140,400 VPD)
  • $124K Average Household Income within 5-Mile Radius of Property
  • Proximate to top performing Costco & Shopping Center in the State (Placer.ai)
  • Outparcel To The Recently Developed 219-Unit Apartment Complex

OVERVIEW

Diversified Partners (DP) is pleased to offer the opportunity to acquire the fee-simple interest in a 2,475 square foot freestanding, new construction single-tenant Starbucks located at Clinton at Parkway Access in Huntsville, AL (“Property” or “Asset”). The Asset is 100% leased to Starbucks Corporation (“Starbucks” or “Tenant”) with approximately 9.0 years remaining on the primary lease term. The Asset features six, five-year renewal options with 10% rent increases in each option period. The Property was delivered in the third quarter of 2024 as a build-to-suit for the Tenant. Huntsville is the largest city in Alabama and was recently ranked in the Top 10 Southeastern cities on the rise. According to U.S. News & World Report, Huntsville is the #2 Best Place to Live in the U.S. and the #1 Best Place to Live in Alabama in 2023. Located just a mile west of downtown Huntsville, the Property is a rare, highway location that sits right off the Clinton Avenue West exit of Memorial Parkway Southwest in a dense commercial corridor with high traffic counts of 140,400+ vehicles per day and over 124,400 residents within a five-mile radius. Within a one-mile radius, the area has seen an astounding 16.7% population growth since 2020. Notably, the Property is situated as an outparcel to a mixed-use development featuring the Constellation Apartment Homes, a recently constructed, 219-unit apartment complex, the SpringHill Suites Huntsville Downtown location, a 250,000 SF office building, a bank tenant, and a restaurant tenant. Along the corridor, there is a Costco, Home Depot, Planet Fitness, Krispy Crème, and the Parkway Place Shopping Center that are all ranked in the top percentile for their respective brands, per Placer.ai. The Asset is also proximate to the Front Row, a $375M mixed-use development; the Von Braun Center, a 10,000-seat entertainment hall; Huntsville High School, with over 1,800+ students enrolled; and the Huntsville Hospital, a medical park with over 1,800 beds and over $6 trillion in total patient revenue. This unique opportunity allows investors the ability to acquire an infill retail asset located in a fundamentally strong and high-growth market. The asset offers secure, long-term cash flow backed by an investment grade tenant with global brand name recognition.

FOR SALE DETAILS

PRICE

$2,821,000 USD

PRICE/SF

$1,140 USD /SF

CAP RATE

5.85%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.05 AC

LAND SF

132,996 SF

ZONING

CG

APN/PARCEL ID

17-01-02-1-000-055.002

ASK ABOUT THIS PROPERTY

Emma BarrecaDiversified Partners, LLCMore Info
610-469-4000

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Emma BarrecaDiversified Partners, LLCMore Info
610-469-4000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.