1808 US Highway 98 - Freestanding FOR SALE


Daphne, AL 36526
$1,511,000 USD
248-254-3406
1808 US Highway 98, Daphne, AL for Sale
$1,511,000 USD
Freestanding - FOR SALE
1/8
null | 6.75% Cap Rate

1808 US Highway 98
Daphne, AL 36526


HIGHLIGHTS

  • Long-Term NNN Lease: 5 year extension executed with zero landlord responsibilities
  • Credit Tenant: Leased to O'Reilly Auto Parts, a nationally recognized and established automotive retailer
  • Attractive Returns: Offered at a 6.75% cap rate
  • Rent Growth: Built-in 8.0% rent increases every five years throughout the base term and renewal options
  • Strategic Location: Positioned along US-98 in Daphne, AL, a well trafficked retail corridor with strong visibility
  • Efficient Asset Size: ±6,800 SF building situated on a 0.56-acre parcel, ideal for long-term single-tenant occupancy

OVERVIEW

Fortis Net Lease is pleased to present the opportunity to acquire a single-tenant net lease investment occupied by O'Reilly Auto Parts, located at 1808 US-98 in Daphne, Alabama. The property consists of a ±6,800-square-foot retail building situated on a 0.56-acre parcel along a well-trafficked retail corridor. The asset is offered at an asking price of $1,511,000, representing an attractive 6.75% cap rate and generating a stable net operating income of $102,000. This investment provides investors with a strong national tenant in a growing Gulf Coast market. The lease is structured as a triple net (NNN) lease with approximately 20 years remaining on the primary term, offering a passive, management-free investment. The lease includes three (5-year) renewal options, providing long-term income security, along with favorable rent escalations of 8.0% every five years throughout the initial term and option periods. Backed by a well-established and creditworthy tenant, this offering presents an ideal opportunity for investors seeking predictable cash flow, inflation protection, and long-term stability.

FOR SALE DETAILS

PRICE

$1,511,000 USD

PRICE/SF

$222 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

B-2

APN/PARCEL ID

43-04-17-3-000-053.000

ASK ABOUT THIS PROPERTY

Robert BenderFortis Net LeaseMore Info
248-254-3406

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Robert BenderFortis Net LeaseMore Info
248-254-3406

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