24044 US Highway 80 W - Retail FOR SALE


Demopolis, AL 36732
$1,950,000 USD
248-419-3840
24044 US Highway 80 W, Demopolis, AL for Sale
$1,950,000 USD
Retail - FOR SALE
1/6
null | 6.2% Cap Rate

24044 US Highway 80 W
Demopolis, AL 36732


HIGHLIGHTS

  • Recent Five Year Executed Option Period
  • Planned Major Lease Hold Improvements
  • 8+ Acres of Industrial Outdoor Storage (IOS)
  • Expanded 4+ Acres In recent Extension
  • Two (5) Year Option Remaining

OVERVIEW

Fortis Net Lease is pleased to present this freestanding industrial property, fully leased to the international tenant Sunbelt Rentals. Sunbelt recently executed their first five-year option period, extending the lease. With the recent extension, the lease now has over 4 Years & 8 Months remaining in the current term, plus Two remaining five-year options. The property is structured as a NN (double net) lease, minimizing landlord responsibilities to primarily roof, Structure, Foundation. The lease also includes a 2% annual rent increase to help hedge against inflation. Constructed in 2018 and improved in 2021 when Sunbelt first leased the premises, the property now sits on over 8 acres with Sunbelt electing to lease the additional 4+/- acres signed into the recent lease amendment, providing ample space for the tenant’s desired Industrial Outdoor Storage (IOS). Along with the recent extension, Sunbelt Rentals has plans Major Lease Hold Improvements. This is an excellent opportunity for an investor seeking a passive income-producing asset with minimal landlord involvement and a creditworthy international tenant in place.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$576 USD /SF

CAP RATE

6.2%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Truck Terminal, Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

8 AC

LAND SF

348,480 SF

ZONING

-

APN/PARCEL ID

06-03-08-0-000-002-0000

ASK ABOUT THIS PROPERTY

Peyton GascheFortis Net LeaseMore Info
248-419-3840

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Peyton GascheFortis Net LeaseMore Info
248-419-3840

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