931 Rainbow Dr Gadsden, AL 35901-5368

Property Details for 931 Rainbow Dr

Year built

2010

Lot size

0.64 lot acres

Property size

2,254 SF

Property type

Banks

APN

15-02-09-0-001-009.000

APU

1502090001009000

Description

This exceptional investment opportunity presents a 2,000 square foot Tropical Smoothie Cafe in Gadsden, Alabama. Located at the signalized intersection of US Route 411 and South 4th Street, this high-visibility location boasts a combined daily traffic count of 39,247 vehicles. Benefiting from its proximity to Interstate 759 (28,098 AADT), the property enjoys excellent accessibility and high visibility. The site is ideally situated adjacent to Gadsden Mall, a premier shopping destination, and surrounded by a dense concentration of retail establishments including Walmart, Lowe's, Chick-fil-A, McDonald's, and many more. The property sits on a 0.64-acre lot and features a new, 10-year absolute NNN lease (commencing November 19, 2024, and expiring November 30, 2034) with scheduled rent bumps, ensuring a stable and growing income stream. The tenant, Dyne Hospitality Group, operates over 120 Tropical Smoothie Cafe locations, making them the largest franchisee in the system. The property's strong demographics are further supported by a population of 49,967 within a five-mile radius, including proximity to several schools. With a 6.25% cap rate and a Net Operating Income (NOI) of $183,011, this is a compelling investment opportunity for both local and out-of-area investors seeking a low-management, high-return asset. The property is also suitable for a 1031 exchange. The building was constructed in 2024.

Location Insight

City

Gadsden

County

Etowah

State

Alabama

Longitude

-86.0049

Latitude

33.9983

CBSA code

23460

CBSA name

GADSDEN, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments