3720 Mary Taylor Rd Birmingham, AL 35235

Property Details for 3720 Mary Taylor Rd

Year built

2020

Lot size

0.74 lot acres

Property size

2,964 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a 2,964 square foot Freddy's Frozen Custard & Steakburgers property located at 3720 Mary Taylor Rd, Birmingham, AL 35235. The property, built in 2020, sits on a 0.735-acre lot and benefits from a 20-year absolute triple net (NNN) lease with a reputable franchisee, Bama Custard & Bama Custard 2, an entity controlled by ERC Hospitality, the 5th largest Freddy's franchisee. The lease includes 2% annual rent bumps, providing consistent income growth. The asking price is $2,522,000, representing a price per square foot of $850.88 and a 5.75% cap rate with a current NOI of $145,000. The property enjoys a prime location in an affluent area of Birmingham, boasting an average annual household income exceeding $122,000 within a one-mile radius. This strategic location is part of a thriving retail destination, neighboring major retailers such as Target, Home Depot, Lowe's, Best Buy, Hobby Lobby, and The Pinnacle, a 644,000 square foot lifestyle center. Its proximity to the I-59 and I-459 interchange further enhances its accessibility and visibility. The lease offers four 5-year renewal options, ensuring long-term stability and return on investment. The property's strong tenant, favorable lease terms, and prime location make it an attractive investment opportunity in a high-growth market. The guarantor's experience and the brand's national presence contribute to the property's overall strength and potential for future appreciation.