29053 Us-98, Daphne, AL 36526

Property Details for 29053 Us-98

Year built

1970

Lot size

0.94 lot acres

Property type

Retail properties & Spaces

Property subtype

Restaurants

Description

This fee-simple, 3,419 square foot Zaxby's restaurant in Daphne, Alabama, presents a compelling value-add or user opportunity. Located on a 0.94-acre lot at 29053 US-98, this single-story building boasts excellent visibility and accessibility along heavily trafficked US Highway 98, just blocks from the Interstate-10 interchange connecting to Mobile. Originally built in 1970 and extensively renovated in 2004, the property includes a drive-thru and benefits from a 100% occupancy rate with a current net operating income (NOI) of $120,000, yielding a 10% cap rate. The asking price is $1,200,000 ($350.98/sq ft). The current lease is a triple-net (NNN) agreement with Zaxby's, expiring June 12, 2025, offering a short-term investment horizon. The property's strategic location across from McDonald's, Dunkin', and Waffle House, and less than a mile from a major power center anchored by Dick's Sporting Goods, TJ Maxx, Petco, and Home Depot, ensures high traffic and strong consumer demographics. Daphne, Alabama, situated in Baldwin County on Mobile Bay, is a rapidly growing, family-oriented community with a high quality of life. This property offers significant potential for investors seeking a short-term, high-return investment or owner-operators looking for a prime location in a thriving market. The current tenant has indicated they will vacate in June 2025 and there are no lease options to extend.

Location Insight

City

Daphne

County

Baldwin

State

Alabama

Longitude

-87.913

Latitude

30.6487