8464 Madison Blvd Madison, AL 35758

Property Details for 8464 Madison Blvd

Year built

2023

Lot size

1.92 lot acres

Property size

5,373 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a newly constructed, 5,373 square foot Circle K convenience store situated on a 1.92-acre lot in Madison, Alabama. Boasting a 15-year absolute NNN lease (commencing March 1, 2023, and expiring February 28, 2038) with Circle K Inc. (S&P BBB+ rated), this property offers significant long-term stability and strong cash flow. The property features eight gas pumps and ample parking (25 spaces). Located at a hard-corner, signalized intersection on Madison Boulevard, it benefits from high visibility and accessibility, serving as a gateway to Madison, Alabama's fastest-growing city. The property is strategically positioned near Town Madison, a large mixed-use development with over 2,000 residential units, and enjoys strong demographics, including a $110,000 average annual household income and a 40% population increase within a three-mile radius since 2010. The lease includes flat rent for years 1-10, followed by a 5% increase in year 11. The property's Net Operating Income (NOI) is $195,000, resulting in a 5.50% cap rate. The asking price is $3,545,000 ($659.78 per square foot). This is a fee-simple ownership (land only) with seven 5-year lease options. The property is zoned B3 and has a 100% occupancy rate. Its prime location near major retail corridors, Toyota Field, and Redstone Arsenal further enhances its value and potential. This is a truly exceptional opportunity to acquire a high-quality, income-producing asset in a rapidly growing market.

Location Insight

City

Madison

County

Madison

State

Alabama

Longitude

-86.7356

Latitude

34.6837