302 5Th Ave Cullman, AL 35055
- Office Properties & Spaces
- 4,500 SF
- 0.50 lot acres
Current Use by Public Records
- Ron Wilson's Auto Services / Auto Repair Shop
- Community Auto Repair / Auto Repair Shop / Car Repair And Maintenance Service
Property Details for 302 5Th Ave
- Year built
- 1998
- Lot size
- 0.50 lot acres
- Property size
- 4,500 SF
- Property type
- Office Properties & Spaces
Description
This exceptional investment opportunity presents a fee-simple interest in a 4,500 square foot, single-story auto repair shop located at 302 5th Ave SW, Cullman, Alabama. The property sits on a half-acre lot and boasts four service bays, ensuring ample operational capacity. A brand-new 15-year absolute NNN lease is in place with Community Auto Repair, eliminating landlord responsibilities. The lease features a 7% cap rate and includes annual 2% rent increases, providing a hedge against inflation and increasing yield over time. Built in 1998, this established business enjoys 100% occupancy and generates a $63,000 annual net operating income (NOI). The lease includes four, five-year renewal options, providing long-term stability and predictable cash flow. The asking price is $900,000, or $200 per square foot. This property is ideally situated in a high-traffic area, experiencing over 15,000 vehicles daily. The investment is structured as a fee simple ownership, offering a passive income stream with minimal management requirements. This is a rare opportunity to acquire a stable, high-performing asset with significant long-term growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cullman
- County
- Cullman
- State
- Alabama
- Longitude
- -86.8466
- Latitude
- 34.1732
