Current Use by Public Records
- Retail properties & Spaces
Property Details for 10378 Us-231
- Year built
- 2024
- Lot size
- 1.45 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a fee-simple ownership of a 10,500 square foot, single-tenant retail building in Cropwell, Alabama. The property is currently 100% occupied by a Family Dollar Tree, operating under a corporately guaranteed Net Lease (NN+) with 9.8 years remaining on the initial 10-year term, plus five 5-year options, each including a $5,250 rent increase. Built in 2024, the building boasts a 20-year roof warranty and sits on a 1.45-acre lot. The property generates a strong Net Operating Income (NOI) of $145,950, representing a 7.75% cap rate on the asking price of $1,883,225. The tenant, Dollar Tree (a subsidiary of Dollar General), is an investment-grade credit tenant with a strong track record. Located on US-231 with traffic counts exceeding 22,200 vehicles daily, the property benefits from a 10-mile population of 15,773 residents and an average household income of $94,416. The strategic location near Avondale Lake further enhances its appeal. This is a rare opportunity to acquire a high-performing, low-risk retail investment with significant upside potential. The tenant is responsible for HVAC, CAM, taxes, and insurance.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pell City
- County
- St. Clair
- State
- Alabama
- Longitude
- -86.3275
- Latitude
- 33.5074
