9400 Parkway Birmingham, AL 35215

Property Details for 9400 Parkway

Year built

2014

Lot size

1.07 lot acres

Property size

2,996 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a single-tenant, 2,996 square-foot Hardee's/Carl's Jr. restaurant located at 9400 Parkway East, Birmingham, Alabama, 35215. The property boasts a highly desirable location at a signalized intersection of Parkway East and Red Lane Road, experiencing a combined daily traffic count exceeding 70,000 vehicles. Its proximity to Interstate 59 (0.28 miles) further enhances its visibility and accessibility. The building, constructed in 2014, sits on a 1.07-acre lot and benefits from excellent curb cuts on both Parkway East and Red Lane Road. The property is strategically positioned alongside a Walmart Supercenter and Roebuck Marketplace, surrounded by a robust mix of national retailers including Burger King, Wells Fargo, Circle K, AT&T, McDonald's, CVS Pharmacy, Walgreens, Chick-fil-A, Subway, Taco Bell, Planet Fitness, Dollar Tree, and Harbor Freight. The absolute NNN lease with Hardee's/Carl's Jr. provides a secure investment with a remaining term of 10 years, extending to 2034, and includes four 5-year renewal options. The lease features rent bumps, with a 14% increase scheduled for December 1, 2029. The tenant is responsible for roof and HVAC maintenance. The property's strong financial performance is reflected in its $2,848,174 asking price, $950.66 price per square foot, $163,770 net operating income (NOI), and a 5.75% capitalization rate. The property is zoned CB2. This is a rare opportunity to acquire a well-located, high-performing, and stable net lease investment in a thriving retail corridor.

Location Insight

City

Birmingham

County

Jefferson

State

Alabama

Longitude

-86.6975

Latitude

33.5913