2101 Pelham Pkwy Hoover, AL 35244

Property Details for 2101 Pelham Pkwy

Year built

2023

Lot size

1.27 lot acres

Property size

5,200 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a brand-new, 5,200-square-foot Circle K convenience store and gas station situated on a 1.27-acre lot in Hoover, Alabama. The property boasts a 15-year absolute NNN ground lease expiring August 16, 2038, providing significant long-term stability and predictable cash flow. The tenant, Circle K, is a nationally recognized brand with a strong credit rating, ensuring reliable rental income. Located at a high-traffic intersection on Pelham Parkway in Birmingham, the property benefits from approximately 50,560 vehicles per day, ensuring high visibility and accessibility. The site is strategically positioned within a densely populated and affluent trade area, boasting over 96,000 residents with an average household income exceeding $122,000. Nearby, you'll find other major retailers such as Publix, Walmart Supercenter, ALDI, and Walgreens, further enhancing the property's desirability and potential for continued success. Built in 2023, this Class A property offers 17 parking spaces per 1,000 square feet. The asking price is $2,650,000, representing a 5.23% cap rate. The property's location is further enhanced by its proximity to local high schools and the Riverchase Galleria, Alabama's largest mall, featuring extensive retail space, Class A office space, and a Hyatt Regency Hotel. A recently approved $40 million road widening project on Valleydale Road and Highway 261 will further improve accessibility and traffic flow, increasing the property's long-term value. The APN is 109300002007001.

Location Insight

City

Hoover

County

Shelby

State

Alabama

Longitude

-86.7958

Latitude

33.3457