Current Use by Public Records
- Retail properties & Spaces
Property Details for 2101 Pelham Pkwy
- Year built
- 2023
- Lot size
- 1.27 lot acres
- Property type
- Retail properties & Spaces
- 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.
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
- Hoover
- County
- Shelby
- State
- Alabama
- Longitude
- -86.7958
- Latitude
- 33.3457
