1111 Us-31 Bay Minette, AL 36507

Property Details for 1111 Us-31

Year built

1979

Lot size

1.18 lot acres

Property size

2,344 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a single-tenant, net-leased restaurant property located at 1111 US-31, Bay Minette, Alabama 36507, in Baldwin County. The property, built in 1979, encompasses 2,344 square feet on a 1.18-acre lot and boasts a 7.50% cap rate. Currently occupied by a Shrimp Basket restaurant, part of an 18-unit seafood chain with corporate ownership by Artistry Restaurant Group, this Class A property offers a stable investment with a long-term lease. The 14-year lease commenced on August 1, 2016, and expires July 31, 2030, leaving approximately 5.7 years remaining. The tenant benefits from a corporate guarantee, ensuring consistent rental income. The property features a single-story building with 100% occupancy and a strong net operating income (NOI) of $68,776. The asking price is $917,013, translating to a price per square foot of $391.22. The restaurant includes outdoor seating, a standard feature for all Shrimp Basket locations. The property's strategic location benefits from an average annual daily traffic (AADT) count of 495. This is a rare opportunity to acquire a well-established, high-performing net-leased restaurant in a desirable location.