Current Use by Public Records
- Retail properties & Spaces
Property Details for 1111 Us-31
- Year built
- 1979
- Lot size
- 1.18 lot acres
- Property type
- Retail properties & Spaces
- 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.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bay Minette
- County
- Baldwin
- State
- Alabama
- Longitude
- -87.7773
- Latitude
- 30.8648
