1085 Mid City Dr Huntsville, AL 35805
- Retail properties
- 2,500 SF
- 0.69 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1085 Mid City Dr
- Lot size
- 0.69 lot acres
- Property size
- 2,500 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a brand-new, single-tenant net-leased Starbucks located at 1085 Mid City Dr, Huntsville, AL 35805. The 2,500 square foot property sits on a 0.69-acre lot and boasts a 10.1-year lease commencing October 15, 2023, and expiring October 31, 2033, leaving 8.9 years remaining. The lease includes four 5-year option periods with 10% rent increases every 5 years, offering significant long-term growth potential. The property features a double drive-thru, a key advantage in the fast-food sector. With a current Net Operating Income (NOI) of $205,000 and an asking price of $4,650,000, this investment offers a compelling 4.41% cap rate. The property enjoys 100% occupancy and benefits from a corporate guarantee, minimizing landlord responsibilities. Strategically positioned within the MidCity District, a 140-acre mixed-use development featuring over 660,000 square feet of retail space, 400,000 square feet of office space, and numerous residential units, this Starbucks enjoys high visibility and traffic. Nearby attractions include Top Golf, Dave & Buster's, High Point Climbing & Fitness, REI, and the Orion Amphitheater. Huntsville's thriving economy, fueled by the presence of Cummings Research Park (the second largest research park in the U.S.) and the U.S. Space Command, ensures a strong and stable market for this investment. The price per square foot is $1,860. This is a truly exceptional opportunity to acquire a high-performing asset in a rapidly growing market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Huntsville
- County
- Madison
- State
- Alabama
- Longitude
- -86.6665
- Latitude
- 34.7397
