Current Use by Public Records
- Lifestyle centers
Property Details for 8145 Al-144
- Year built
- 2024
- Lot size
- 1.97 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a brand-new, free-standing Dollar General store in Alexandria, Alabama. The property boasts a 10,566 square foot building on a 1.97-acre lot, featuring 36 parking spaces. The property is situated at 8145 AL-144, conveniently located along AL Highway 144 in Calhoun County. The single-tenant, absolute NNN lease with Dollar General offers a 15-year initial term with five, five-year renewal options. Rent increases by 5% every five years throughout the lease term. The property benefits from a strong corporate guarantee and a credit-rated tenant, ensuring a stable and secure investment. Built in 2024, this Class A retail asset currently enjoys 100% occupancy, generating a substantial net operating income (NOI) of $147,072 and a 6.75% cap rate. The asking price is $2,178,844, translating to $206.21 per square foot. This strategically located property offers significant potential for long-term growth and passive income, positioned approximately halfway between Birmingham, Alabama, and Atlanta, Georgia. The property's location within the Oxford-Anniston MSA provides access to a substantial consumer base.
Value Estimations
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Alexandria
- County
- Calhoun
- State
- Alabama
- Longitude
- -85.9056
- Latitude
- 33.7824
