303 Main St Opp, AL 36467
- Retail properties
- 8,353 SF
- 1.67 lot acres
Current Use by Public Records
- Retail properties
Property Details for 303 Main St
- Year built
- 2016
- Lot size
- 1.67 lot acres
- Property size
- 8,353 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a fee-simple ownership of an 8,353-square-foot grocery store located at 303 S Main St, Opp, Alabama, 36467. The property boasts a 7.75% cap rate and a strong NOI of $106,207. The tenant, Family Dollar, operates under a corporate-guaranteed absolute NNN lease with 5.6 years remaining, expiring June 29, 2030. Rent commencement is June 28, 2030. The lease, originally commencing September 13, 2015, includes rent bumps every three years, not exceeding 6%, providing consistent income growth. Built in 2016, this well-maintained property sits on a 1.67-acre lot and benefits from recent renovations completed by the tenant. The property enjoys 100% occupancy since its opening on September 13, 2015, and is situated in a high-traffic location with a reported 13,200 vehicles per day. The asking price is $1,370,000, translating to $164.01 per square foot. This is a rare opportunity to acquire a stable, high-performing retail investment with a long-term, creditworthy tenant and significant upside potential. The property's location and the tenant's financial strength make this a compelling investment for discerning buyers. This is a net lease, meaning the tenant is responsible for all operating expenses.
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
- Opp
- County
- Covington
- State
- Alabama
- Longitude
- -86.2559
- Latitude
- 31.2811
