1837 Lee Ave Cullman, AL 35055
- Retail properties
- 6,400 SF
- 3.00 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1837 Lee Ave
- Year built
- 2024
- Lot size
- 3.00 lot acres
- Property size
- 6,400 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 6,400 square foot Mach-1 Express Wash in Cullman, Alabama. Built in 2024, this single-story building sits on a 3-acre lot at 1837 Lee Ave SW, 35055. The property boasts a 20-year absolute NNN lease with a credit-rated, corporate-guaranteed tenant, eliminating landlord responsibilities. The lease features a 7.35% cap rate and a substantial $411,682 annual net operating income (NOI). Rent increases annually by 1.5%, ensuring consistent growth throughout the lease term, which includes four, 5-year renewal options extending to 11/30/2044. The property benefits from its strategic location in a densely populated retail corridor with numerous national tenants, including Walmart, Lowe's, and many others. Its proximity to Heritage Park, a major sports complex, and a Walmart Distribution Center further enhances its appeal. Traffic counts exceed 120,000 vehicles per day on Cherokee Ave SW, serving a 5-mile population of approximately 29,711 residents with an average household income of $96,361. This property is ideally suited for investors seeking a secure, high-return investment with significant long-term potential. The property qualifies for bonus depreciation.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cullman
- County
- Cullman
- State
- Alabama
- Longitude
- -86.8423
- Latitude
- 34.1563
