22108 Al-9 Goodwater, AL 35072
- Retail properties
Current Use by Public Records
- Retail properties
Property Details for 22108 Al-9
- Year built
- 2005
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a single-tenant, freestanding Dollar General store located at 22108 AL-9, Goodwater, AL 35072. The property boasts a strong 8.00% cap rate, based on a Net Net (NN) lease with a current NOI of $38,400. The lease features a remaining term of 5.9 years, extending to October 31, 2030, with three to five-year option periods including rent bumps. The low rent per square foot of $4.26 demonstrates significant upside potential. Built in 2005, this one-story building benefits from a 100% occupancy rate and a long operational history of 19 years at this location. The tenant has demonstrated strong commitment, recently executing a 5-year early extension, marking their third renewal at this site. The property enjoys a favorable location, with limited competition and a strong demographic profile. Within a 5-mile radius, the average household income surpasses $60,459, and the population within 10 miles exceeds 15,362. The property is conveniently situated 48 miles north of Montgomery, Alabama. This sale is for a leaseback transaction. The asking price is $480,000. This is a rare opportunity to acquire a stable, high-yielding retail investment with a proven track record and significant long-term growth potential.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Goodwater
- County
- Coosa
- State
- Alabama
- Longitude
- -86.0536
- Latitude
- 33.0589
