3020 Cloverdale Rd, Florence, AL 35633
- Retail properties & Spaces
- 3,570 SF
- 0.93 lot acres
Current Use by Public Records
- Slim Chickens / Restaurant
Property Details for 3020 Cloverdale Rd
- Year built
- 2023
- Lot size
- 0.93 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a brand-new, 3,570 square foot Slim Chickens restaurant in Florence, Alabama. The property boasts a 20-year absolute NNN lease with the largest Slim Chickens franchisee, Dixie Chicken, LLC, which operates 15 locations. The lease includes attractive 7.5% rent bumps every five years, ensuring consistent income growth. Built in 2023, this build-to-suit location features a modern design and a double drive-thru, maximizing operational efficiency. Situated on a 0.93-acre lot with excellent visibility on Cloverdale Road, the property benefits from high traffic counts exceeding 22,310 vehicles per day. Its strategic location is complemented by proximity to a large church and Walmart, ensuring high foot traffic and brand recognition. The property's strong demographics include a 5-mile population of 48,859 and an average household income of $75,780 within a 1-mile radius. The current Net Operating Income (NOI) is $195,101, yielding a 6.00% cap rate. The lease features four 5-year renewal options, providing long-term security and investment stability. This fee-simple ownership includes both the building and land, offering complete control and potential for future appreciation. The property is zoned C and offers a single unit within a one-story building. This is a rare opportunity to acquire a high-performing, passively managed investment with significant long-term potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Florence
- County
- Lauderdale
- State
- Alabama
- Longitude
- -87.69
- Latitude
- 34.8477
