3200 Main St Altoona, AL 35952
- Retail properties
- 10,500 SF
- 1.71 lot acres
Current Use by Public Records
- Family Dollar / Dollar Store / Clothing Store
Property Details for 3200 Main St
- Year built
- 2024
- Lot size
- 1.71 lot acres
- Property size
- 10,500 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
Exceptional investment opportunity: a brand-new, 10,500 square foot Family Dollar/Tree hybrid store in Altoona, Alabama. This single-tenant, net-lease property boasts a 7.00% cap rate and a 10-year lease (with five 5-year options) commencing May 1, 2024, and features a corporate guarantee. Situated on a 1.71-acre lot at the main intersection of Main Street and Highway 41, this property benefits from high visibility and traffic. The building, completed in 2024, offers minimal landlord responsibilities, including a roof warranty. With 27 parking spaces and a strong tenant with an e-commerce resistant business model, this investment presents a secure and lucrative return. The property's NOI is $125,895, and the asking price is $1,798,500 ($171.29/SF). This is a rare opportunity to acquire a high-performing retail asset in a growing market. The hybrid Family Dollar/Tree store concept is projected to generate 20% higher sales than traditional models. The property's address is 3200 Main St, Altoona, AL 35952. The parcel number is 07-08-34-0-001-129.000. Rent bumps are included in the lease agreement. 100% occupancy is expected by June 3, 2024.
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
- Altoona
- County
- Etowah
- State
- Alabama
- Longitude
- -86.3197
- Latitude
- 34.0291
