Current Use by Public Records
- Retail properties & Spaces
Property Details for 1271 Al-14
- Year built
- 2021
- Lot size
- 1.60 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a 2,604 square foot Popeyes restaurant located at 1271 AL-14 in Millbrook, Alabama. The property sits on a 1.6-acre lot with 40 parking spaces and boasts a prime location with direct access from Highway 14, experiencing 57,700 vehicles per day. The property is situated across from the Grandview Plaza development, a 53,000 square foot shopping center anchored by Publix, and is also conveniently located near the 100-acre 17 Springs development, a mixed-use project encompassing retail, office, residential, hotel, and medical spaces, as well as extensive sports facilities. The property features a single-tenant, absolute NNN lease with a franchisee tenant, offering zero landlord responsibilities. The lease commenced June 1, 2023, and has a remaining term of 18.5 years, expiring May 31, 2043, with four, 5-year lease options. Rent increases annually by the greater of 2% or 7% of gross sales, ensuring strong future returns. The current annual net operating income (NOI) is $122,400, yielding a 6.25% cap rate. The building, constructed in 2021, is classified as Class B. The experienced operator manages 61 Popeyes locations across Alabama, Florida, and Georgia, providing further investment security. This property offers a rare opportunity to acquire a high-performing, long-term net lease investment in a rapidly growing area. The asking price is $1,958,000.
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
- Millbrook
- County
- Elmore
- State
- Alabama
- Longitude
- -86.4054
- Latitude
- 32.4933
