5501 Grove Blvd Hoover, AL 35226
- Retail properties
- 704,529 SF
- 72.90 lot acres
Current Use by Public Records
- Retail properties
Property Details for 5501 Grove Blvd
- Lot size
- 72.90 lot acres
- Property size
- 704,529 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a portfolio of six At Home retail properties totaling 704,529 square feet situated on 72.9 acres. The properties are located across five states: Alabama, Louisiana, Florida, Oklahoma, and Kansas. Currently operating under a single master lease with a prominent tenant, the portfolio boasts a 100% occupancy rate since September 16, 2017. The absolute triple-net (NNN) lease features a remaining term of 7.9 years, with a 15-year initial term expiring September 29, 2032. Annual rent escalations of 2.00% are built into the lease, providing consistent income growth. The lease also includes four five-year renewal options, further enhancing long-term value. The asking price is $63,691,213, representing a price per square foot of $90.40 and a 7.50% cap rate based on a net operating income (NOI) of $4,776,841. The portfolio offers significant long-term stability and potential for appreciation, making it an attractive investment for discerning buyers. Each of the six single-story buildings is zoned for commercial use. The portfolio's strong sales performance and the inherent benefits of a long-term, NNN lease structure contribute to its overall appeal.
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
- Hoover
- County
- Jefferson
- State
- Alabama
- Longitude
- -86.8489
- Latitude
- 33.3643
