1131 Hwy 280th Byp Phenix City, AL 36867-5447
- Retail residential properties
- 8,000 SF
- 1.40 lot acres
Current Use by Public Records
- Aaron's Rent To Own / Furniture Store / Appliance Rental Service
Property Details for 1131 Hwy 280th Byp
- Year built
- 2006
- Lot size
- 1.40 lot acres
- Property size
- 8,000 SF
- Zone code
- O
- Property type
- Retail residential properties
- APN
- 05 05 16 01 008 074.000
- APU
- 5051601008074000
Description
This exceptional investment opportunity presents a freestanding 8,000 square foot storefront located at 1131 E 280 Byp, Phenix City, AL 36869. The property, built in 2006, is currently 100% occupied by Aaron's, a leading lease-to-own retailer (NYSE: AAN), under a net lease agreement with a corporate guarantee. The lease commenced August 1, 2006, and expires November 30, 2026, leaving approximately two years remaining. The asking price is $1,500,000, representing a price per square foot of $187.50 and an attractive 8.97% cap rate based on a net operating income (NOI) of $134,477. The property sits on a 1.4-acre parcel in a prime retail corridor, offering significant visibility and accessibility. There are no rent bumps or lease options included in the current agreement. This presents a unique opportunity for investors seeking a secure, high-yield investment with potential for future rent increases or owner-occupancy after the lease expiration. The property's strong location and tenant history make it an ideal candidate for a 1031 exchange. The Aaron's location has operated successfully since the building's construction, demonstrating the viability of the site and the tenant's commitment to the market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $255,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $345,000
- 6.5%
- $345,000
- 7%
- $355,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $340,000
- Geo Method
- $300,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $320,000
- Retail
- $295,000
- Mixed-Use
- $325,000
- Hospitality
- $315,000
- Educational
- $325,000
- Residential Income
- $355,000
- Energy
- $375,000
- Income-Based Land
- $300,000
- Food Service
- $300,000
Location Insight
- Map
- Local Demand
- City
- Phenix City
- County
- Russell
- State
- Alabama
- Longitude
- -85.0295
- Latitude
- 32.4684
- CBSA code
- 17980
- CBSA name
- COLUMBUS, GA-AL METROPOLITAN STATISTICAL AREA
