1305 Columbus Pkwy Opelika, AL 36804

Property Details for 1305 Columbus Pkwy

Year built

2022

Lot size

0.77 lot acres

Property size

2,000 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a 2,000 square foot Class A, single-tenant, absolute NNN leased QSR property located at 1305 Columbus Pkwy, Opelika, AL 36804. The property, built and renovated in 2022, sits on a 0.77-acre lot and includes 25 parking spaces. The current tenant, a franchisee, operates under a new 15-year lease with 10% rent bumps every five years, ensuring inflation protection. The property boasts a 7.00% cap rate and a strong NOI of $138,000. Situated in a high-traffic area with over 26,700 vehicles passing daily on Columbus Parkway and an additional 77,000 vehicles daily via I-85 billboard visibility, this location benefits from excellent visibility and access. The surrounding area includes numerous national retailers, including McDonald's, Taco Bell, and Burger King, indicating a thriving retail corridor. Strong demographics support this investment, with over 33,000 residents within a 5-mile radius and an average annual household income exceeding $73,000. Furthermore, a projected 10% population growth is expected within a 1-mile radius between 2022 and 2027. The property is an outparcel to a 23-acre parcel slated for future commercial or residential development, further enhancing its long-term value. This fee-simple ownership offers a passive income stream with zero landlord responsibilities, making it an ideal addition to any portfolio. The lease includes two, five-year renewal options.