1624 Hwy 72nd E Huntsville, AL 35811-9659
- Drive through restaurants
- 3,154 SF
- 1.11 lot acres
Jul 31, 2024
Current Use by Public Records
- Drive through restaurants
Property Details for 1624 Hwy 72nd E
- Year built
- 1998
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.11 lot acres
- Property size
- 3,154 SF
- Property type
- Drive through restaurants
- APN
- 13-05-16-0-000-035.001
- APU
- 1305160000035001
Description
This exceptional investment opportunity presents a fee-simple ownership of a corporate-guaranteed Wendy's restaurant in Huntsville, Alabama. The property boasts a 3,154 square-foot building on a 1.11-acre lot, featuring 43 parking spaces. Built in 1998 and renovated in 2017, this Class B retail property operates under an absolute NNN lease with a remaining term of 11 years, expiring November 1, 2035. The lease includes four 5-year renewal options with 10% rent bumps every five years, providing a strong hedge against inflation. The current annual net operating income (NOI) is $108,058, representing a 5.00% cap rate on the asking price of $2,161,160 ($685.21 per square foot). The property enjoys a prime location on Highway 72 East, benefiting from high traffic counts exceeding 50,000 vehicles daily. Its strategic placement near a major mixed-use development, Trailhead Community Huntsville, multiple manufacturing plants (Mitchell Plastics & PPG Industries), a large rehabilitation hospital, and Alabama A&M University ensures consistent high traffic and strong demographics. The surrounding area boasts a dense population with high average household incomes, exceeding $112,050 within a 5-mile radius. This Wendy's location has a successful operating history of over 25 years, demonstrating its enduring appeal and profitability. The property's size and ample parking accommodate high restaurant volume. This is a rare opportunity to acquire a stable, high-performing asset with significant long-term growth potential in a thriving Alabama market. The property's zoning is commercial, and the APN is 13-05-16-0-000-035.001. One gas pump is also on the property.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,060,000
- ML approach
- $2,060,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,291,000
Market price range: $600k - $2.05M
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Location Insight
- Map
- Local Demand
- City
- Huntsville
- County
- Madison
- State
- Alabama
- Longitude
- -86.5354
- Latitude
- 34.773
- CBSA code
- 26620
- CBSA name
- HUNTSVILLE, AL METROPOLITAN STATISTICAL AREA
