1804 2nd SW Ave Cullman, AL 35055-5320
- Investment properties
- 11,936 SF
- 1.42 lot acres
Current Use by Public Records
- Aaron's Rent To Own / Appliance Store / Furniture Store
Property Details for 1804 2nd SW Ave
- Year built
- 2000
- Lot size
- 1.42 lot acres
- Property size
- 11,936 SF
- Property type
- Investment properties
- Property subtype
- Retail residential properties
- APN
- 17-05-22-4-002-001.000
- APU
- 1705224002001000
Description
This fee-simple, 11,661 square foot Aaron's Furniture storefront in Cullman, Alabama, presents a compelling investment opportunity. Located on a 1.57-acre lot at 1804 2nd Ave SW, this property boasts high visibility and accessibility, benefiting from over 15,000 vehicles per day. The property is currently leased under an absolute NNN lease with a corporate guarantee from Aaron's, providing significant security. The lease, commencing December 9, 2010, has a remaining term of 1.1 years, followed by two 5-year options with rent bumps. Built in 2008, the single-building property offers a current NOI of $117,875, representing a 9.50% cap rate at an asking price of $1,240,791 ($106.41/sq ft). The property's strategic location along the I-65 corridor, near major retailers like Tractor Supply, Buffalo Wild Wings, and Walmart, further enhances its investment appeal. This below-market rent provides significant potential for future rental growth and increased ROI. 100% occupancy ensures immediate cash flow. Consider this exceptional opportunity to acquire a stable, high-performing retail asset in a thriving Alabama market.
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
- Cullman
- County
- Cullman
- State
- Alabama
- Longitude
- -86.8336
- Latitude
- 34.1544
- CBSA code
- 18980
- CBSA name
- CULLMAN, AL MICROPOLITAN STATISTICAL AREA
