1904 Cobbs Frd Rd Prattville, AL 36066-7712
- Retail space
- 12,853 SF
- 1.37 lot acres
Current Use by Public Records
- Retail space
Property Details for 1904 Cobbs Frd Rd
- Year built
- 2013
- Construction
- STEEL FRAME
- Lot size
- 1.37 lot acres
- Property size
- 12,853 SF
- Property type
- Retail space
- APN
- 19-06-13-1-000-005.000
- APU
- 1906131000005000
Description
This exceptional investment opportunity presents a 12,853 square foot CVS Pharmacy located on a 1.37-acre lot at a high-traffic signalized corner in Prattville, Alabama. The property boasts a strong retail corridor within a large trade area, experiencing 45,000 cars per day at the intersection. Built in 2013, this single-tenant, absolute NNN ground lease offers a substantial remaining term of 14 years, extending to 2039, with eight 5-year options, each including a 5% rent increase. The current annual net operating income (NOI) is $167,200, representing a 5.25% cap rate on the asking price of $3,185,000. This investment-grade tenant provides zero landlord responsibilities, making it an attractive, low-maintenance asset. The below-market rent and unique lease terms, including rent bumps in both the primary term and options, present a compelling opportunity for long-term, passive income generation in a growth market. The property's location and the tenant's strong creditworthiness combine to create a secure and profitable investment. This is a rare opportunity to acquire a long-term, absolute NNN ground lease with a nationally recognized tenant in a prime retail location.
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
- Prattville
- County
- Autauga
- State
- Alabama
- Longitude
- -86.4176
- Latitude
- 32.46
- CBSA code
- 33860
- CBSA name
- MONTGOMERY, AL METROPOLITAN STATISTICAL AREA
