301 Doug Baker Blvd Hoover, AL 35242-2622

Property Details for 301 Doug Baker Blvd

Year built

2017

Construction

WOOD

Lot size

0.81 lot acres

Property size

3,572 SF

Property type

Drive through restaurants

APN

93050001030014

APU

93050001030014

Description

This exceptional investment opportunity presents a 3,593 square foot Freddy's Frozen Custard & Steakburgers property in Birmingham, Alabama. Located at 301 Doug Baker Blvd, this single-tenant, absolute triple-net (NNN) lease boasts a 20-year term with a remarkable 2% annual rent increase. The property sits on a 0.81-acre lot and was built in 2016. The asking price is $1,913,000, representing a $532.42 price per square foot and a 5.75% cap rate, with a current NOI of $110,000. The lease is guaranteed by a highly experienced franchisee, an entity controlled by the 5th largest Freddy's franchisee, operating 33 locations across multiple states. This strategically positioned outparcel benefits from its proximity to a Publix, Hobby Lobby, Dick's Sporting Goods, and AMC Theatres anchored development, situated off U.S. 280 (50,000+ vehicles per day). The surrounding area is extremely affluent, with an average annual household income exceeding $173,000 within a three-mile radius. The lease includes four 5-year renewal options, offering long-term stability and predictable income growth. This property is ideal for a 1031 exchange. The property is part of a larger retail destination including Walmart, Lowe's, Home Depot, and other major retailers. Freddy's Frozen Custard & Steakburgers is a rapidly expanding national chain with over 515 locations. This sale-leaseback offers a compelling combination of strong tenant performance, a prime location, and a secure, long-term lease.

Location Insight

City

Hoover

County

Shelby

State

Alabama

Longitude

-86.6657

Latitude

33.408

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments