31000 Bass Pro Dr Spanish Fort, AL 36527-9418
- Strip malls
- 20,696 SF
- 190.00 lot acres
Current Use by Public Records
- Urban Air Trampoline and Adventure Park / Playground / Amusement Park
- Urban Air Spanish Fort, AL / Amusement Park
Property Details for 31000 Bass Pro Dr
- Year built
- 2008
- Lot size
- 190.00 lot acres
- Property size
- 20,696 SF
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 32-09-32-0-001-001.013
- APU
- 3209320001001013
Description
This exceptional investment opportunity presents the fee simple ownership of a thriving Urban Air Adventure Park in Spanish Fort, Alabama, within the Mobile MSA. The 20,245 square foot facility, built in 2008 and situated on a 3.79-acre lot, boasts 100% occupancy under a triple-net (NNN) lease with a corporate guarantee from Jackson Family Industries, LLC. The lease, commencing March 10, 2018, and expiring March 31, 2028, has approximately 3.4 years remaining, followed by a potential 5-year option. Scheduled rent bumps are in place for March 2025 and the option period start, ensuring future NOI growth. The property features 139 parking spaces and benefits from a prime location along Bass Pro Drive, providing excellent visibility and access to major roadways including US Highway 98 and US Highway 31, and proximity to Interstate 10. This location is part of the Spanish Fort Town Center, a vibrant lifestyle center anchored by Bass Pro Shops and Kohl's, and is surrounded by other significant retail establishments such as The Home Depot, AMC Theaters, and Walmart. The property also enjoys a strong residential base, with numerous nearby single-family and multi-family communities. The 5-mile trade area boasts over 43,100 residents and 19,700 daytime employees, with an affluent average household income of $106,757. The property's zoning is B-3: General Business, and the asking price is $3,240,000, representing a 7.50% cap rate and a price per square foot of $160.04. The current Net Operating Income (NOI) is $242,940. This is a low-management, passive investment opportunity with significant upside potential.
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
- Spanish Fort
- County
- Baldwin
- State
- Alabama
- Longitude
- -87.9018
- Latitude
- 30.6583
- CBSA code
- 19300
- CBSA name
- DAPHNE-FAIRHOPE, AL MICROPOLITAN STATISTICAL AREA
