504 Meighan Blvd Gadsden, AL 35903-1914

Property Details for 504 Meighan Blvd

Year built

2015

Lot size

1.31 lot acres

Property size

2,776 SF

Property type

Drive through restaurants

APN

15-02-10-1-000-001.004

APU

1502101000001004

Description

This exceptional investment opportunity presents a 2,671 square foot Krispy Kreme restaurant located at 504 E Meighan Blvd, Gadsden, Alabama, 35903. The property sits on a 1.31-acre lot and boasts a strong financial performance, with a Net Operating Income (NOI) of $77,500 and a 5.10% cap rate. Built in 2015, this state-of-the-art facility includes a drive-thru and is currently operating at 100% occupancy under a single-tenant, absolute NNN ground lease with Krispy Kreme, Inc. The lease commenced October 1, 2015, and expires September 30, 2032, with four, five-year renewal options remaining. The asking price is $1,519,608, representing a price per square foot of $568.93. This prime retail location is situated in a high-traffic area, benefiting from its proximity to a top-performing Walmart, River Trace shopping center (anchored by Hobby Lobby, Ross, Five Below, and Shoe Carnival), and Coosa Town Center (anchored by T.J. Maxx, Old Navy, and Bealls). The property enjoys significant daily traffic volume on E Meighan Boulevard, exceeding 35,000 cars. Furthermore, its adjacency to Gadsden Regional Medical Center further enhances its visibility and accessibility. This investment offers a secure, long-term lease with a nationally recognized brand in a thriving retail corridor.