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Goodwill, Montgomery , AL

Goodwill

Montgomery, AL

Price $2,348,000
Cap Rate 5.75%
NOI $135,000
Lease Term 20 Years With 15+ Years Remaining
Lease Type Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2017 (Year Remodeled)
Building Size 11,247 SF
Lot Size 1.93 Acres (84,071 SF)
Status Under Contract
Lead Broker Information Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NET LEASE TO ICONIC NATIONAL TENANT
» Recently extended lease demonstrating the tenant’s commitment to the location
» 10% rental increases every five years, providing a hedge against inflation
» In 2020, more than 20 million people used computers and mobile devices to access Goodwill services
» Site features a drive-up drop-off along side of building
» Fully remodeled in 2017

HIGH-VISIBILITY LOCATION IN POPULOUS AND GROWING ALABAMA SUBURB
» Easily accessible location along U.S. Route 231/Eastern Boulevard (46,880 AADT), a primary north-south Montgomery thoroughfare
» Population of 154,205 within a five-mile radius of the location, creating a reliable customer base for the site
» Surrounded by high-density, single family housing developments and large townhouse complexes
» Projected 12 percent average annual household income increase within a five mile radius of the site in the next five years, poising Goodwill and Montgomery for significant concurrent growth

PRIME INFILL LOCATION ALONG ONE OF MONTGOMERY’S PRIMARY RETAIL CORRIDORS
» Prime infill location surrounded by a strong mix of local and national retailers, including Walmart Supercenter, The Home Depot, Lowe’s Home Improvement, T.J. Maxx, Guitar Center, Office Depot, Golden Corral, Chick-fil-A, and many more
» Located near Montgomery’s busiest community hubs, including Baptist Medical Center South (492 beds, 1,379 employees), Alabama State University (3,614 students), and Trenholm State Community College (1,526 students)
» Excellent proximity to Alabama’s major thoroughfares flowing traffic in and out of Montgomery, including Interstate 85 and Interstate 65
» One mile from the Alabama Shakespeare Festival grounds (300,000 annual visitors)



Property Description

This Goodwill has an easily accessible location along U.S. Route 231/Eastern Boulevard (46,880 AADT), a primary north-south Montgomery thoroughfare. The site features a prime location in a populous and growing area, with 154,205 residents living within a five-mile radius of the property, creating a reliable customer base for the site. This Goodwill location greatly benefits from being surrounded by high-density single-family housing developments and large townhouse complexes. With a projected 12 percent average annual household income increase within a five-mile radius of the site in the next five years, Goodwill and Montgomery are poised for significant concurrent growth.

Visibility to the property is increased by the site’s location along one of Montgomery’s primary retail corridors. The site features a prime infill setting surrounded by a strong mix of local and national retailers, including Walmart Supercenter, The Home Depot, Lowe’s Home Improvement, T.J. Maxx, Guitar Center, Office Depot, Golden Corral, Chick-fil-A, and many more. The property is strategically located near Montgomery’s busiest community hubs, including Baptist Medical Center South (492 beds, 1,379 employees), Alabama State University (3,614 students), and Trenholm State Community College (1,526 students). The location also maintains an excellent proximity to Alabama’s major thoroughfares flowing traffic in and out of Montgomery, including Interstate 85 and Interstate 65. The site is also just one mile from the Alabama Shakespeare Festival grounds, which welcomes 300,000 annual visitors.

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