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Taco Bell, Hazel Green, AL

Taco Bell

AL, United States

Price $1,895,800
Cap Rate
NOI
Lease Term 25 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, Utilities, Repair, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 1% Annual Rental Increases
Year Built 2016
Building Size 2,720 SF
Lot Size 0.99 Acres (42,947 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Alabama-licensed real estate broker Commercial Realty, LLC.

Investment Highlights

LONG-TERM ABSOLUTE NNN LEASE
» 25-year NNN lease with six five-year option periods
» Operated by Taco Bell’s largest franchisee, with over 270 units
» Rare annual rental increases, providing an excellent hedge against inflation
» Absolutely no landlord management, providing an ideal investment for an out-of-area investor

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located at signalized intersection with excellent visibility and access to 27,400 vehicles per day on U.S. Highway 231, the region’s main transportation and retail corridor
» Strategic commuter location on U.S. Highway 231, the primary route through Huntsville’s northern suburbs, connecting Hazel Green to major population and employment centers located in downtown Huntsville

CENTRAL LOCATION WITH STRONG CUSTOMER BASE
» Within walking distance of Hazel Green High School and Hazel Green Elementary School, with a combined enrollment of 2,396 students
» Surrounded by affluent residential neighborhoods, with an average household income of $96,642 within a one-mile radius

NEW 2016 CONSTRUCTION
» 2016 construction featuring a dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» Features latest store designs and concepts

ROBUST HUNTSVILLE MSA ECONOMY
» Home to Cummings Research Park, the second largest research park in the U.S., and the Army’s Redstone Arsenal, with $10.56 billion in economic output
» The Huntsville MSA has experienced massive population growth, which is predicted to continue for the foreseeable future

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is conveniently located at the signalized intersection of U.S. Highway 231 and Twin Rivers Drive, with excellent visibility and access to 27,400 vehicles per day. U.S. Highway 231 is the primary route through Huntsville’s northern suburbs and connects Hazel Green to major population and employment centers located in downtown Huntsville. In addition to being the region’s principal thoroughfare, U.S. Highway 231 is also the primary retail corridor. The property is centrally located in Hazel Green’s main retail area and is directly across from a large shopping center anchored by Walmart. Other retailers in the center include Burger King, AT&T, Arby’s, Zaxby’s, and Papa Murphy’s. Adjacent to the Walmart shopping center, another retail plaza features major national tenants, including Dollar Tree, Hibbett Sports, and Verizon. Other notable retailers near the property include Rite Aid, Dollar General, and Sonic Drive-In, among others. Significant retail development is planned for the area, with construction of another retail strip center already underway near the property.

The property is centrally located less than a mile from downtown Hazel Green. Two large schools, Hazel Green High School and Hazel Green Elementary School, are both within walking distance of the property; the schools have a combined enrollment of 2,396 students. Major employers are located nearby, including Dixie MetalCraft Corporation, which employs 80 people at its Hazel Green facility. The property is also surrounded by affluent residential neighborhoods, with an average household income of $96,642 within a one-mile radius, providing an excellent customer base.

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