Jack’s Ground Lease,
Eufaula, AL Investment Summary
| Price | $843,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 20 Years |
| Lease Type | Absolute NNN, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2019 |
| Building Size | 3,522 SF |
| Lot Size | 0.8 Acres (34,848 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Cushman & Wakefield 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 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
LONG-TERM ABSOLUTE NNN GROUND LEASE TO CORPORATE TENANT
» New 20-year lease with four five-year option periods
» No landlord management, ideal for an out-of-area investor
» 10% rental increases every five years, providing a hedge against inflation
HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Conveniently located on South Eufaula Avenue, Eufaula’s main north-south thoroughfare, with excellent access and visibility to 28,420 vehicles per day
» In the city’s primary retail corridor near notable regional and national retailers
» Nearby retailers include Winn-Dixie, Tractor Supply, Goody’s, Farmers Home Furniture, Marvin’s, Cato, Piggly Wiggly, Dollar Tree, Aaron’s, McDonald’s, AutoZone, and many more
CENTRAL LOCATION WITH STRONG CUSTOMER BASE
» Less than one mile from downtown Eufaula
» Easy access to Walter F. George Lake, also known as Lake Eufaula, which is a popular tourist attraction, drawing nearly 4 million visitors annually
» Close to industrial regions that are home to some of the area’s largest employers, including Johnson Outdoors (209 employees), Southern Plastics (150 employees), and M.C. Dixon Lumber Company (111 employees)
NEW 2019 CONSTRUCTION WITH DRIVE-THRU
» High-quality 2019 construction featuring dedicated drive-thru
» Built by tenant at tenant’s expense, showing long-term commitment to the location
» New building, limiting near-term deferred maintenance or capital costs
Property Description
SOLD
The property is conveniently located on South Eufaula Avenue, Eufaula’s main north-south thoroughfare, with excellent access and visibility to 28,420 vehicles per day. The property is in the city’s primary retail corridor and is near notable regional and national retailers. Across from the property is a shopping center anchored by Winn-Dixie, Tractor Supply, and Goody’s. Two more shopping centers featuring Farmers Home Furniture, Marvin’s, Cato, Piggly Wiggly, and Dollar Tree are within walking distance. Other notable retailers located near the property include Family Dollar, O’Reilly Auto Parts, Aaron’s, McDonald’s, AutoZone, and many more.
The property is centrally located less than one mile from downtown Eufaula. The property enjoys easy access to Walter F. George Lake, also known as Lake Eufaula, which is a popular tourist attraction, drawing nearly 4 million visitors annually. The property is also close to industrial regions that are home to some of the area’s largest employers, including Johnson Outdoors (209 employees), Southern Plastics (150 employees), and M.C. Dixon Lumber Company (111 employees).
