16 Saraland Blvd N
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16 Saraland Blvd N
1,500 SF 4-Star Retail Building Saraland, AL 36571 £474,006 (£316/SF) 8% Net Initial Yield
Investment Highlights
- Tenant is Prime Communications (Largest AT&T Franchisee in the USA with more than 2,000 AT&T store locations.)
- One 10-Year Option with 10% Rent Increases Every 5 Years.
- Lighted Intersection with Three Intersecting Highways- 23,000+ Vehicles Per Day at Intersection.
- Growing Suburb of Mobile, Alabama with strong demographics.
Executive Summary
Marcus & Millichap, as exclusive advisor to the Seller, is pleased to offer for sale a 1,500 square foot Freestanding AT&T in Saraland (Mobile, MSA) Alabama. The subject property is ideally positioned at the intersection of Highway 43 North and Celeste Road.
The Tenant, Prime Communications, LP, signed a 10 year double-net lease which commenced June 1, 2016. The lease is double-net in nature with the Landlord responsible for only the roof and structure. Taxes, Insurance and CAM expenses are reimbursed by the Tenant. The lease features ten percent rent increases every five years and the tenant has one 10-year option to renew the lease. Prime is the largest AT&T Authorized Retailer in the United States with over 2,000 locations from coast-to-coast.
The Tenant, Prime Communications, LP, signed a 10 year double-net lease which commenced June 1, 2016. The lease is double-net in nature with the Landlord responsible for only the roof and structure. Taxes, Insurance and CAM expenses are reimbursed by the Tenant. The lease features ten percent rent increases every five years and the tenant has one 10-year option to renew the lease. Prime is the largest AT&T Authorized Retailer in the United States with over 2,000 locations from coast-to-coast.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
1,500 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2016
Price
£474,006
Price Per SF
£316
Net Initial Yield
8%
NOI
£37,920
Tenancy
Single
Number of Floors
1
Building FAR
0.34
Land Acres
0.10 AC
Zoning
B-1 - Neighborhood Business District
Parking
45 Spaces (30 Spaces per 1,000 SF Leased)
Frontage
34 ft on Us-43 Hwy
Amenities
- Freeway Visibility
PROPERTY TAXES
| Parcel Number | 19-08-33-0-008-068 | Improvements Assessment | £29,452 |
| Land Assessment | £4,945 | Total Assessment | £34,397 |
PROPERTY TAXES
Parcel Number
19-08-33-0-008-068
Land Assessment
£4,945
Improvements Assessment
£29,452
Total Assessment
£34,397
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Andrew Chason CCIM -
Marcus & Millichap
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16 Saraland Blvd N
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