7% CAP Rate Investment Property in Daphne AL

Retail-Commercial for Sale
Catylist Listing ID: 30390469
Property Subtypes: Mixed Use, Retail-Pad, Street Retail, Vehicle Related, Other
Building Size (RSF): 2,800 SF
Gross Building Area: See Agent
Gross Land Area: 1.92 Acres
Sale Price: $1,635,000
Unit Price: $583.93 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: "Sunrise Marine Daphne"
Sale Terms: Cash to Seller, Other
Cap Rate: 7.0%
Last Updated: 7/15/2019

Overview / Comments

This investment property is listed at 7% CAP rate with a single national tenant - One Water Marine/ Legendary Marine that operates "Sunrise Marine Daphne" business at that location.

The property is located within one mile off I-10 and is strategically positioned in the main retail corridor in Daphne, AL right next to a busy car wash and alongside to many national hospitality, restaurant, and retail tenants: Home Depot, Bass Pro Shop, Dick's Sporting Goods, Hobby Lobby, Waffle House, Zaxby's, Taco Bell, Hooters, Pizza Hut, etc.

Traffic count is 37,500 AADT.

The property sits on 1.92 acres with an easy access from US-98 through a service road and has two buildings: sales office (~1000 sqft) and a new maintenance/ service facility (~1800 sqft building plus ~1000 sqft pad under the roof that can be enclosed if needed).

Additional Details

Nearest MSA: Daphne-Fairhope-Foley
County: Baldwin
Taxing Authority: Baldwin County
Tax ID/APN: 43-03-06-0-004-010-003
Zoning: B-2/ GENERAL BUSINESS DISTRICT
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Other
Property Visibility: Excellent
Largest Nearby Street: I-4 and Hwy 98
Traffic/Vehicle Count: 37,500
Highway Access: Interstate I-10 within 1 mile.
Tenancy: Single Tenant
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Excellent
Zoning Description: B-2/ General Business District

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,987 19,656 37,981
Median Age: 37.73 40.51 39.89
Households: 1,760 8,263 15,153

Contact

Photograph of Listing Agent

Oxana Solovieva

OxanaSol Real Estate Gulf Coast CMLS Member
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