For Sale
$939,485

6554 Aaron Aronov DrFairfield, AL 35064

High-yield, NNN-leased medical building.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 5,093-square-foot Class A retail building in Fairfield, Alabama, currently leased to American Family Care, Inc. under a new 15-year Absolute NNN lease commencing August 1, 2023, and expiring July 31, 2038. The property boasts a strong 7.21% cap rate and a substantial net operating income (NOI) of $67,737. The lease includes annual rent bumps tied to CPI increases, with a 2% floor and no cap, ensuring consistent income growth. The tenant, American Family Care, Inc., provides a corporate guarantee, mitigating risk. The building enjoys a highly visible location on Aaron Aronov Drive, experiencing an impressive 16,595 average annual daily traffic (AADT) in 2022. Its strategic proximity to Miles College (1.7 miles) and Lawson State Community College (2.9 miles) further enhances its appeal and potential for long-term success. The property offers a compelling investment proposition with minimal landlord responsibilities due to the Absolute NNN lease structure. The asking price is $939,485, translating to a price per square foot of $184.47. This represents a rare opportunity to acquire a stable, high-performing asset with significant long-term growth potential. The lease also includes a 10-year option.

Highlights

  • $939,485 asking price for a 5,093 SF Class A retail property in Fairfield, AL.
  • Absolute NNN lease with corporate-guaranteed American Family Care tenant.
  • 15-year lease (commencing August 1, 2023) with 13.7 years remaining, including a 10-year option.
  • 7.21% cap rate and $67,737 annual NOI.
  • Annual rent increases based on CPI, with a 2% floor and no cap.

Property Details for 6554 Aaron Aronov Dr

Property type
Retail properties, Medical centers
Square Feet
5,093 SF
Class
A

Location Insight

City
Fairfield
County
Jefferson
State
Alabama
Latitude
33.4719775
Longitude
-86.9209909
6554 Aaron Aronov Dr, Fairfield, Alabama

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6554 Aaron Aronov Dr
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