For Sale
$5,937,500

4303 Court StMontgomery, AL 36105

High-yield retail investment, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple ownership of a brand-new (2024), 3,600 square-foot ExtraMile convenience store and gas station located at 4303 S Court St, Montgomery, AL 36105. Boasting a prime location on a signalized 4-way intersection with excellent visibility and access, this property sits on a substantial 1.25-acre lot. The property benefits from a rare 20-year absolute triple-net (NNN) lease with four, 5-year renewal options, providing significant long-term stability and predictable cash flow. Rent escalations of 1.5% annually further enhance the investment's value. The current Net Operating Income (NOI) is $380,000, resulting in a compelling 6.40% cap rate. The asking price is $5,937,500, translating to $1,649.31 per square foot. This ExtraMile location is part of a rapidly expanding 200+ unit franchisee operating across six states. The property's strategic location within a densely populated Montgomery corridor benefits from proximity to major employers like Hyundai Motor Manufacturing Alabama and the planned Meta data center, contributing to strong local economic drivers. Tax advantages are available through accelerated and bonus depreciation. This is a turnkey investment with minimal landlord responsibilities and significant upside potential. The property is 100% occupied and offers a robust investment opportunity with a strong tenant and favorable lease terms.

Highlights

  • Strong fundamentals in a densely populated Montgomery corridor; ±41,702 population within 3 miles, ±97,662 within 5 miles.
  • 1.25-acre parcel on a signalized four-way intersection with multiple ingress/egress points and ample fuel canopy (8 gasoline lanes, 2 diesel lanes, 4 MPD).
  • Nearby economic drivers include a new Meta data center, Hyundai Motor Manufacturing Alabama, and Glovis America, all within 5 miles.
  • Optimal lease structure: 20-year base term with four 5-year renewal options, 1.5% annual rent escalations, absolute NNN lease, and tax advantages.
  • Montgomery, AL benefits include being Alabama's capital, strong GDP, favorable housing market rankings, and major employers like Maxwell Air Force Base and Hyundai.
  • Large, established franchisee: 200+ unit operator with a 30+ year history, operating across six states. ExtraMile is a top-10 US gas/c-store chain, a joint venture between Chevron and Jacksons Food Stores.

Property Details for 4303 Court St

Property type
Retail properties, Grocery and convenience stores
Square Feet
3,600 SF
Year Built
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
54,450 SF
Units
1

Location Insight

City
Montgomery
County
Montgomery
State
Alabama
Latitude
32.3262356
Longitude
-86.3072351
4303 Court St, Montgomery, Alabama

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
4303 Court St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message