For Sale
$1,370,000

303 Main StOpp, AL 36467

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple ownership of an 8,353-square-foot grocery store located at 303 S Main St, Opp, Alabama, 36467. The property boasts a 7.75% cap rate and a strong NOI of $106,207. The tenant, Family Dollar, operates under a corporate-guaranteed absolute NNN lease with 5.6 years remaining, expiring June 29, 2030. Rent commencement is June 28, 2030. The lease, originally commencing September 13, 2015, includes rent bumps every three years, not exceeding 6%, providing consistent income growth. Built in 2016, this well-maintained property sits on a 1.67-acre lot and benefits from recent renovations completed by the tenant. The property enjoys 100% occupancy since its opening on September 13, 2015, and is situated in a high-traffic location with a reported 13,200 vehicles per day. The asking price is $1,370,000, translating to $164.01 per square foot. This is a rare opportunity to acquire a stable, high-performing retail investment with a long-term, creditworthy tenant and significant upside potential. The property's location and the tenant's financial strength make this a compelling investment for discerning buyers. This is a net lease, meaning the tenant is responsible for all operating expenses.

Highlights

  • Absolute NNN lease with no landlord expenses.
  • Rent increases every 3 years, capped at 6%.
  • Tenant recently completed H2 upgrade renovations.
  • 5.6 years remaining on the lease term.
  • Corporate lease guaranty from Family Dollar Stores, Inc.

Property Details for 303 Main St

Property type
Retail properties, Grocery and convenience stores
Square Feet
8,353 SF
Year Built
2016
Lot Size (sq. ft)
72,745 SF

Location Insight

City
Opp
County
Covington
State
Alabama
Latitude
31.2810556
Longitude
-86.2558775
303 Main St, Opp, 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].
303 Main 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