281 Eastern Shore Shopping CtrFairhope, AL 36532

Property Details for 281 Eastern Shore Shopping Ctr

Year built

2024

Lot size

0.50 AC

Property size (Sq ft)

2,500 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple interest in a brand-new, 2,500-square-foot Starbucks located in Fairhope, Alabama. The property, built in 2024, sits on a 0.5-acre lot within a Winn-Dixie-anchored shopping center, enjoying high visibility from the 27,000 vehicles that travel US-98 daily. The single-tenant building is currently 100% occupied under a 10-year net lease (NN) with Starbucks, commencing September 24, 2024, and expiring September 30, 2034. The lease includes six, five-year renewal options and a 10% rent increase every five years. The property boasts a strong net operating income (NOI) of $199,750, resulting in a 6.00% capitalization rate. Fairhope is experiencing significant growth, with a 68% population increase since 2010, making this a prime location for long-term investment. The property's Class A construction and strategic location within Baldwin County, the 7th fastest-growing metro region in the US, further enhance its investment appeal. This is a rare opportunity to acquire a high-performing, single-tenant net lease property in a rapidly expanding market. The asking price is $3,330,000.

Location Insight

City

Fairhope

County

Baldwin

State

Alabama

Latitude

30.5227

Longitude

-87.8857

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