1085 Mid City DrHuntsville, AL 35805

Property Details for 1085 Mid City Dr

Lot size

0.69 AC

Property size (Sq ft)

2,500 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, single-tenant net-leased Starbucks located at 1085 Mid City Dr, Huntsville, AL 35805. The 2,500 square foot property sits on a 0.69-acre lot and boasts a 10.1-year lease commencing October 15, 2023, and expiring October 31, 2033, leaving 8.9 years remaining. The lease includes four 5-year option periods with 10% rent increases every 5 years, offering significant long-term growth potential. The property features a double drive-thru, a key advantage in the fast-food sector. With a current Net Operating Income (NOI) of $205,000 and an asking price of $4,650,000, this investment offers a compelling 4.41% cap rate. The property enjoys 100% occupancy and benefits from a corporate guarantee, minimizing landlord responsibilities. Strategically positioned within the MidCity District, a 140-acre mixed-use development featuring over 660,000 square feet of retail space, 400,000 square feet of office space, and numerous residential units, this Starbucks enjoys high visibility and traffic. Nearby attractions include Top Golf, Dave & Buster's, High Point Climbing & Fitness, REI, and the Orion Amphitheater. Huntsville's thriving economy, fueled by the presence of Cummings Research Park (the second largest research park in the U.S.) and the U.S. Space Command, ensures a strong and stable market for this investment. The price per square foot is $1,860. This is a truly exceptional opportunity to acquire a high-performing asset in a rapidly growing market.

Location Insight

City

Huntsville

County

Madison

State

Alabama

Latitude

34.7397

Longitude

-86.6665

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