21 Head DrCleveland, AL 35049

Property Details for 21 Head Dr

Year built

2022

Lot size

1.47 AC

Property size (Sq ft)

10,500 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a 10,500-square-foot Family Dollar Tree retail property located at 21 Head Dr, Cleveland, AL 35049. Built in 2022, this single-story building sits on a 1.47-acre lot and boasts 28 parking spaces. The property features a convenient store and grocery store combination format, operating under a net lease (NN) with a corporate guarantee. The current lease term exceeds 10 years, ensuring long-term stability and a 100% occupancy rate. The property's strong financial performance is reflected in its $1,446,000 asking price, a $137.71 price per square foot, and a 7.00% cap rate, generating a net operating income (NOI) of $101,220. The property is zoned COMMERCIAL and has an APN of 15-04-18-0-003-021-015. The location benefits from high visibility on Highway 160, with a daily vehicle count of 5,050. Furthermore, the surrounding area demonstrates strong demographics, with a median household income (HHI) of $52,682 and an average HHI of $63,106 within a 3-mile radius. This investment is further strengthened by the tenant's resilience to e-commerce and pandemic-related disruptions. The property is offered fee simple.

Location Insight

City

Cleveland

County

Blount

State

Alabama

Latitude

33.9851

Longitude

-86.5854

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