916 Van AveDaphne, AL 36526

Property Details for 916 Van Ave

Year built

2024

Lot size

0.73 AC

Property type

Retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a Starbucks located at 916 Van Ave, Daphne, AL 36526. The property boasts a 2,500 square foot building on a 0.73-acre lot, constructed in 2024. It features a drive-thru and ample parking (27 spaces). The property benefits from a prime location at a signalized, hard corner intersection of US Hwy 98 and Van Ave, averaging 34,900 vehicles per day. Surrounding retailers include Target, Chick-fil-A, and Chipotle, ensuring high visibility and traffic. The 10-year lease (commencing June 28, 2024, and expiring June 30, 2034) with a credit-rated Starbucks tenant offers a strong, stable income stream. The lease is a Net Lease (NN), minimizing landlord responsibilities to roof, structure, foundation, utility lines, and parking lot capital repairs. The tenant covers CAM, taxes, and insurance. Rent increases by 5% every 5 years, and six 5-year lease options are included. The property's Net Operating Income (NOI) is $224,928, resulting in a 6.00% cap rate. This is a management-free investment opportunity in a state with no state income tax, making it an ideal addition to any passive investment portfolio. The property's strategic location, strong tenant, and favorable lease terms make this a compelling investment prospect. The asking price is $3,749,000.

Location Insight

City

Daphne

County

Baldwin

State

Alabama

Latitude

30.5979

Longitude

-87.899

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