1837 Lee AveCullman, AL 35055

Property Details for 1837 Lee Ave

Year built

2024

Lot size

3.00 AC

Property size (Sq ft)

6,400 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 6,400 square foot Mach-1 Express Wash in Cullman, Alabama. Built in 2024, this single-story building sits on a 3-acre lot at 1837 Lee Ave SW, 35055. The property boasts a 20-year absolute NNN lease with a credit-rated, corporate-guaranteed tenant, eliminating landlord responsibilities. The lease features a 7.35% cap rate and a substantial $411,682 annual net operating income (NOI). Rent increases annually by 1.5%, ensuring consistent growth throughout the lease term, which includes four, 5-year renewal options extending to 11/30/2044. The property benefits from its strategic location in a densely populated retail corridor with numerous national tenants, including Walmart, Lowe's, and many others. Its proximity to Heritage Park, a major sports complex, and a Walmart Distribution Center further enhances its appeal. Traffic counts exceed 120,000 vehicles per day on Cherokee Ave SW, serving a 5-mile population of approximately 29,711 residents with an average household income of $96,361. This property is ideally suited for investors seeking a secure, high-return investment with significant long-term potential. The property qualifies for bonus depreciation.

Location Insight

City

Cullman

County

Cullman

State

Alabama

Latitude

34.1563

Longitude

-86.8423

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