3020 Cloverdale RdFlorence, AL 35633

Property Details for 3020 Cloverdale Rd

Year built

2023

Lot size

0.93 AC

Property size (Sq ft)

3,570 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, 3,570 square foot Slim Chickens restaurant in Florence, Alabama. The property boasts a 20-year absolute NNN lease with the largest Slim Chickens franchisee, Dixie Chicken, LLC, which operates 15 locations. The lease includes attractive 7.5% rent bumps every five years, ensuring consistent income growth. Built in 2023, this build-to-suit location features a modern design and a double drive-thru, maximizing operational efficiency. Situated on a 0.93-acre lot with excellent visibility on Cloverdale Road, the property benefits from high traffic counts exceeding 22,310 vehicles per day. Its strategic location is complemented by proximity to a large church and Walmart, ensuring high foot traffic and brand recognition. The property's strong demographics include a 5-mile population of 48,859 and an average household income of $75,780 within a 1-mile radius. The current Net Operating Income (NOI) is $195,101, yielding a 6.00% cap rate. The lease features four 5-year renewal options, providing long-term security and investment stability. This fee-simple ownership includes both the building and land, offering complete control and potential for future appreciation. The property is zoned C and offers a single unit within a one-story building. This is a rare opportunity to acquire a high-performing, passively managed investment with significant long-term potential.

Location Insight

City

Florence

County

Lauderdale

State

Alabama

Latitude

34.8477

Longitude

-87.69

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