123 Premier DrGeneva, AL 36340

Property Details for 123 Premier Dr

Year built

2018

Lot size

0.85 AC

Property size (Sq ft)

3,435 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a 3,435 square foot, free-standing Burger King building located at 123 Premier Drive, Geneva, AL 36340. Built in 2018, this Class B property sits on a 0.85-acre lot and boasts a 100% occupancy rate under a 20-year Absolute NNN lease with 14 years remaining. The lease commenced October 29, 2018, and expires October 31, 2038, featuring 10% rent bumps every five years, providing a strong hedge against inflation. The current annual net operating income (NOI) is $67,000, representing a 6.00% cap rate on the asking price of $1,117,000. The lease is backed by Bulldog Restaurants, LLC, a subsidiary of Starboard Investments, a significant operator of numerous restaurant locations. The property benefits from a healthy sub-8.5% rent-to-sales ratio and shows strong sales growth of approximately 8.5% in 2023, indicating potential for increased future income. The property enjoys a prime location within Geneva's main retail corridor, with excellent visibility and proximity to major retailers like Walmart and Piggly Wiggly, a medical center, a high school, and a food distributor. This is a passive investment opportunity with zero landlord responsibilities, offering significant long-term value and potential for immediate upside based on 2023 sales exceeding percentage override thresholds.

Location Insight

City

Geneva

County

Geneva

State

Alabama

Latitude

31.0497

Longitude

-85.8988

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