1425 Mcfarland BlvdNorthport, AL 35476

Property Details for 1425 Mcfarland Blvd

Year built

1983

Construction

WOOD

Property size (Sq ft)

2,278 SF

Zone code

C-6

Property type

Turn key restaurants

APN

31-02-10-2-005-004.000

APU

3102102005004000

Description

This exceptional investment opportunity presents a fee-simple, single-tenant retail building housing a Tropical Smoothie Cafe and Cookie Plug, both operating under a 15-year absolute NNN lease commencing July 12, 2024, and expiring July 31, 2039. The 2,296 square foot building, situated on a 0.51-acre lot, underwent a complete renovation in 2024. The property boasts a 6.25% cap rate and 100% occupancy. Rent increases of 7.5% are built into the lease every five years, providing significant long-term growth potential. The lease includes three, five-year renewal options. The tenant is a multi-unit franchisee with nine locations, demonstrating a commitment to the brand and the market. The property benefits from a prime location across from a Walmart and Chick-fil-A, near a high-traffic intersection (84,000 vehicles daily), and within a densely populated area (5-mile population of 121,744). The property's proximity to Northport Medical Center (over 600,000 annual patient visits) and the University of Alabama campus further enhances its desirability. The strong tenant, coupled with the favorable lease terms and strategic location, makes this a compelling investment opportunity. The asking price is $2,660,704. The property is located at 1425 McFarland Blvd, Northport, AL 35476.

• CAP approach

  CAP return

  Valuation

  6%

  $468,731

  6.5%

  $432,675

  7%

  $401,770

• Comparable approach

  Method

  Valuation

  Relative Method

  $398,446

  Geo Method

  $1,119,754

• Alternative Use

  Use

  Valuation

  Residential

  $364,977

  Hospitality

  $334,317

  Educational

  $278,148

  Medical

  $287,714

  Retail

  $432,675

Location Insight

City

Northport

County

Tuscaloosa

State

Alabama

Latitude

33.2371

Longitude

-87.5725

CBSA code

46220

CBSA name

TUSCALOOSA, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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