323 Main StRainsville, AL 35986

Property Details for 323 Main St

Year built

1999

Property size (Sq ft)

1,800 SF

Property type

Retail properties

APN

15-04-19-0-001-062.000

APU

1504190001062000

Description

This exceptional investment opportunity presents a single-tenant, absolute triple-net (NNN) leased Burger King restaurant in Rainsville, Alabama. The property boasts a 3,794 square foot building situated on a 1.16-acre lot at 323 Main Street West, zip code 35986. With a lease expiration date of October 30, 2038, this investment offers a substantial remaining lease term of over 14 years. The property generates a strong net operating income (NOI) of $127,856, resulting in a compelling 6.50% cap rate. The asking price is $1,967,015, translating to a price per square foot of $518.45. Built in 2000, the restaurant benefits from built-in rent bumps. Main Street in Rainsville experiences high traffic volume, exceeding 13,370 vehicles per day, ensuring excellent visibility and accessibility. The property's location in Rainsville, strategically positioned between Huntsville and Chattanooga, benefits from a growing population and is surrounded by other well-known QSR brands including McDonald's, Taco Bell, Pizza Hut, and Subway. Burger King Corporation assumed control of this location in January. Rainsville is also known for its outdoor recreational opportunities. This is a rare opportunity to acquire a stable, high-performing, long-term net lease investment in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $559,641

  6.5%

  $516,591

  7%

  $479,692

• Comparable approach

  Method

  Valuation

  Relative Method

  $738,869

  Geo Method

  $884,792

• Alternative Use

  Use

  Valuation

  Residential

  $435,764

  Hospitality

  $399,158

  Educational

  $332,094

  Medical

  $343,516

  Retail

  $516,591

Location Insight

City

Rainsville

County

Dekalb

State

Alabama

Latitude

34.4921

Longitude

-85.8422

CBSA code

22840

CBSA name

FORT PAYNE, AL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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