1804 2Nd AveCullman, AL 35055

Property Details for 1804 2Nd Ave

Year built

2000

Lot size

1.42 AC

Property size (Sq ft)

11,936 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

17-05-22-4-002-001.000

APU

1705224002001000

Description

This fee-simple, 11,661 square foot Aaron's Furniture storefront in Cullman, Alabama, presents a compelling investment opportunity. Located on a 1.57-acre lot at 1804 2nd Ave SW, this property boasts high visibility and accessibility, benefiting from over 15,000 vehicles per day. The property is currently leased under an absolute NNN lease with a corporate guarantee from Aaron's, providing significant security. The lease, commencing December 9, 2010, has a remaining term of 1.1 years, followed by two 5-year options with rent bumps. Built in 2008, the single-building property offers a current NOI of $117,875, representing a 9.50% cap rate at an asking price of $1,240,791 ($106.41/sq ft). The property's strategic location along the I-65 corridor, near major retailers like Tractor Supply, Buffalo Wild Wings, and Walmart, further enhances its investment appeal. This below-market rent provides significant potential for future rental growth and increased ROI. 100% occupancy ensures immediate cash flow. Consider this exceptional opportunity to acquire a stable, high-performing retail asset in a thriving Alabama market.

• CAP approach

  CAP return

  Valuation

  6%

  $3,130,400

  6.5%

  $2,889,600

  7%

  $2,683,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,013,595

  Geo Method

  $3,608,766

• Alternative Use

  Use

  Valuation

  Residential

  $2,889,600

  Hospitality

  $2,646,858

  Educational

  $2,202,155

  Medical

  $2,277,890

  Retail

  $3,425,574

Location Insight

City

Cullman

County

Cullman

State

Alabama

Latitude

34.1544

Longitude

-86.8336

CBSA code

18980

CBSA name

CULLMAN, AL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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