3076 John Hawkins PkwyHoover, AL 35244

Property Details for 3076 John Hawkins Pkwy

Year built

1995

Lot size

1.66 AC

Property size (Sq ft)

7,371 SF

Zone code

C4

Property type

Retail properties

Property subtype

Turn key restaurants

APN

39-00-13-3-000-006.000

APU

3900133000006000

Description

This exceptional investment opportunity presents a 100% leased, freestanding multi-tenant retail property in Hoover, Alabama. Located at 3076 John Hawkins Pkwy, this 12,150 square foot building sits on a 1.75-acre lot and boasts two strong national tenants: Verizon Wireless and CAVA. Built in 2023, the property benefits from scheduled rent bumps, ensuring consistent income growth. The property enjoys an extremely high-visibility location at the northwest corner of John Hawkins Parkway and US Route 31/Montgomery Highway, a major thoroughfare with 61,341 average annual daily traffic. Its prime outparcel location within a prominent shopping center, near the confluence of Interstates 459 and 65 (combined 234,626 AADT), provides excellent visibility and accessibility. The surrounding area features a robust retail presence, including Costco, Home Depot, Sam's Club, and many other national retailers, creating significant crossover shopping opportunities. The property's location within a five-mile radius of 126,882 residents, with an average annual household income of $129,672, ensures a large and reliable customer base. The property's strong tenants, prime location, and projected population and income growth within the area make this a highly attractive, "Amazon-proof" investment. The current Net Operating Income (NOI) is $342,000, resulting in a 7.03% cap rate, and the asking price is $4,864,000. This is a Net Lease (NN+) investment with a multi-tenant occupancy. The property is offered as a 1031 exchange opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $2,291,728

  6.5%

  $2,115,441

  7%

  $1,964,338

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,025,668

  Geo Method

  $3,623,224

• Alternative Use

  Use

  Valuation

  Residential

  $1,784,454

  Hospitality

  $1,634,550

  Educational

  $1,359,926

  Medical

  $1,406,696

  Retail

  $2,115,441

Location Insight

City

Hoover

County

Jefferson

State

Alabama

Latitude

33.3769

Longitude

-86.805

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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