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1260 Hwy 72 E
Athens, AL 35611 Athens

$4,165,686

Restaurant For Sale  •  14,400 Sq Ft

Property Details

  • Property Type Restaurant
  • Total Building Size 14,400 Sq Ft
  • Lot Size 1.57 ac
  • Building Class B
  • Year Built 2006
  • Cap Rate 7.00 %
  • Tenancy Multiple
  • Zoning B3
0 Transit Score
28 Walk Score

Description

INCREDIBLE RETAIL FUNDAMENTALS
- High Traffic Counts – the subject property is located on the premier traffic corridor of Highway 72 (± 34,000 ADT), which serves as the major thoroughfare between Huntsville and Athens
- Phenomenal Retail Location – nearby national retailers include: Chick-Fil-A, Dairy Queen, DaVita Dialysis, Chevron, Krystal, Applebee’s, IHOP, Pep Boys and Bojangles’, McDonald’s, Burger King and more
- In addition to the impressive retail synergy, this location benefits from several National Hotel Brands, located walking distance from major hotels including: Fairfield Inn & Suites by Marriot, Days Inn, Best Western Inn, Super 8, Holiday Inn & Suites, Quality Inn, Hampton Inn and more
- This property is ideally situated between two major highways – directly off the exit for I-65 and Hwy 31
- Located less than a mile from a Walmart Supercenter and Lowe’s Home Improvement, this asset holds strong intrinsic value as part of the dominant retail trade area
MARKET & AREA HIGHLIGHTS
- With Average Household Incomes of over $106,575 within a 1-mile radius, the subject property is located in an affluent area just outside of the major MSA of Huntsville, Alabama
- The city of Athens is part of the Huntsville, AL MSA; Huntsville is projected to become the largest city in Alabama by 2022
- Substantial Growth – this market has experienced over 18% growth from 2010-2017 and is projected for an additional 9% growth over next 5 years
- Athens serves as the county seat of Limestone County in Alabama
- Athens is home to several educational institutions within the 3-mile trade area, namely, Athens State University, Athens Middle School and Athens High school
PROPERTY & LEASE HIGHLIGHTS
- The property has enjoyed a long-term history of full occupancy with several regional and national tenants
- Professionally owned and maintained premises – high-end landscaping and general upkeep
- This offering provides potential investors the opportunity to create substantial value from an 8-tenant strip center, paired with a high-performing single-tenant Starbucks
- Athens Plaza is an unparalleled opportunity for investors to purchase a multi-tenant asset with Minimal Landlord Responsibility, providing NNN leases with each tenant
- Starbucks recently executed a brand new 10-year lease extension, indicative of its high-level performance and commitment to the location
- As the only Starbucks location in the Athens market, the Starbucks property serves as the region’s leading Starbucks store: The closest Starbucks is 17 miles away
Cap Rate: 7.00 %

Amenities

  • Pylon Sign
  • Signalized Intersection
  • Drive Thru

Public Transportation

AirportDriveWalkDistance
Huntsville International-Carl T. Jones Field Airport 28 min - 21.9 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 75
Type: Surface
Included in Rent: Yes
Andrew Gross 214-295-4511 Matthews Real Estate Investment Services
Andrew Gross 214-295-4511 Matthews Real Estate Investment Services