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14730808
14730809

504 E Meighan Blvd, Gadsden, AL 35903

BM
GA 263081
Marcus & Millichap - Atlanta
Listed by Marcus & Millichap - Atlanta
$1,375,000
863 days on market
Updated 52 days ago

Krispy Kreme Ground Lease

Details
Property Type Retail
Sub Type Restaurant
Square Footage 2,671
Cap Rate 5.65%
NOI $77,500
Occupancy 100%
Tenancy Single
Brand/Tenant Krispy Kreme
Lease Type NNN
Lease Expiration 09/30/2032
Remaining Term 6.3
Rent Bumps Yes
Lease Options 4, 5-year options
Price per SqFt $515
Broker Co-Op Yes
Year Built 2015
Acreage 1.310
Investment Type Net Lease
Lease Commencement 10/01/2015
Ground Lease Yes

Low Rent | Corp. Guarantee | Main Retail Hub | Next to Top Performing Walmart

Investment highlights

  • Low rent, corporately guaranteed Krispy Kreme Ground Lease with approximately 7 years remaining located in Gadsden, AL, approximately 60 miles northeast of Birmingham, AL

  • Conservative rent of only $77,500 ($29.02/SF) with four (4), five (5) year option periods

  • Absolute NNN Ground Lease on over 1.3 acres

  • 2,671 SF state of the art construction built in 2015 with a drive-thru

  • Krispy Kreme, Inc. was founded in 1937 and has over 2,200 locations in over 40 countries- total revenue of approximately $1.66 billion in 2024

  • Adjacent to a 3M SF Takkion Clean Energy Plant that will be used as a storage and handling hub for solar panels and other devices that will be distributed to clean energy projects across the U.S.

  • Takkion is an industry leading global renewal energy logistics company based in Wyoming- the new operation will put Gadsden in the center of distribution for the entire renewable energy industry throughout the Southeast

  • Located in the main retail corridor of Gadsden as an outparcel to River Trace shopping center- anchored by Hobby Lobby, Ross, Five Below, and Shoe Carnival- over 1.9 million annual visitors for the entire center and over 408K visitors for Hobby Lobby

  • Adjacent to one of the top Walmart’s in the state of Alabama- over 2.7 million annual visitors- 86th percentile for Alabama (15th out of 102) and 79th percentile in U.S. (810th out of 3,883)

  • Approximately 1 mile from Gadsden Regional Medical Center- 346-bed hospital with over 2,000 healthcare professionals

  • Located near Coosa Town Center- anchored by T.J.Maxx, Old Navy, and Bealls- over 3.9 million annual visitors- 90th percentile for Alabama (12th out of 115) and 81st in U.S. (1,360th out of 7,219)

  • Dense retail corridor with national tenants such as: Aldi, Walgreens, Popeye’s, Arby’s, Burger King, Panda Express, Panera, Captain D’s, Dairy Queen, and Taco Bell

  • Over 37,000 cars/day on E Meighan Boulevard

Listing Contacts

BM
GA 263081
Marcus & Millichap - Atlanta
Listed by Marcus & Millichap - Atlanta

Valuation Calculator

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$77,500.00
$6,458.33/mo

Valuation Metrics

0
DSCR
5.64%
Cap Rate
5.64%
ROI

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Additional Information

Name
Eddie Greenhalgh
License
0000882980
Brokerage
Marcus & Millichap
Title
Broker of Record
Brokerage Address
800 Shades Creek Parkway, Suite 815, Birmingham, AL 35209
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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