Wells Fargo Ground Lease | Shopping Center Outparcel
Outparcel to Publix, Hobby Lobby, & Home Depot | Long Term Corporate Lease
Marketing description
Cushman & Wakefield has been retained on an exclusive basis to market this Wells Fargo ground lease property in Dothan, Alabama. This is a long-term (14 years remaining) corporate-guaranteed absolute NNN ground lease to Wells Fargo, the fourth-largest bank in the United States by total assets (S&P: A+ | Moody's: Aa2).
The property features 10% rental increases every five (5) years in the initial term and three (3) option periods of five (5) years each, ensuring consistent income growth. The tenant covers all taxes, insurance, and maintenance, including roof, structure, and parking lot, providing a fully passive investment.
The 3,951-SF building sits on a large 1.10-acre parcel and features a drive-thru component for added customer convenience. The property is highly visible and easily accessible along Montgomery Highway (37,000+ AADT) and serves as an outparcel to a Publix, The Home Depot, and Hobby Lobby anchored multi-tenant shopping center. The site is surrounded by a strong mix of local and national retailers and is within walking distance from Wiregrass Commons Mall (approximately 70 stores, 638,000-SF of retail).
Dothan benefits from a populous and affluent demographic base with 65,320 residents within five miles and high average annual household income of $89,203 within one mile. The market is poised for steady growth with projected population and income increases over the next five years.
Investment highlights
- Long-term (14 years remaining) corporate-guaranteed absolute NNN ground lease to Wells Fargo, the fourth-largest bank in the United States by total assets (S&P: A+ | Moody's: Aa2).
- 10% rental increases every five (5) years in initial term and three (3) option periods of five (5) years each, ensuring consistent income growth.
- Tenant covers all taxes, insurance, and maintenance, including roof, structure, and parking lot, providing a fully passive investment.
- Wells Fargo reported a net income of approximately $21.3 billion and diluted earnings per share growth of about 17% in 2025, demonstrating robust profitability.
- Wells Fargo reported Q1 2026 net income of $5.9 billion, a 4% increase year-over-year.
- Loan balances have increased by $10.6 billion year-over-year, reflecting an effective growth strategy.
- 3,951-SF building on large 1.10-acre parcel to accommodate for Wells Fargo's operational efficiency.
- Site features a drive-thru component for added customer convenience.
- Highly visible and easily accessible location along Montgomery Highway, allowing for prime site visibility (37,000+ AADT).
- The site's proximity to the intersection of U.S. Route 231 & U.S. Route 84 (combined 67,000+ AADT) allows the property to capture significant local and commuter traffic.
- Property serves as an outparcel to a Publix, The Home Depot, and Hobby Lobby anchored multi-tenant shopping center, allowing for prime crossover retail opportunities.
- Surrounded by a strong mix of local and national retailers that drive the regions economic activity, including Sam's Club, T.J. Maxx, JCPenney, Chili's Bar & Grill, Dillards, McDonald's, Starbucks, and many more.
- Walking distance from Winegrass Commons Mall (approximately 70 stores, 638,000-SF of retail).
- 65,320 residents live within five miles of the property, marking a steady increase since 2010.
- High average annual household income of $89,203 within a one-mile radius of the property.
- Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise this Wells Fargo and Dothan for steady concurrent growth.
- Benefits from proximity 18 miles from Alabama/Florida border, driving significant regional economic activity.
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