Listed by JLL - Irvine (Orange County), California, JLL Chicago | Americas Headquarters
$10,193,000
Going Going Gone (DICK'S) - Hoover, AL
Details
Property Type Retail
Sub Type Storefront
Square Footage 50,302
Cap Rate 7.60%
NOI $774,651
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Expiration 01/31/2031
Rent Bumps Yes
Year Built 2015
Acreage 7.230
Investment Type Net Lease
Retail | 7.60% CAP | 50,302 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant Going, Going, Gone! located at 3851 Chapel Lane in Hoover, Alabama (“Property” or “Asset”). Going, Going, Gone! is a corporate lease operated by Dick’s Sporting Goods, and is operating on a NN lease with ±4.7 years of primary lease term remaining, four, five-year options and contractual $0.50/SF rent escalations every 5 years.
AL Broker of Record: Buff Teague - License No. 000083353-0
Investment highlights
- Corporate lease with Dick's Sporting Goods and minimal landlord responsibilities
- Ranks in the 91st percentile of most visited recreational and sporting goods retailers in the U.S.
- Adjacent to Riverchase Galleria, the #1 most visited regional mall in AL
- Just off the I-459/Montgomery Hwy interchange with 200,000 VPD
- Adjacent to the #1 most visited Costco in AL
- Strong 5-mile demographics with 13% population growth since 2010 and $134K AHHI
- Large 7.32 acre parcel in one of AL's most rapidly growing cities
Listing Contacts
Listed by JLL - Irvine (Orange County), California, JLL Chicago | Americas Headquarters
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$774,651.00
$64,554.25/mo
Valuation Metrics
0
DSCR
7.6%
Cap Rate
7.6%
ROI
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