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32947434
33543947

2801 Highway 78 East, Jasper, AL 35501 For Sale

HW
WA WA 110547, GA 440846
Marcus & Millichap - Seattle
Listed by Marcus & Millichap - Seattle
$3,167,000
62 days on market
Updated 5 days ago

Wendy's ( 11 Yrs Remain - 6.75% Cap )

Details
APN 1701111102012002
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 3,500
Net Rentable (SqFt) 3,500
Units 1
Cap Rate 6.28%
NOI $198,875
Occupancy 100%
Tenancy Single
Brand/Tenant Wendy's
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 03/02/2037
Remaining Term 10.6
Rent Bumps Yes
Lease Options Four 5-Year
Price per SqFt $905
Year Built 2016
Stories 1
Acreage 0.900
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 03/03/2017
Ground Lease No

Top 91% Store in AL

Marketing description

Marcus & Millichap is the exclusive listing agent for the Wendy’s located in Jasper, Alabama. The property sits along Highway 78 with excellent frontage and visibility while experiencing over 25,000 vehicles per day passing by that portion of the highway. The 3,500 square foot building was constructed in 2016 and sits on a 0.90 acre parcel of land. The lease commenced in 2017 and expires in March of 2037 meaning there are nearly 11 years remaining of lease term. The lease is Absolute NNN and there are zero landlord maintenance or expense responsibilities. The lease includes 7.50% rent bumps every 5 years with the next rent bump set to occur in March of 2027. The lease does not require sales reporting but per Placer.ai this Wendy’s ranks in the 84th percentile nationally (862nd / 5,621 restaurants) and the 92nd percentile in Alabama (8th / 89 restaurants) in terms of customer traffic to the property. The subject property is surrounded by national retailers including Home Depot, Walmart, Food City, Starbucks, Whataburger, among many others which all drive customer traffic to the dense retail corridor.

Jasper, Alabama is the county seat of Walker County and serves as the primary commercial and service hub for surrounding rural communities in northwest Alabama. Located approximately 40 miles northwest of Birmingham, the city benefits from regional connectivity via Interstate 22 and U.S. Highway 78, allowing it to capture retail demand from a broader trade area

Investment highlights

  • Absolute NNN Wendy’s with Nearly 11 Years Remaining (7.50% Rent Bump in 2027)
  • High Volume Wendy’s with Excellent Visibility Along Busy Highway 78 – Located Blocks from Walmart and Home Depot
  • Placer.ai Ranks the Site in the 84th percentile nationally (862nd / 5,621 restaurants) and the 92nd percentile in Alabama (8th / 89 restaurants)
  • Strong Multi-Brand and Multi-Unit Franchisee – 53 Restaurants in Four States
  • 2016 Construction – 40 Minutes from Downtown Birmingham, AL

Listing Contacts

HW
WA WA 110547, GA 440846
Marcus & Millichap - Seattle
Listed by Marcus & Millichap - Seattle

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$198,875.00
$16,572.92/mo

Valuation Metrics

0
DSCR
6.28%
Cap Rate
6.28%
ROI

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Additional Information

Name
Eddie Greenhalgh
License
000088298-0
Title
Broker of Record
Brokerage Address
800 Shades Creek Parkway, Ste. 815
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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