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33472132
33471482

2606 Cloverdale Road, Florence, AL 35633

OM
CA 01299093
Maher Commercial Realty
AZ
CA 01987372
Maher Commercial Realty
Listed by Maher Commercial Realty
$1,195,000
8 days on market
Updated 8 days ago

2606 Cloverdale Rd, Florence, AL 35633

Details
Property Type Retail
Sub Type Storefront
Square Footage 2,926
Net Rentable (SqFt) 2,926
Units 1
Cap Rate 7.84%
NOI $93,650
Occupancy 100%
Tenancy Single
Brand/Tenant Verizon Wireless
Lease Type NNN
Remaining Term 5
Price per SqFt $408
Class A
Year Built 2017
Lot Size (SqFt) 6,316
Zoning Commercial
Parking Spaces spaces
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Sale Condition N/A

Corporate Verizon Affiliate NNN Lease | Lease Guaranteed Through November 2031

Marketing description

Maher Commercial Realty presents a premier, stabilized commercial net-lease investment opportunity with a cap rate of 7.84% located at 2606 Cloverdale Rd (also recognized as 960 Cox Creek Pkwy) in Florence, Alabama. Constructed in 2017, this attractive 2,926 square foot single-story commercial building occupies a 6,316 square foot parcel strategically situated adjacent to the Cloverdale Village Shopping Center. The asset is fully leased to Cellular Sales of Birmingham, LLC—a major corporate Verizon Wireless affiliate—with an unconditional corporate guaranty from Cellular Sales of Knoxville, Inc. Delivering zero near-term capital drag, an extended lease term through 2031, and contractual rental growth, this property represents an ideal “hands-off” acquisition for a passive net-lease investor seeking immediate, predictable cash flow backed by an institutional-grade retail tenant.

This is a textbook “sleep-well-at-night” net-lease asset tailored for an investor seeking premium corporate credit and zero management responsibilities. Referenced in municipal records as a flagship retail asset bought on a strong cost basis, 2606 Cloverdale Rd removes all speculative leasing risk by offering five years of uninterrupted cash flow visibility under a newly minted amendment. Backed by an essential-use tenant with contractual rent increases and a completed capital shell, this property stands out as a fortress acquisition in the robust Alabama commercial retail market.

Cloverdale Rd represents a premier, institutional-grade commercial investment. The tenant’s long-term commitment through 2031, combined with an ironclad corporate guarantee and a clean operational history, minimizes any downside risk for an incoming buyer. For the passive investor looking to deploy capital into a newer-construction, internet-resistant retail asset with a highly predictable yield profile and strong real estate fundamentals, this offering delivers a flawless, turn-key investment path.

Investment highlights

Key points:

  • 2,926 SF single-tenant commercial building constructed in 2017 on a 6,316 SF parcel | 7.84% Cap Rate
  • Long-term lease extension executed from December 1, 2026, through November 30, 2031.
  • Stable, predictable income of $7,804.13 per month ($93,649.56 annualized).
  • Corporate lease signed by Cellular Sales of Birmingham, LLC with an explicit parent corporate guaranty.
  • Contractual remaining 5-year option pushes annual revenue to $103,248.60 starting in late 2031.
  • Highly insulated lease structure protecting investor margins from operational and tax overhead.

Listing Contacts

OM
CA 01299093
Maher Commercial Realty
AZ
CA 01987372
Maher Commercial Realty
Listed by Maher Commercial Realty

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$93,649.56
$7,804.13/mo

Valuation Metrics

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DSCR
7.84%
Cap Rate
7.84%
ROI

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