5600 Spring Street
Grocer | 7.80% CAP | 40,362 SqFt
Marketing description
This single-tenant Piggly Wiggly investment offers long-term stability backed by a 26-year operating history and a triple-net lease with four years remaining and four additional five-year renewal options. The property sits on nine acres with 180 parking spaces and is priced below replacement cost at $95.14 per square foot. Located at a signalized intersection with strong daily traffic, the site benefits from excellent visibility and convenient access through multiple ingress and egress points. The surrounding area features powerful demand drivers, including Village Center, Ascension All Saints Hospital, and a strong mix of national retailers such as Kohl's, Festival Foods, Starbucks, and Walmart Neighborhood Market. With dense, affluent demographics and more than 69,000 residents within three miles, the property is well positioned for continued long-term performance.
Investment highlights
- Single-Tenant Piggly Wiggly | Triple-Net Lease with Below Market Rents
- 26-Year History at this Location, Demonstrating Long-Term Performance
- Nine-Acre Site with 180 Parking Spaces
- Located at the Signalized Intersection of Spring Street and S. Newman Road, Which Sees a Combined Traffic Volume of 26,600 Vehicles per Day
- Strong Community Drivers Including National Retailers, a Large Hospital, and Multiple Schools
- Average Household Income of $106,253 Within a Mile Radius
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