Property Listing No Longer Available for Sale

17870 Baldwin Farms Pl, Robertsdale, AL

Retail for Sale - $875,000 - 16,625 Sq. Ft. on 49299.44 acres


Property Info

CIMLS#698108
Location
  17870 Baldwin Farms Pl
  Robertsdale AL 36567
UpdatedMarch 7th, 2014
TypeRetail
Price$875,000
Building16,625 Sq. Ft.
Land49299.44 acres

Property Description

This net-leased store is leased by the Fred's corporation directly. It is located at a busy, lighted intersection of US 90 and Alabama SR 59, just five miles south of I-10 in Robertsdale, Alabama. Hwy 59 is the direct route from I-10 to Gulf Shores, the destination resort for the deep south.

The metal & brick building and asphalt parking lot are in excellent repair, just 10 years old.

Fred's has occupied this since 2003, when the site was built to-suit for them. Their management characterize store sales as very good and they have renewed the lease for a second time, now expiring 9/20/2018. Current rent is $6866.67 per month. Tenant pays expense overages on Insurance (above ) and taxes (above ) and is responsible for all other expenses directly except that the Landlord maintains the building exterior and parking lot.

An additional 1.4 acres north of and contiguous to the parking lot is available for sale. It also fronts the highway and the lighted intersection.

Contact agents for more detail.

Location Description:

Robertsdale is the hub of central Baldwin County. Traffic from Mobile, Pensacola and tourism traffic to Gulf Shores flows through it. Commerce is a mixture of agriculture, tourism, manufacturing, education and healthcare.

See agents for full demographics of this area, surrounded by smaller towns of Loxley, Summerdale, Silver Hill and Elsanor.

Highlights:

>> Corporate lease by Fred's Stores of Tennessee

>> High-performing location has just renewed their lease

>> High-traffic location fronted by US Highway and Parkway to Gulf beaches

>> Additional acreage adjacent to the site for additional development

* Email for additional photos


Financials

Cash to buyer

Sales Info:

>> Cap rate: 8.75%

>> Commision split: 3.0%

>> NOI: $82460