Home Depot Out Parcel - Conn's Home Furnishing - Seller Financing Available

2424 Eastern Boulevard, Montgomery, AL

$6,100,000

Price

7.05%

Cap Rate

$430,065

NOI

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Street
Map
Overview
Cap Rate
7.05%
NOI
$430,065
Cash-on-Cash
8.08%
Building Size
43,441 sqft
Lot Area
5.25 acres
Occupancy
100%
Lease Type
Double Net
Year Built
1997 / 2019
Price Per Sqft
$139.15
Tenancy
Single
Investment Strategy
Core
Lease Expire Year
03-31-2029
Highlights
  • Original 10 Year Lease from Conn’s Home Plus with 5.5 Years Remaining
  • Corporate Backed Lease Guaranteed by Conn's Home Plus (NASDAQ: CONN) , a Leading Retail Brand, Boasting a "Moody's B1" Credit Rating
  • NN (Double Net) Lease Structure with Landlord Responsible for Roof, Structure & CAM
  • Below Market Rent of $9.81 SF | Current Market Rent for Big Box is $13 to $14 SF
  • Strategically Located at a Busy Intersection, Shadow Anchored by Home Depot with High Traffic Counts Exceeding 47,000+ VPD
  • Healthy Population Densities in 1, 3, and 5 Mile
  • Co-Synergies in a Thriving Retail Corridor with Neighboring Tenants Including Home Depot, Harbor Freight, and Chick-fil-A
Documents
Title
Conn_s_-_Montgomery_AL_-_Encore_MP.pdf
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Location
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