Retail

Starbucks & Sleep Outfitters - Hazel Green, AL

14561 Highway 231-431 N Hazel Green, Alabama United States 35750
Asking Price
Area Size
NOI Net Operating Income
Cap Rate

Documents

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Key facts

Year Built 2022
Building Area Net
Occupancy 100.0 %

Property description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire the fee-simple interest in the multi-tenant Starbucks and Sleep Outfitters net-lease Property located at 14561 Highway 231-431 North, in Hazel Green, AL (the “Property” or “Asset”). The newly constructed Asset is 100% leased to Starbucks Corporation & Sleep Outfitter's USA, LLC (the “Tenants). The Tenants recently executed brand-new 10 & 7-year leases, respectively (8.4 WALT). 


Hazel Green is less than 15-miles north of Huntsville, AL. The Huntsville MSA recorded 17.0% population growth over the last decade, well above the national average of 10.0%.The Asset is situated on a Walmart outparcel along Highway 234-431 S (22,000+ VPD), a main retail thoroughfare with numerous surrounding national retailers including Walgreens, Dollar General, Dollar Tree, Zaxby’s, Arby’s, Taco Bell, and Burger King.


The site is directly adjacent to a 600+ residential home development & a planned 300-unit multifamily development. There are 7 additional outparcels situated directly to the south of the Property (4 outparcels currently under construction).

Investment highlights

  • Newly constructed Drive-Thru Starbucks + Sleep Outfitters
  • Situated on a highly trafficked Walmart out-parcel.
  • Walmart recorded 1.8 million visitors annually - Top 75% location within a 30-mile radius.
  • Significant new development directly adjacent to the site.
  • ± 900 residential / multifamily units  & 7 additional outparcels under development.
  • 14-miles north of Huntsville, AL.
  • Investment Grade Tenancy (Starbucks S&P: BBB+).
  • Sleep Outfitters operates 102 stores across the southeast.
  • Absolute triple-net lease's with attractive rent bumps & 8.4 years of WALT.


BROKER OF RECORD: Elizabeth Walker Teague

Last Updated Date: 11 Jul 2022

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Last Updated Date: 11 Jul 2022

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