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Views: 25 DOM: 22 Updated: 10.09.24 Posted: 10.09.24 Status: Active

Summary

Price $5,500,000
Built/Renov 1998/2016
Tenant Coral Industries
Cap Rate 7.85%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 67,659
Lease Start 01-01-2018
#Units 2
Price/SF $81.29
Expiration 12-31-2027
Tenant Type Industrial
NOI $432,000
R. Term 3.2
Ownership Fee Simple
Rent/SF $6.38
Increases 4.0%/1/yrs
Pop 5Mi 68,845
Lot/AC 6.70
Options 1/10yrs/4%
AHHI 5Mi $65,065

Lease Highlights

  • Originally a 10-year lease with approximately 3 years remaining | 1 (10-year) option to extend
  • Rare annual increases of $18,000/Year in base term and options, equates to more than 4% annual increases
  • Absolute NNN lease | Zero landlord responsibilities
  • Well-Below replacement cost at $81/SF, oversized 6.7-acre parcel

Location Description

Coral Industries is strategically located on 64th Avenue, adjacent to a 1,000-acre Airport Industrial Park that houses major employers. This area serves as a robust industrial employment hub, featuring 41,000 employees within a five-mile radius. The property is situated directly across from Tuscaloosa National Airport and benefits from easy access to Highway 82 (32,000 VPD), a major east-west...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Coral Industries
  • Guarantor:Corporate
  • Company:KPS Capital Partners
  • # Units:2
  • Stock:Private

About Tenant

Coral Industries is a privately held manufacturer specializing in architectural glass and custom shower enclosures, founded in 1976. The company has grown significantly, employing over 400 people...


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Listing Broker

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