Strickland Brothers

110 Field View Lane, Madison, AL 35756

$2,190,000

Cap Rate 6.65%

Views: 198 DOM: 621 Updated: 10.30.24 Posted: 04.10.23 Status: Active

Summary

Price $2,190,000	Built/Renov 2022	Tenant Strickland Brothers
Cap Rate 6.65%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 1,663	Lease Start 04-26-2023	#Units 85
Price/SF $1,316.90	Expiration 07-31-2038	Tenant Type Automotive
NOI $145,619	R. Term 13.7	Ownership Fee Simple
Rent/SF $87.56	Increases 10.0%/5/yrs	Pop 5Mi 80,398
Lot/AC 0.87	Options 4/5yrs/10%	AHHI 5Mi $114,544

Lease Highlights

New 2022 construction
Tenant signed a new 15-year lease with 4 (5-year) options to extend
Lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
Absolute NNN with zero landlord responsibilities
Corporate guarantee by Strickland Enterprises, LLC

Location Description

The subject property is ideally positioned near the intersection of County Line Road (21,150 VPD) and Huntsville Brownsferry Road. It is the same intersection as Village Shoppes of Madison, a shopping center anchored by a Publix that ranks top 3rd of all Publix stores in Huntsville, based on consumer traffic. The asset is complete with 3 service bays and is located adjacent to a car wash, for...

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Key Features

New construction
Shopping Ctr out-parcel
Highway location
Business growth area
Affluent AHHI $100K 5 Mi
Major MSA
Brand new lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

Strickland Brothers Wikipedia Madison, Alabama Zip Code 35756 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Strickland Brothers
Guarantor:Corporate
Company:Strickland's Enterprises, LLC
# Units:85
Stock:Private

About Tenant

Strickland Brothers is a fast-growing one-stop shop for oil changes and vehicle maintenance services. The company is well-known for its drive-thru 10-minute oil change, and offers a list of...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	7,471	55,783	122,798
2023 Total Population :	7,360	54,157	116,879
2023 Employed Civilian Pop :	3,654	27,358	60,141
2023 Total Businesses :	263	1,006	2,953
2023 Average Household Income :	$ 163,147	$ 144,854	$ 132,231
2023 Total Consumer Spending :	$ 347 M	$ 2487 M	$ 5267 M
2023 Median Age :	40	39	38
2023 Total Households :	2,553	20,318	46,715
2023 Pop Age 25+: Bachelor's Degree :	1,803	13,141	27,656
2023 Average Home Value :	$ 357,228	$ 367,634	$ 346,768

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Gooch Lane	Eastfield Dr	2021	4,136	0.15 mi
US Hwy 72	Balch Rd	2017	34,360	0.38 mi
Wall Triana Hwy	Chestnut Dr	2016	13,517	0.43 mi
Gooch Ln	Donsmere Pl	2016	2,798	0.51 mi
Wall Triana Highway	Quail Rd	2019	11,764	0.52 mi
Wall Triana Highway	Liberty Dr	2021	10,807	0.52 mi
Gooch Ln	Barn Swallow Rd	2017	4,110	0.55 mi
US Hwy 72	Wall Triana Hwy	2012	44,101	0.59 mi
Wall Triana Highway	Hwy 72	2019	16,825	0.63 mi
Balch Road	Gooch Ln	2021	7,431	0.75 mi

Listing Broker

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
17440 Views
65 Sold

Bill Asher

Hanley Investment Group

Contact

151 Listings
17880 Views
63 Sold

Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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