Zaxby's
5520 McFarland Boulevard
Northport, AL 35476
| Price: |
$1,995,181 |
| CAP Rate: |
8.30% |
| Building Size: |
3,495 SF |
| Approx Lot Size: |
0.89 Acre(s) |
| Year Built: |
2007 |
Net Lease Investment: |
Yes |
| Existing Debt: |
No |
| Property On Ground Lease: |
No |
| 1031 Exchanges Acceptable: |
Yes |
Property Features- Lease Type: Net, Net, Net Lease. No Landlord responsibilities.
- Lease Term: Twenty (20) years
- Lease Commencement: October, 2007
- Lease Renewal Options: Four (4) Five (5) year options
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For more information contact:
Keith Sturm
(612) 332-6600
Upland Real Estate Group, Inc.
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Property Description
Northport was incorporated as a municipality in Alabama in 1871 and; therefore, has a long history in Alabama. Northport has several attractions for visitors which include the annual Kentuck Festival and Kentuck Art Museum along with the annual Dickens Downtown Festival. Northport is located approximately 5 miles from Tuscaloosa, AL and 57 miles from Birmingham, AL. Northport is directly adjacent to the larger city of Tuscaloosa, Alabama, and many residents work in Tuscaloosa or other parts of Tuscaloosa County. Although the two cities do share a land boundary, much of their boundary (and historically all of the boundary) is the Black Warrior River. Some other developments currently taking place include: a new Federal building in downtown, construction at University Mall on McFarland Boulevard has begun, site preparations for the Midtown Project proceed, a major bank is putting the finishing touches on its new downtown headquarters, other bank main offices move toward completion across the Black Warrior River, a new Lowe’s Home Center on Highway 82 in Northport, a major condominium development on Veterans Memorial Parkway and soon schematics for two other large condominium developments downtown will jump off the drawing boards and take life.
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