14
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$1,149,000
Est. payment /mo
2,926 SqFt
Price Dropped by $46K
2606 Cloverdale Rd Florence, AL 35633
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,926 sqft
Price per Sqft $392
MLS Listing ID 26845343
Year Built 2017
Lot Size 6,316 Sqft
Property Description
We are pleased to present a premier, stabilized commercial net-lease investment opportunity with a cap rate of 8.15% located at 2606 Cloverdale Rd (also recognized as 960 Cox Creek Pkwy) in Florence, Alabama. Constructed in 2017, this attractive 2,926 square foot single-story commercial building occupies a 6,316 square foot parcel strategically situated adjacent to the Cloverdale Village Shopping Center. The asset is fully leased to Cellular Sales of Birmingham, LLC a major corporate Verizon Wireless affiliate with an unconditional corporate guaranty from Cellular Sales of Knoxville, Inc. Delivering zero near-term capital drag, an extended lease term through 2031, and contractual rental growth, this property represents an ideal "hands-off" acquisition for a passive net-lease investor seeking immediate, predictable cash flow backed by an institutional-grade retail tenant. This is a textbook "sleep-well-at-night" net-lease asset tailored for an investor seeking premium corporate credit and zero management responsibilities. Referenced in municipal records as a flagship retail asset bought on a strong cost basis, 2606 Cloverdale Rd removes all speculative leasing risk by offering five years of uninterrupted cash flow visibility under a newly minted amendment. Backed by an essential-use tenant with contractual rent increases and a completed capital shell, this property stands out as a fortress acquisition in the robust Alabama commercial retail market. Cloverdale Rd represents a premier, institutional-grade commercial investment. The tenant's long-term commitment through 2031, combined with an ironclad corporate guarantee and a clean operational history, minimizes any downside risk for an incoming buyer. For the passive investor looking to deploy capital into a newer-construction, internet-resistant retail asset with a highly predictable yield profile and strong real estate fundamentals, this offering delivers a flawless, turn-key investment path.
Location
State AL
County Other
Area Out Of Area (Outside Ca)
Zoning Commercial
Building
Story 1
Others
Special Listing Condition Standard
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Listed by Maher Commercial Realty