Located at 8035 Vaughn Road, Montgomery, Alabama, this low rent, low price point Walmart Neighborhood Market is available for sale on Ground Lease. Situated next to the Alabama River on a coastal plain of the Gulf of Mexico, Montgomery is the capital of Alabama and a thriving city. It is the second-most populous city in Alabama, with an overall population of more than 250,000 residents. It is also a destination known for its culture and arts. This Walmart Neighborhood Market is a new construction (2016) and includes a 42,311 sq.ft building that sits on a massive 5.85-acre parcel of land. The current lease of 20 years has more than 17 years remaining on the base term. It includes a rent hike of 5% at every option, with sixteen options to extend for five years each. The subject property is located just off I-85, which is a prime location, and see a traffic count of more than 85,000 vehicles per day. The intersection of Vaughn Road and Taylor Road is also nearby, which sees a traffic count of more than 75,000 cars every day. Maxwell Air Force Base that has over 25,000 people, Hyundai’s $1.8 Billion Manufacturing Center with more than 3,100 employees, and Auburn University with a student count of more than 5,000 are also located in proximity to this property.
This investment property is suitable for a 1031 exchange.
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