Smoothie King (Ground Lease) (Birmingham MSA)

420 Green Springs Highway
Homewood, AL 35209

Property: Investment Sales

Square Footage: 1,500

Acreage: 0.69

Price: 1,545,500

Cap Rate: 5.50%

Description:

  • New construction just off I-65 adjacent to ALDI and across from Publix
  • 15 year triple net ground lease with three 5 year renewal options
  • 10% rent bumps every 5 years including each renewal option
  • International brand with a 45 year history and 900 units worldwide
  • Fastest growing chain in its category with 147 new franchisee agreements in 2017 and plans to open 150 new locations in 2018
  • Ranked #1 by Entrepreneur magazine in the juice bar category for the 26th year and #35 overall on the 2017 Franchise 500 list
  • 5 miles south of downtown Birmingham on a dense commercial corridor
  • Traffic counts over 20,200 cars per day in front of Subject Property
  • Population of 10,800 and AHHI of $65,200 within a 1 mile radius
  • Nearby attractions include Birmingham Zoo, Red Mountain Park, Vestavia Country Club, Brookwood Baptist Medical Center and Samford University