Property Description
Single-tenant, free-standing Huddle House on a ±0.73-acre parcel along Saraland Boulevard (US-43), the primary retail corridor of Saraland, Alabama, a growing northern suburb of Mobile. The asset is secured by a NNN lease to Huddle House, Inc., the brand's corporate franchisor, which serves as both tenant and guarantor. The tenant is responsible for roof and structure, so ownership is passive with no landlord obligations. Investors benefit from over 14 years of remaining primary term. The first 2.00% escalation has already taken effect, and bumps compound annually through the base term and all four 5-year options. The site sits just off a signalized intersection with frontage on US-43 (±17,350 VPD), about 1.5 miles east of I-65 (±54,070 VPD). The 4-mile population is 25,664.
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Property Details
Property Type
Year Built
Year Renovated
Current Cap-Rate
6.50%
Pro Forma Cap-Rate
Property Highlights
Lease: 14.2 Years Remaining on a 20-Year NNN Lease with 2.00% Annual Rent Increases and Four 5-Year Renewal Options
Rent Escalation: Tenant has begun first escalation; currently paying $90,093
Corporate Guarantee: Lease Signed and Guaranteed by Huddle House, Inc., the Franchisor of the Brand, a Subsidiary of Ascent Hospitality Management
Traffic Counts | Access: Frontage on Saraland Blvd (US-43) with ±17,350 Vehicles Per Day, Off a Signalized Corner, ±1.5 Mile from I-65 (±54,070 VPD)
2023 Demographics (4-MI Radius): Total Population: 25,664 | Total Households: 9,939 | Median Household Income: $73,121
Proximal Points of Interest: City of Saraland Municipal Complex (City Hall, Municipal Court & Event Center); Walmart Supercenter (200K+ visits/month, 3rd-most-visited Walmart in AL); Piggly Wiggly; Rural King; Walgreens, Dollar General, Dollar Tree, O'Reilly, Wells Fargo, Truist, Regions; Infirmary Health Saraland Campus (24/7 ER); Saraland City Schools (~3,500 students; ranked 5th of 135 AL districts); University of Mobile (2,092 students, ±4 MI)