Department Store
Aarons
1131 US-280, Phenix City, AL 36867
Listing Price: $1,664,941
Investment Overview
Marcus and Millichap is pleased to present this single tenant triple net lease Aaron’s for sale. This property is situated amidst a major retail corridor in Phenix City, Alabama, and is being offered at an 8.50% cap rate. Aarons currently is on a lease until November 2026, with no additional options. They have been at the property since 2006 and have executed two five year options since their original 10-year lease. Aarons set to expire offers a new investor the opportunity to set a new rate/terms for a new tenant or continue to work with Aarons on a new lease agreement. This property is a quality asset situated on a major thoroughfare in Phenix City, making it highly desirable for any retail tenant to seamlessly transition into the property.
Broker of Record
Listing Price: $1,664,941
Investment Highlights
- NNN Lease Gives the Landlord Minimal Responsibility
- 8.50% Cap Rate is Above the Average Market Return
- Corporately Guaranteed Lease Ensures Investor Security
- Publicly Traded Company (NYSE: AAN)
Investment Overview
Marcus and Millichap is pleased to present this single tenant triple net lease Aaron’s for sale. This property is situated amidst a major retail corridor in Phenix City, Alabama, and is being offered at an 8.50% cap rate. Aarons currently is on a lease until November 2026, with no additional options. They have been at the property since 2006 and have executed two five year options since their original 10-year lease. Aarons set to expire offers a new investor the opportunity to set a new rate/terms for a new tenant or continue to work with Aarons on a new lease agreement. This property is a quality asset situated on a major thoroughfare in Phenix City, making it highly desirable for any retail tenant to seamlessly transition into the property.
Broker of Record
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Eddie Greenhalgh
Senior Vice President Investments
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