May 31, 2023 – Jason Woods of Horvath & Tremblay has successfully completed the sale of Hwy 55 in Fort Payne, Alabama. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $2,900,000.
Hwy 55 is located at 1503 Glenn Boulevard SW in Fort Payne, Alabama. The new construction stand-alone building consists of 2,949 square feet and sits on 0.99-acres of land. Hwy 55 has 19+ years remaining on their Absolute NNN Lease with two (2), 5-Year renewal options. The lease features attractive 10% rent increases every five years throughout both the current term and at the start of each of the renewal option periods. Hwy 55 is strategically positioned at the signalized intersection of Airport Road W and Glenn Boulevard SW, the area’s primary commercial corridor, and sees more than 32,000 vehicles per day. The Property is 0.3-miles from Interstate 59 and is surrounded by national retailers driving traffic to the area. Fort Payne is located in northeast Alabama, approximately 80 miles from Huntsville.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.