Coral Industries
Single-Tenant Offerings
Coral Industries
600 64th Ave.
Northport (Tuscaloosa), AL
- Price:
- $5,500,000
- Cap Rate:
- 7.85%
- NOI:
- $432,000
- Rentable SQFT:
- 67,659 SF
- Year Built:
- 1998/2016
- Lot Size:
- 6.7 +/- Acres
- Lease Type:
- Absolute NNN
- Status:
- Available
Investment Highlights
- Originally a 10-Year Lease with Approximately 3 Years Remaining
- Rare Annual Increases of $18,000/Year in Base Term and Options, Equates to More Than 4% Annual Increases
- Absolute NNN Lease with No Landlord Responsibilities
- Coral Industries is the Largest Independent Manufacturer of Bath Enclosures
- Owned by KPS Capital Partners, Approximately $21.4 Billion of Assets Under Management
- $5.2 Million Northport Facility is Home to Coral’s Architectural Division
- Strategic Location Near Coral’s 325,000 SF Manufacturing Facility and Headquarters
- Well-Below Replacement Cost at $81/SF, Oversized 6.7-Acre Parcel
- Over 70,000 Residents in Rapidly Growing Trade Area, 33% Growth Over the Last Decade
- Adjacent to 1,000-Acre Airport Industrial Park, Home to Major Employers
- Strong Industrial Employment Hub with 41,000 Employees within 5-Miles
- Across from Tuscaloosa National Airport, Undergoing $16.2 Million Upgrade/Expansion
- Easy Access to Hwy-82, a Major East/West Artery with 32,000 Cars/Day
- Close Proximity to the University of Alabama with 39,600 Students
- 1-Mile to $350 Million University Beach Luxury Mixed-Use Development and Adventure Park
- 1.5 Miles to $27 Million River Run Park Sports Complex Development, Projected to Attract 440,000 Visitors/Year
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