A retail property located at 720 Gilbert Ferry Road Southeast in Gadsden, AL was sold for $3,000,000. The asset encompasses 2,500 square feet and achieved a price per square foot of $1,200. This transaction marks the state's first single-tenant Starbucks deal in 2025, with a cap rate of 6.29%. The property features a NN+ lease, providing 10 years of passive income along with minimal landlord responsibilities.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,000,000
• Sale Date: 05/19/2025
• Address: 720 Gilbert Ferry Road Southeast
• Market: Gadsden, AL
• Square Footage: 2,500
• Price per Square Foot: $1,200
• Cap Rate: 6.29%
• Lease Type: NN+
• Lease Duration: 10 years
• Brokers: Austin Blodgett & Jonathan Schiffer - RealSource Group

The transaction involved brokers Austin Blodgett and Jonathan Schiffer, representing RealSource Group. Their participation played a crucial role in the execution of this significant retail deal in the Gadsden market.