August 10, 2021 – Steve Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of ABC Select Spirits in Montgomery, Alabama. Horvath & Tremblay exclusively represented the seller in this transaction at a sale price of $730,000.
ABC Select Spirits is located at 303 W Fairview Avenue in Montgomery, Alabama. The stand-alone building was constructed in 1970 and remodeled in 2018 and contains a 4,000 square foot building on a 0.27-acre parcel of land. ABC Select Spirits is owned and operated by the State of Alabama, they selected this location in 2018 and have 12 years remaining on their lease with an additional seven (7) 5-Year Renewal Options. This lease features 5% rent increases every five years throughout the primary term of the lease. The Property is situated along W Fairfield Avenue, the area’s primary commercial corridor. ABC Select Spirits enjoys outstanding visibility and frontage at the intersection of W Fairfield Avenue and Elder Street and is adjacent to the signalized intersection of W Fairfield Avenue and Edgar D Nixon Avenue. The location is easily accessible and conveniently located to draw from the surrounding area and shoppers and commuters accessing nearby Interstate 65. ABC Select Spirits is 1.5-miles from Alabama State University which is home to more than 5,400 students. The Property is also just 3.5-miles from the Maxwell Air Force Base.
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.