Matthews Logo

Navigation Menu

3110 Kendall Dr, Florence, AL, 35630

US LBM
$8,325,000

Key Information

Cap Rate
7.5%
$ per SF
$52
Tot. SF
694,782
Year Built
1985 & 2007/2021
Type
Industrial
Leasable Area
161,500

Highlights

  • Strong Corporate Tenant – Nationally Recognized Industry Leader
    The Lease Guarantor, US LBM Holdings, LLC, is one of the nation’s largest building materials distributors, serving professional builders, remodelers, and contractors. This facility is US LBM’s only location in Alabama and operates as the company’s primary door manufacturing hub for the Southeast, with distribution spanning nationwide. US LBM generated $7.8 billion in revenue in 2024, underscoring the financial strength and long-term stability of the tenancy.
  • Long-Term Industrial NNN Lease / Predictable Income
    The tenant recently exercised its renewal option, leaving five years remaining on the base term with two additional five-year options. The Industrial NNN lease includes 10% rent escalations every five years, providing built-in inflation protection. Current rent of $3.87/ SF represents an attractive, market-aligned basis, offering investors a passive, reliable income stream.
  • Highly Functional Manufacturing Facility with Outdoor Storage
    The ±161,500 SF facility sits on ±15.95 acres with 23.24% building coverage, allowing ample outdoor storage and operational flexibility. The property features seven dock-high doors and newly constructed office space being built out by the tenant. This mission-critical site supports high-throughput manufacturing and distribution operations across the Southeast.
  • Attractive Basis in Established Industrial Corridor
    Offered at $52/SF on the building, the property presents a compelling entry point below replacement cost. Located in Florence, AL near Huntsville, the site is in a dense industrial corridor with major regional operators like Ryder, Coca-Cola, Dal-Tile, and Scholastic. Limited modern supply and strong tenant demand position the property as a stable, long-term investment with upside potential.

Photos

Location

Agents

Broker of Record

Hutt Cooke

License # 000110253 - 0 (AL)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203