Whataburger NNN — Leeds, AL

Updated November 10, 2026

$1,848,000 · 5.50% CAP · 8.7 YRS

Whataburger ground rent at 1824 Ashville Road in Leeds is $101,640 a year. The ask is $1,848,000, a 5.50% cap. The lease is absolute net. A remodel is dated 2020; the original construction year is not in the file. About 8.7 years run to July 2035, then three five-year options. Rent goes up 10% on August 1, 2030, and at the start of each option. Whataburger Restaurants LLC is the corporate signatory, and the file records no refusal right. The restaurant covers about 3,154 square feet on 1.13 acres. Leeds shares its current tax parcel with the Chick-fil-A at 1808 Ashville Road, and that parcel is being divided, so the legal description has to be read. No Whataburger photo is in our image set, so the picture is a map placeholder. Of the two Whataburger listings, this 8.7-year term is the shorter one; Villa Rica, Georgia still has 14.7 years. Listed in our November 10, 2026 deal list.

Lease Abstract

Price

$1,848,000

Cap rate

5.50% CAP

NOI

$101,640

Term remaining

8.7 YRS

Lease type

Absolute NNN Ground Lease

Increases

10% on August 1, 2030 and at each option

Options

3 x 5-year

Guarantee

Corporate

Building

3,154 SF

Lot

1.13 AC

Renovated

2020

Listing information is deemed reliable but not guaranteed — pricing, cap rates, and lease terms are subject to change, prior sale, or withdrawal without notice.

Property Details

3,154 SF building, renovated 2020, 1.13 acres of land. Ground lease priced at $1,635,398 per acre. Rent increases: 10% on August 1, 2030 and at each option. Renewal options: 3 x 5-year. Corporate guarantee. Primary term ends around 2035 (8.7 yrs left at listing, Nov 2026).

Location

Leeds, Alabama — 1824 Ashville Road, Leeds, AL 35094. Full address and offering memorandum released on request — see our Whataburger tenant guide and the Alabama market page for the underwriting context.