This property is Off-Market

1432 20th Street Ensley
Birmingham, AL 35218 ·

12,035 SF · Retail For Sale

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Family Dollar

Price N/A Cap Rate 8.25%
Building Size 12,035 SF Occupancy 100%
Property Type Retail Tenancy Single
Property Sub-type Free Standing Bldg Year Built 2007
Property Use Type Net Lease Investment with 9 years left on lease Lot Size 0.95 AC
Listing ID: 15932502 Date Created: 10/08/2008 Last Updated: 01/07/2009

Description

We are proud to present a newly renovated, 12,035+/- square foot Family Dollar located at the signalized intersection of Avenue I and 20th Street in Birmingham, Alabama. Family Dollar is ideally situated within a heavily populated area of Birmingham with over 147,000 people within 5 miles of the property. The property is easily accessible via 20th Street Ensley which had an ADT of 20,400 in 2004 and is approximately only 1/2 mile from Interstate-20, which had an ADT of over 95,000 in 2004.

The property is located approximately 1/2 mile away from the Tuxedo Court project; a $50 million revitalization project underway in the Ensley area of Birmingham. The project will include 306 residential homes and apartments, street improvements, and building new daycare and community centers. The estimated completion date for Tuxedo Court is October 2009.

Family Dollar is signed to a 10-year NN lease that began in October 2007. The Landlord friendly lease requires Family Dollar to be responsible for common area maintenance of the property, reimbursement for property taxes and property insurance expenses, and rental increases of 10% in each option period.

The City of Birmingham, Alabama, is a municipal corporation under the laws of the State of Alabama. Birmingham is the largest city in the state with a population currently estimated at 242,820, and a metro population of 1,079,089.

Nestled at the foothills of the Appalachian Mountains at the cross-section of two major railroads, the city was once the primary industrial center of the southern United States. At the height of the nation's manufacturing age, the city grew so fast in population, it was called the "Magic City." Today, Birmingham has transformed itself into a medical research, banking and service-based economy, making it one of the nation's most livable cities with a vibrant downtown, a burgeoning loft community, a world-class culinary scene and more green space per capita than any other city in the nation!

Birmingham also boasts 99 historic neighborhoods and is often referred to as the cradle of the American Civil Rights Movement. The average (high) temperature in the city is 65°; the average low is 51°. The city is centrally located in the southeast and easily accessible to major hubs in the region.

Ranks 13 among the largest southeastern metro's.

Highlights

  • New 10-Year Lease with Family Dollar
  • Strong Store Sales - Low Rent to Sales Ratio
  • Approximately 1/2 Mile from Tuxedo Court - $50 Million Redevelopment Project
  • Rare Metro Birmingham Location - Redevelopment Area
  • Located at Signalized Intersection less than 1/2 Mile from Interstate 20
  • All Brick Construction with New Roof - Completely Renovated in 2007

Research

1432 20th Street Ensley, Birmingham, AL 35218 (Jefferson County)

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