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ST. FRANCIS PLAZA

2501 GOVERNMENT BLVD. (US HWY #90), Mobile, AL 36606

$3,300,000

73,878 SF | Retail

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ST. FRANCIS PLAZA - Greer Foods & Dollar General

Retail Property For Sale

Price:
$3,300,000
Gross Leasable Area:
73,878 SF
Price/SF:
$44.67
Property Type:
Retail
Property Sub-type:
Community Center
Property Use Type:
Investment
Commission Split:
1.5%
Cap Rate:
10.20%
Occupancy:
90%
No. Stories:
1
Tenancy:
Multiple
Year Built:
1978
Lot Size:
5 AC
Listing ID
17395050
Last Updated
11 days ago

Find Out More...

Highlights

  • Greer Foods lease is guaranreed by Ahold USA Corp. Negotiating a renewal lease.
  • Dollar General entered into a new primary lease after CVS sublet expired. Renewed for 5 more years thru 2018.
  • Rent-A-Center has been a tenant for over 21 yrs. Will be entering into a new lease.
  • ABC Liquors is a state owned tenant and guarantees the lease. Will be expanding and enering into a new lease.
  • ABC's expansion will add $41,088 to the income with add'l rent and constr cost reimb.
  • Advance America has been a tenant for 13 yrs.

Description

An attractive, well maintained community center containing 73,878 sq.ft. Built in 1978 and expanded and refurbished in 2004. New roof over satellite stores in 2002; new roof over supermarket 2005.
Major tenants occupy 84% of center: Greer Foods (Ahold), Dollar General, Rent-A-Center and ABC State Liquor Store (to expand in 2015).

Situated approx 3 miles west of Downtown Mobile on Government Blvd. (US Hwy #90), the major east/west commercial thoroughfare between downtown Mobile and Interstate I-65, a 6 mile stretch. Immediate area is made up of established residential developments and small retail properties. This is the primary shopping center in the immediate area.

Financial Summary

Major Tenant Information

Debt & Equity Information

  • Actual
  • 2015
  • $474,427
  • $474,427
  • $136,555
  • $337,872

Map of 2501 GOVERNMENT BLVD. (US HWY #90), Mobile, AL 36606 (Mobile County)

Research for 2501 GOVERNMENT BLVD. (US HWY #90), Mobile, AL 36606 (Mobile County)

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Presented by Advance Realty Co.

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More from:

gerald l. berman

Specializing in commercial investment properties throughout the eastern half of the United States.

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License #New York and New Jersey

Asking Price Index Trends for Mobile, AL Retail For Sale

  May 15 vs. 3 mo.
prior
Y-O-Y
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State
$101+5.3%+8.1%

View Mobile Market Trends for other property types for sale or lease. Learn more about the chart info.

ST. FRANCIS PLAZA
  • Retail
  • $3,300,000
  • 73,878 SF