This Retail Property is Off-Market.

2501 Highway 280
Alexander City, AL 35010 ·

7,800 SF · Retail For Sale

N/A

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Shoe Dept./Sally Beauty/H&R Block

Price N/A Cap Rate 9.24%
Gross Leasable Area 7,800 SF Occupancy 100%
Property Type Retail Tenancy Multiple
Property Sub-type Strip Center Year Built 2000
Property Use Type Net Lease Investment with 4 years left on lease Lot Size 1.33 AC
Listing ID: 17885504 Date Created: 10/22/2012 Last Updated: 04/11/2013

Description

The subject property is a three-tenant retail strip center located as an outparcel to a Walmart Supercenter in Alexander City, AL. The property benefits from frontage and visibility on Highway 280 which boasted an average daily traffic count of 24,350 in 2002. Wendy's and Arby's are also located as outparcels to the Walmart.

The property is 100 percent leased to three nationally branded tenants; Shoe Department, Sally Beauty, and H&R Block. All three (3) leases are gross leases offering an investor future upside in converting new leases to NNN. Shoe Department just agreed to a 5-year extension making their new lease expiration date May 31, 2018.

Alexander City, with a population of over 15,000 is located on the shores of beautiful Lake Martin with 44,000 acres of clean sparkling water and 750 miles of shoreline dotted with cabins, condominiums, restaurants, marinas and Wind Creek State Park.

The city continues to be aggressive in recruiting industry and new businesses. The Lake Martin Economic Development Alliance formed in 1998 has a full time staff, actively pursuing new industry. The Alliance is a regional partnership between Coosa and Tallapoosa Counties, and Alexander City and Dadeville, and in conjunction with the Lake Martin Area Industrial Development Authority has developed two industrial parks in which several new diverse industries are located. U.S. 280, our primary corridor, provides quick access to Birmingham, Montgomery, and Atlanta, GA. ( www.alexandercityonline.com )

Highlights

  • New 5-Year Lease with Shoe Dept. - Expires 5/31/18
  • 100% Leased - Outparcel to Walmart
  • All 3 Tenants are Nationally Recognized Brands
  • 3,200 SF of the 7,800 SF was Constructed in 2008
  • Strong Visibility to Highway 280, ADT of 24,350 in 2002
  • Future Upside in Converting to NNN Leases

Research

2501 Highway 280, Alexander City, AL 35010 (Tallapoosa County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

Alexander City Market Trends - Asking price index trends, sale price trends, asking rent trends

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