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Ashley Furniture Home Store

3321 Lowery Parkway, Fultondale, AL 35068

$6,857,000

40,000 SF | Retail

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Retail Property For Sale

Price:
$6,857,000
Building Size:
40,000 SF
Price/SF:
$171.43
Property Type:
Retail
Property Sub-type:
Free Standing Bldg
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
8.75%
Occupancy:
100%
Tenancy:
Single
Year Built:
2007
Lot Size:
4 AC
Listing ID
18444409
Last Updated
3 days ago

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Highlights

  • Highly Visible From Interstate 65 Where Traffic Counts Average Over 62,000 Vehicles Daily
  • Located in Dense Retail Corridor
  • Birmingham MSA

Description

This Ashley Furniture is being offered for sale at $6,857,000 at a 8.75% Cap Rate with NNN lease. There are 11 years remaining on the primary term with substantial increases and three 5-year options. The Ashley Furniture is also personally guaranteed by an experienced four unit operator.
This Ashley Furniture HomeStore is located on Lowery Parkway, at the southern end of the Colonial Promenade shopping center, which is anchored by Target, JCPenney, and Best Buy. This development, which opened the first portion in 2007, is strategically located just off of Interstate-65, south of Walker Chapel Road, in Fultondale, Alabama. Colonial Promenade, a 355,000 SF open-air center, also features Books-A-Million, Maurices, rue21, Ross Dress-For-Less, Verizon, Five Guys, GNC, Kay Jewelers, Starbucks, Claire' s, and more. Many restaurants surround the complex, including Chili' s, Five Guys, Chick-fil-A, Arby' s, McDonald' s, Casa Fiesta, and Full Moon BBQ. Other retailers in the area are Lowe' s, Winn Dixie, CVS Pharmacy, Rite Aid, O' Reilly Auto Parts, Outback Steakhouse, Fairfield Inn, Shell, Dollar General, and Applebee' s.

Please note this property is currently on a Ground Lease owned by a third party. The Leasehold owner has the one time right to purchase the land for $2,117,000. The purchase price above includes the income from the Leasehold and the Ground Lease. The Leasehold may be purchased separately.

This Ashley Furniture HomeStore is located on Lowery Parkway, at the southern end of the Colonial Promenade shopping center, which is anchored by Target, JCPenney, and Best Buy. This development, which opened the first portion in 2007, is strategically located just off of Interstate-65, south of Walker Chapel Road, in Fultondale, Alabama. Colonial Promenade, a 355,000 SF open-air center, also features Books-A-Million, Maurices, rue21, Ross Dress-For-Less, Verizon, Five Guys, GNC, Kay Jewelers, Starbucks, Claire' s, and more. Many restaurants surround the complex, including Chili' s, Five Guys, Chick-fil-A, Arby' s, McDonald' s, Casa Fiesta, and Full Moon BBQ. Other retailers in the area are Lowe' s, Winn Dixie, CVS Pharmacy, Rite Aid, O' Reilly Auto Parts, Outback Steakhouse, and Fairfield Inn.

Map of 3321 Lowery Parkway, Fultondale, AL 35068 (Jefferson County)

Research for 3321 Lowery Parkway, Fultondale, AL 35068 (Jefferson County)

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Asking Price Index Trends for Fultondale, AL Retail For Sale

  Sep 14 vs. 3 mo.
prior
Y-O-Y
-
State
$92-1.7%-0.8%

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

Ashley Furniture Home Store
  • Retail
  • $6,857,000
  • 40,000 SF