1308 Gulf Shores Pky 12,400 SF 100% Leased Retail Building Gulf Shores, AL 36542 $4,250,000 ($342.74/SF) 7.53% Cap Rate

Marcus & Millichap is proud to present the opportunity to purchase a +/- 12,400 SF, multi-tenant retail center with a furnished 3,000 SF Condo located at 1308 Gulf Shores Pkwy in Gulf Shores, Alabama. The property is .80 acres with 194 feet of frontage along Gulf Shores Pkwy (Hwy 59), the primary corridor to Gulf Shores, offering exceptional visibility and high daily traffic counts (AADT 29,187).
The center is anchored by Sherwin-Williams which was a new construction build to suit in 2022. The lease is a modified net lease with over 7 years of base term remaining. The tenant has 8 (5) year options to renew. Matt's Ice Cream is a local staple which has been operating in Gulf Shores for over 12 years. Matt’s Ice Cream has over 9 years of lease term remaining. Taco Fiesta has been operating in the center since 2022 and is currently operating on a MTM lease which provides flexibility and upside potential. A new owner can negotiate a new lease with the current tenant, re-tenant the space, or redevelop it with the adjoining pad. Lastly, there is a 3,000 square foot well designed furnished condo that is about to be entered into a short-term rental program with rental projections exceeding $100,000.
Positioned one mile to Gulf Shores beaches, the property benefits from its proximity to the city's vibrant coastal strip, ensuring a steady flow of both local and visitor traffic. This property offers investors a rare opportunity to acquire a well-positioned asset, well below replacement cost, with high barriers to entry in one of Alabama's premier coastal markets.