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The Market Shoppes | Decatur, AL 2407 6th Ave SE 81,045 SF 100% Leased Retail Building Decatur, AL 35601 $9,495,000 ($117.16/SF) 6.85% Cap Rate
Investment Highlights
- 100% Occupied Stabilized Retail Center with Significant Long-Term Upside; Low Rents; 2012 Construction
- Kohl’s (NYSE: KSS) has a 13+ year operating history and a health ratio of under 4%
- Three separate parcels/APNs for future arbitrage in selling multi-tenant properties separately and holding the Kohl’s at a very low basis
- The market rent for this space is $12 to $14 PSF based on recent junior box comps at the intersection
- Kohl’s self manages and maintains their parcel making the property more passive than a traditional center of this size
- Nearly all of the multi-tenant pad tenants are paying "right-sized," replaceable rents, supported by an ideal tenant mix (66% national tenants)
Executive Summary
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- -
- Triple Net
- Jan 2034
Kohl's began in Wisconsin with a department store that opened in Brookfield in 1962, growing out of the broader Kohl family retail business in the Milwaukee area. The company operates as an omnichannel retailer with a national store network, an online store, and a mobile app that support shopping across stores and digital channels. Kohl's merchandise mix spans apparel, footwear, accessories, home essentials, beauty, and family-focused categories, including branded offerings and shop-in-shop experiences such as Sephora at Kohl's and Babies"R"Us at Kohl's. Kohl's also maintains a long-running community focus through Kohl's Cares and related philanthropy programs that support families and local organizations.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | - | Triple Net | Jan 2034 |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Previously an ULTA Beauty available.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 4,000 SF | Retail | End Cap | Now |
1st Floor
| Size |
| 4,000 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
1st Floor
| Size | 4,000 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
Previously an ULTA Beauty available.
Nearby Major Retailers
Property Taxes
| Parcel Number | 03-09-32-3-001-014.000 | Improvements Assessment | $535,640 |
| Land Assessment | $337,800 | Total Assessment | $873,440 |
Property Taxes
