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Mobile Festival Centre 3725 Airport Blvd 385,775 SF 83% Leased Retail Building Mobile, AL 36608 For Sale
Executive Summary
Investment Highlights:
Value-Add Investment Opportunity: Stability of 6.4 YR WALT with Upside
¦ 167,334 SF upside leasing opportunity, 56.6% leased with strong existing income.
¦ 154% NOI Upside: Well-capitalized new owner can convert demand for vacancy to occupancy.
Impressive Anchor Draw
¦ Academy Sports, America’s Thrift Store, Guitar Center, and Salons by JC.
¦ Shadow-anchored by the Home Depot.
Reposition or Redevelop Land Play Opportunity
Large and versatile 44.42-acre site, with strategic large pockets of vacancy, allows
a covered land play redevelopment opportunity, and/or sell off portion of center and
spike returns by lowering basis. Well-capitalized investor has ability to command
immediate leasing upside once out of Receivership.
Core of Destination Retail Market Location
Ideally situated at a high-profile location within the center of Mobile’s established
retail market validated by Costco, Walmart & Home Depot.
Exceptional 6.4 Year WALT
¦ Academy Sports + Outdoors (84,464 SF) - Extended for 5 years.
¦ Accel Academy - 9.9 years remaining on Lease.
Convenient Expressway Access for Trade Area
¦ High-profile I-65 / Airport Boulevard interchange provides access to an expanded trade area, drawing customers from across Mobile.
¦ West Mobile is a renowned destination location for shopping in the greater MSA.
Demographics of Affluence - Expanded Trade Area
¦ 3 Mile Radius AHHI: $81,554 / 5 Miles: $76,675
¦ 3 Mile Radius: Population 68,150 / 5 Miles: 165,720
Strong Placer.ai Metrics & Local Retail Market
¦ 1.9 million visits per year. Ranks #2 of 6 Community Centers in a 5-mile radius.
¦ West Mobile Submarket: 91% Occupancy.
Covered Land Play
Redevelopment Optionality Within 44.42 Acres
¦ $1.45 Million of existing durable NOI, unlock further
Property Facts
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Located near the highly trafficked intersection of I-65 and Airport Boulevard with visibility from 49,000+ vehicles daily
Located near the highly trafficked intersection of I-65 and Airport Boulevard with visibility from 49,000+ vehicles daily
Located near the highly trafficked intersection of I-65 and Airport Boulevard with visibility from 49,000+ vehicles daily
Located near the highly trafficked intersection of I-65 and Airport Boulevard with visibility from 49,000+ vehicles daily
Former Fitness
| Space | Size | Space Use | Position | Available |
| 175-177 | 3,967-31,874 SF | Retail | In-Line | Now |
| 184A | 14,000 SF | Retail | In-Line | Now |
| 184C | 10,940 SF | Office/Retail | In-Line | Now |
| 195-199 | 1,278-8,032 SF | Retail | In-Line | Now |
| 207 | 1,713 SF | Retail | In-Line | Now |
175-177
| Size |
| 3,967-31,874 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
184A
| Size |
| 14,000 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
184C
| Size |
| 10,940 SF |
| Space Use |
| Office/Retail |
| Position |
| In-Line |
| Available |
| Now |
195-199
| Size |
| 1,278-8,032 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
207
| Size |
| 1,713 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
175-177
| Size | 3,967-31,874 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Located near the highly trafficked intersection of I-65 and Airport Boulevard with visibility from 49,000+ vehicles daily
184A
| Size | 14,000 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Located near the highly trafficked intersection of I-65 and Airport Boulevard with visibility from 49,000+ vehicles daily
184C
| Size | 10,940 SF |
| Space Use | Office/Retail |
| Position | In-Line |
| Available | Now |
Located near the highly trafficked intersection of I-65 and Airport Boulevard with visibility from 49,000+ vehicles daily
195-199
| Size | 1,278-8,032 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Located near the highly trafficked intersection of I-65 and Airport Boulevard with visibility from 49,000+ vehicles daily
207
| Size | 1,713 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Former Fitness
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $8,641,140 | |
| Land Assessment | $2,668,480 | Total Assessment | $11,309,620 |
Property Taxes
