Log In/Sign Up
Your email has been sent.
Improved Income-Producing Regional Mall 7201 Aaron Aronov Dr 291,597 SF 45% Leased Retail Building Online Auction Sale Fairfield, AL 35064
Matterport 3D Tours
Investment Highlights
- Acquire the largest indoor shopping mall in the trade area, with multiple pathways for investment through lease-up, redevelopment, or repositioning.
- Existing 43.9% occupancy supports immediate NOI growth through a disciplined lease-up of already renovated spaces, enabling rapid tenant activation.
- Traffic drivers such as Hibbett, Dream Furniture Outlet, and City Gear anchor a tenant mix that supports smaller retailers and steady foot traffic.
- Nearly 300,000 RSF across 16.3 acres provides scale and flexibility rarely available to value-focused investors in established suburban markets.
- Recent capital improvements to HVAC, parking, lighting, and restrooms reduce near-term risk while advancing merchandising and stabilization efforts.
- Strategic location and recent rezoning expand long-term upside through entertainment, service-oriented, or alternative retail redevelopments.
Executive Summary
Marcus & Millichap is pleased to present Western Hills Mall, offering the rare opportunity to acquire a 100% fee simple interest in the largest indoor shopping mall in the trade area, located at 7201 Aaron Aronov Drive in Fairfield, Alabama. Encompassing 291,597 rentable square feet across 16.3 acres, the asset allows value-focused investors to control a large, irreplaceable property at a fraction of replacement cost, offering multiple paths to value creation through lease-up, redevelopment, or a phased repositioning strategy.
Currently 43.9% occupied, Western Hills Mall provides immediate NOI stabilization potential through a disciplined lease-up of renovated vacancy. Recent capital improvements, including new HVAC, parking lot resurfacing, interior and exterior lighting upgrades, and renovated restrooms, reduce near-term deferred maintenance and support an accelerated merchandising plan. Many vacant units have already been renovated to be brought online quickly, allowing new ownership to pursue near-term occupancy gains while reshaping the tenant mix around traffic drivers such as Hibbett, Dream Furniture Outlet, and City Gear, which help support smaller retailers by generating exposure and consistent foot traffic.
Long-term repositioning value reinforces the mall’s location at the intersection of Bessemer Highway/US Highway 11 and Aaron Aronov Drive, a four-lane commercial corridor connecting Fairfield and Midfield, and by demand fundamentals in an established trade area serving 52,000+ residents within 3 miles and $501.3 million in total consumer spending.
Fairfield’s recent move to rezone its largest business district for multi-use development further expands the options for creative redevelopment, including mixed-use, entertainment, service, community, or alternative retail formats. Founded in 1910 and located approximately 7 miles southwest of Birmingham, Fairfield anchors a historic employment base tied to the steel industry and benefits from an institutional presence in nearby Miles College, an HBCU, adding depth to the market narrative and supporting a compelling repositioning thesis for this well-located regional mall.
Property tours are by appointment only. Please contact the listing broker to schedule.
Currently 43.9% occupied, Western Hills Mall provides immediate NOI stabilization potential through a disciplined lease-up of renovated vacancy. Recent capital improvements, including new HVAC, parking lot resurfacing, interior and exterior lighting upgrades, and renovated restrooms, reduce near-term deferred maintenance and support an accelerated merchandising plan. Many vacant units have already been renovated to be brought online quickly, allowing new ownership to pursue near-term occupancy gains while reshaping the tenant mix around traffic drivers such as Hibbett, Dream Furniture Outlet, and City Gear, which help support smaller retailers by generating exposure and consistent foot traffic.
Long-term repositioning value reinforces the mall’s location at the intersection of Bessemer Highway/US Highway 11 and Aaron Aronov Drive, a four-lane commercial corridor connecting Fairfield and Midfield, and by demand fundamentals in an established trade area serving 52,000+ residents within 3 miles and $501.3 million in total consumer spending.
Fairfield’s recent move to rezone its largest business district for multi-use development further expands the options for creative redevelopment, including mixed-use, entertainment, service, community, or alternative retail formats. Founded in 1910 and located approximately 7 miles southwest of Birmingham, Fairfield anchors a historic employment base tied to the steel industry and benefits from an institutional presence in nearby Miles College, an HBCU, adding depth to the market narrative and supporting a compelling repositioning thesis for this well-located regional mall.
Property tours are by appointment only. Please contact the listing broker to schedule.
Matterport 3D Tours
1 of 2
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Miscellaneous
Market Analytics Click Here to Access
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Building Size
291,597 SF
Building Class
B
Year Built/Renovated
1970/2024
Percent Leased
45%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
6 Exterior
Building FAR
0.41
Lot Size
16.30 AC
Parcel Number
30-00-13-3-003-017.000
Zoning
B2 - Commercial/Business
Parking
530 Spaces (1.82 Spaces per 1,000 SF Leased)
Frontage
794’ on Aaron Aronov Dr
Amenities
- Bus Line
- Dedicated Turn Lane
- Food Court
- Pylon Sign
- Signage
- Signalized Intersection
- Kiosk/Cart Space
- Enclosed Mall
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
-
Jan 0000
A furniture store that brings your inner interior designer to life with comfort, style, quality and affordability for all.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | Jan 0000 |
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
20/100
Fairly bikeable
40/100
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
7,794
55,932
120,660
2020 Population
7,933
52,616
114,015
2030 Population
7,727
56,444
121,616
2025-2030 Projected Population Growth
-0.9%
0.9%
0.8%
Daytime Employees
1,965
10,799
41,598
Total Businesses
267
1,228
4,658
Average Household Income
$63,977
$58,827
$64,032
Median Household Income
$47,271
$43,770
$45,325
Total Consumer Spending
$70.4M
$501.3M
$1.1B
Median Age
40.1
41.1
39.9
2025 Households
3,075
23,200
50,864
Percent College Degree or Above
12%
11%
13%
Average Home Value
$142,024
$133,538
$178,160
Nearby Major Retailers
Sale Advisors
Sale Advisors
Jason Yukins, Senior Director Investments
Jason Yukins focuses exclusively on investment property sales, specifically retail shopping centers in the Southeast and net-leased investments throughout the country. Jason represents a wide array of investors, including private investors, developers, institutions, and publicly traded REIT’s. Since his inception to the Firm in 2007, Jason has received numerous accolades for his superior service and outstanding performance.
Eddie Greenhalgh, Senior Vice President Investments
Eddie Greenhalgh began his real estate career in 2004, opening the Birmingham office of Marcus & Millichap in early 2007. He is currently senior vice president of investments and senior director of the National Self-Storage Group. In addition, he serves as Marcus & Millichap's broker of record for Alabama, is a senior member of the Alabama Commercial Real Estate Leadership Council, and is a past president of the Alabama Self Storage Association.
Eddie has successfully closed over $2.7 billion in investment real estate in his 15 years with Marcus & Millichap and has been involved in over $4.3 billion in sales throughout his career. He is ranked in the top ten brokers of the National Self-Storage Group, is the leading storage broker in the state of Alabama, and is consistently ranked in the top three in his region for all product types.
He is a member of the CCIM, past president of the Freshwater Land Trust JB, and supporter of Big Brothers/Big Sisters. In his free time, he enjoys spending time with his family, sailing, snowboarding, and croquet.
Eddie has successfully closed over $2.7 billion in investment real estate in his 15 years with Marcus & Millichap and has been involved in over $4.3 billion in sales throughout his career. He is ranked in the top ten brokers of the National Self-Storage Group, is the leading storage broker in the state of Alabama, and is consistently ranked in the top three in his region for all product types.
He is a member of the CCIM, past president of the Freshwater Land Trust JB, and supporter of Big Brothers/Big Sisters. In his free time, he enjoys spending time with his family, sailing, snowboarding, and croquet.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
Read More
Auction Contact
Sophy Cardenas
Contact
Auctioneer License:
Ten-X, LLC Jessica Anne Figueroa RE Brkr 000107846-0 Ten-X, Inc. dba Ten-X Commercial, Inc. Auction Firm C315; Samantha Corbat Auctioneer A5662
1 of 23
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
Presented by
Improved Income-Producing Regional Mall | 7201 Aaron Aronov Dr
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.