1115 Coliseum Blvd

SCOPE Commercial Real Estate Investment Services is pleased to present the investment opportunity the Former Hardee’s Coliseum Corner at 1115 Coliseum Blvd in Montgomery, Alabama. This prime property, originally constructed in 1988 and beautifully renovated in 2022, features a 3,604 square foot building on an extremely rare 1.55-acre lot. Strategically positioned at the hard corner of a 4-way signalized intersection, it boasts unparalleled visibility at the intersection of Coliseum Blvd and Federal Dr/Cong W L Dickinson Dr. The property benefits from high traffic counts, including 15,000 vehicles per day at Coliseum Blvd/Cong W L Dickinson Dr, 13,400 vehicles per day at Coliseum Blvd/Traffic Operation, and 11,700 vehicles per day at Coliseum Blvd/Parkwood Dr. Additionally, the property is adjacent to a newer construction and institutionally owned Walmart Neighborhood Market shopping center, ensuring a steady stream of traffic throughout the corridor.
Zoned Commercial (B-2) under Montgomery City jurisdiction, this property allows for a variety of uses, including gas stations, retail, grocery stores, mixed-use developments, offices, and public services. The zoning permits a maximum site coverage of 50% and a building height of 45 feet or 3 stories, with setbacks for pump islands requiring a minimum of 10 feet from property lines. Currently in shell condition and sold vacant, the property is an ideal canvas for a Quick Service Restaurant (QSR). The high visibility and significant traffic counts ensure a steady flow of potential customers, crucial for the success of any QSR. The ample 1.55-acre lot provides sufficient space for drive-thru lanes, outdoor seating, and ample parking, essential features for a QSR to operate efficiently and cater to high customer volumes.
QSR rent comps in Montgomery, AL, show competitive lease rates. Nearby examples include Starbucks at $35/SF (7 miles away), Popeyes at $25.72/SF (6 miles), and Burger King ranging from $30.57/SF to $33.22/SF (6-8 miles). Hardees, 8 miles away, leases at $30.56/SF. The average lease rate is $31.41/SF, indicating strong rental income potential for the subject property. A void analysis by Placer.ai identifies several potential QSR tenants for 1115 Coliseum Blvd, based on fit scores, state locations, and expansion rates. Top candidates include Checkers (100.01% fit, 15 locations, nearest 52 miles), Rally’s (94.2% fit, 3 locations, nearest 80 miles), and Sbarro (92.83% fit, 4 locations, nearest 77 miles). Other strong contenders are Raising Cane’s (85.16% fit, 2 locations, 9.86% expansion rate), Gatti’s Pizza (83.57% fit, 1 location), Jefferson’s (74.97% fit, 10 locations, 11.11% expansion rate), and Mugshots Grill & Bar (74.88% fit, 7 locations, 16.67% expansion rate). These brands, combined with high traffic counts and a strategic location, enhance the property’s appeal for QSR businesses.
The property is located immediately adjacent to the State of Alabama’s National Guard, State Police Department and Academy, Department of Transportation, and Public Safety Department. Within 5 miles of the property, there are over 96,000 people. Montgomery, the capital of Alabama and the county seat of Montgomery County, is named for Richard Montgomery and is located on the Alabama River in the Gulf Coastal Plain. The Montgomery MSA has a population of around 367,000 residents, making it the third-largest city in Alabama after Birmingham and Huntsville. In addition to housing many Alabama government agencies, Montgomery has a large military presence due to Maxwell Air Force Base. It is also home to public universities Alabama State University, Troy University, and Auburn University at Montgomery, as well as private colleges/universities Faulkner University and Huntingdon College. Montgomery has been recognized nationally for its successful and ongoing downtown revitalization and new urbanism projects, being one of the first cities in the nation to implement Smart Code Zoning.