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Hamilton Heights Shopping Center 1500 Military St S

51,976 SF 72% Leased Retail Building Hamilton, AL 35570 $2,967,000 ($57/SF) 8.55% Cap Rate

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Investment Highlights

Walmart Shadow Center Anchored by Harbor Freight & Tools, Dollar Tree, Encore Rehabilitation, Subway, H&R Block, and 1st Franklin Financial
Attractive Assumable Financing Providing Double Digit Cash on Cash Returns
Stabilized Rent Roll with Many Long-term Tenants with Recent Lease Extensions

Secure Income Stream: 92% of income stream coming from national tenants
Significant Term Remains by Anchors: Harbor Freight & Tools (8 Yrs) and Dollar Tree (5 Yrs)

Executive Summary

Franklin Street is pleased to present the Hamilton Heights shopping center located in the City of Hamilton, Marion County, Alabama. Hamilton is the County seat and is located in the northwestern part of the state, bounded on the west by the State of Mississippi . The economy of Hamilton is diverse and is home to Bevill State Community College. and North Mississippi Medical Center. Hamilton Heights has several parks and recreation facilities, including the Hamilton Heights Community Center, the Hamilton Heights Soccer Complex, and the Hamilton Heights Walking Trail. The center is located adjacent to a Walmart Supercenter which serves an expanded trade area with limited competitors in the immediate trade area. A majority of the income stream for the shopping center (92%) is generated from national credit tenants and it is located on Military Street South, the main retail corridor in the submarket with 13,505 vehicles per day. The majority of the rent roll has significant tenancy history in their spaces and offer tenants affordable rent rates. The property is offered with attractive assumable financing with 6.0% interest and significant term remaining that allows for double digit cash on cash returns day 1.

Hamilton_Heights_HamiltonAL_OM

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Storefront

Building Size

51,976 SF

Building Class

Year Built

1985

Price

$2,967,000

Price Per SF

$57

Cap Rate

8.55%

NOI

$253,698

Percent Leased

72%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.20

Lot Size

5.91 AC

Opportunity Zone

Yes

Retailer
-
-
Jan 0000

At Dollar Tree, their customers can expect to find an environment where shopping is fun. They're known for their “thrill-of-the-hunt” shopping experience where customers can discover new, exciting items every week, from everyday essentials to fun craft, seasonal, and party merchandise. Many of the items they carry sell for more elsewhere, which means that their customers can stretch their dollars to get the products they need at an extreme value. They remain fiercely committed to their mission of bringing their customers extreme value every day, along with more thrills, more fun & new items every week! Dollar Tree carries a broad, exciting mix of consumable, variety, and seasonal merchandise that includes many trusted national and regional brands. In the midst of massive growth, Dollar Tree remains committed to their original mission: giving customers extreme value at low prices. With stores in the U.S. and Canada, they are fulfilling that mission more now than ever before.

Tenant	Industry	SF OCCUPIED	RENT/SF			Lease End
	Retailer	-	-			Jan 0000

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PROPERTY TAXES

Parcel Number	16-02-10-0-201-020-0000	Improvements Assessment	$1,036,500
Land Assessment	$130,680	Total Assessment	$1,167,180

PROPERTY TAXES

Parcel Number

16-02-10-0-201-020-0000

Land Assessment

$130,680

Improvements Assessment

$1,036,500

Total Assessment

$1,167,180

Listing ID: 29679748
Date on Market: 10/2/2023
Last Updated:
Address: 1500 Military St S, Hamilton, AL 35570

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