Winn-Dixie-anchored Center | ±74,430 VPD
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Winn-Dixie-anchored Center | ±74,430 VPD
3 Retail Properties Offered at $6,347,800 in Montgomery, AL
Investment Highlights
- University location | Site is a couple blocks from Alabama State University | 3,964 student
- Excellent access and visibility from Carter Mill Rd, Mulberry St, & Narrow Lane Rd | A combined ±74,430 VPD
- About 5 miles from Maxwell Air Force Base | 12,500+ active duty, reserve, civilian, and contractor personnel
- Anchored by Winn-Dixie, which accounts for 53%+ of the total rent | Corporate Guarantee (ALDI Credit) | Cheap rent at only $6/SF
- Dense area | 83,000+ residents live within a 10-minute drive
- Potential upside | A Buyer can lease up several vacancies that account for about 14% of the total GLA, which would immediately increase the NOI
Executive Summary
Recent & Upcoming Improvements:
• Parking lot completed in 2023
• Parking lot lighting completed in 2023
• Parking lot cracks filled & sealed
• Wheel stops and speed bumps installed to enhance customer safety
• New Dollar Tree lease signed 2023
• Winn-Dixie remodel planned for 2025
• Winn-Dixie lease now with Aldi Credit
PROPERTY HIGHLIGHTS
• University location | Site is a couple blocks from Alabama State University | 3,964 students
• Anchored by Winn-Dixie, which accounts for 53%+ of the total rent
– Corporately guaranteed lease
– Cheap rent at only $6/SF
• Excellent access and visibility from Carter Mill Rd, Mulberry St, & Narrow Lane Rd | A combined ±74,430 VPD
• Potential upside | A Buyer can lease up several vacancies that account for about 14% of the total GLA, which would immediately increase the NOI
• Site is walking distance to:
– I-85 | 115,800 VPD
– Jackson Hospital | 344-bed acute care hospital
– Huntingdon College | 1,100 students
• Just over a mile from:
– Midtown Plaza, a Walmar Supercenter-anchored shopping center | Other tenants include Ross, Shoe Carnival, Chick-fil-A, Dollar Tree,
O’Reilly Auto Parts, GameStop, Wendy’s, Verizon, among others
– A Publix Super Market-anchored shopping center
– Montgomery Academy | 805 students
• About two miles from Downtown Montgomery
• Dense area | 83,000+ residents live within a 10-minute drive
• About 5 miles from Maxwell Air Force Base | 12,500+ active duty, reserve, civilian, and contractor personnel
• Parking lot completed in 2023
• Parking lot lighting completed in 2023
• Parking lot cracks filled & sealed
• Wheel stops and speed bumps installed to enhance customer safety
• New Dollar Tree lease signed 2023
• Winn-Dixie remodel planned for 2025
• Winn-Dixie lease now with Aldi Credit
PROPERTY HIGHLIGHTS
• University location | Site is a couple blocks from Alabama State University | 3,964 students
• Anchored by Winn-Dixie, which accounts for 53%+ of the total rent
– Corporately guaranteed lease
– Cheap rent at only $6/SF
• Excellent access and visibility from Carter Mill Rd, Mulberry St, & Narrow Lane Rd | A combined ±74,430 VPD
• Potential upside | A Buyer can lease up several vacancies that account for about 14% of the total GLA, which would immediately increase the NOI
• Site is walking distance to:
– I-85 | 115,800 VPD
– Jackson Hospital | 344-bed acute care hospital
– Huntingdon College | 1,100 students
• Just over a mile from:
– Midtown Plaza, a Walmar Supercenter-anchored shopping center | Other tenants include Ross, Shoe Carnival, Chick-fil-A, Dollar Tree,
O’Reilly Auto Parts, GameStop, Wendy’s, Verizon, among others
– A Publix Super Market-anchored shopping center
– Montgomery Academy | 805 students
• About two miles from Downtown Montgomery
• Dense area | 83,000+ residents live within a 10-minute drive
• About 5 miles from Maxwell Air Force Base | 12,500+ active duty, reserve, civilian, and contractor personnel
Property Facts
| Price | $6,347,800 | Number of Properties | 3 |
| Price / SF | $93.87 / SF | Individually For Sale | 0 |
| Cap Rate | 7.15% | Total Building Size | 67,622 SF |
| Sale Type | Investment | Total Land Area | 12.87 AC |
| Status | Active |
| Price | $6,347,800 |
| Price / SF | $93.87 / SF |
| Cap Rate | 7.15% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 67,622 SF |
| Total Land Area | 12.87 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Country Club Centre
1760-1786 Carter Hill Rd, Montgomery, AL 36106 |
Retail | 17,000 SF | 1991 | - |
|
Winn-Dixie
1740 Carter Hill Rd, Montgomery, AL 36106 |
Retail | 35,922 SF | 1991 | - |
|
Country Club Centre
1702-1738 Carter Hill Rd, Montgomery, AL 36106 |
Retail | 14,700 SF | 1991 | - |
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Contacts
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Nikki Faris -
Gary Chou -
Matt Coates -
Calvin Short -
Rad Werssowetz -
Berkeley Capital Advisors
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Winn-Dixie-anchored Center | ±74,430 VPD
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