322 Sutton Rd SE - Retail FOR SALE


Owens Cross Roads, AL 35763
$7,400,000 USD
404-832-1251
322 Sutton Rd SE, Owens Cross Roads, AL for Sale
$7,400,000 USD
Retail - FOR SALE
1/6
null | 7% Cap Rate

322 Sutton Rd SE
Owens Cross Roads, AL 35763


HIGHLIGHTS

  • 41,904 SF Walmart Shadow Center in the Huntsville, AL MSA (Walmart Generates 1.7M Annual Visits)
  • Value-Add Opportunity: 88% Leased and Development Pad Zoned for Up to 4,000 SF
  • Affluent Huntsville Suburb: $180,000+ Household Incomes
  • Ability to Push Rents: Most Recent Lease Done at $21.50 PSF While Remainder of Rent Roll is Paying $14-19 PSF
  • Compelling Future Upside: 5.82% 10 Year CAGR
  • Located at a Main-and-Main Intersection With the Corners Occupied by Walmart, Publix, Lowe's, and the Middle & Elementary Schools

OVERVIEW

Franklin Street is pleased to offer Hampton Cove Shops, a 41,904 SF Walmart Shadow Center in the Owens Cross Roads, Alabama. Owens Cross Roads is located within the booming Huntsville MSA just to the east of Huntsville Mountain. Huntsville is one of the fastest growing tech cities in the nation, and much of the growth can be attributed to the growth of the Redstone Arsenal (40,000+ employees) and NASA's Marshall Space Flight Center (7,000+ employees). Hampton Cove Shops is located in a tight leasing market within Owens Cross Roads, as there is very little vacancy in surrounding centers, which presents a significant upside opportunity for investors in leasing the 3 vacant units. The site comes with a vacant pad in the parking lot that could be developed for up to 4,000 SF. Surrounding projected sales for the adjacent big box retailers are very strong and helps drive customers to the center including Publix ($49.3M), Lowe's ($44.9M), and Walmart ($79.9M). Additional outparcel users generating traffic to the corner include Walgreens, O'Reilly Auto Parts, Anytime Fitness, Sonic, Murphy Oil, Wendy's, Taco Bell, among others. Within the center the tenancy is made up of a strong mixture of regional and national service tenants including Dollar Tree, H&R Block, ALFA Insurance, We Rock the Spectrum Gym, Jefferson's, among others.

FOR SALE DETAILS

PRICE

$7,400,000 USD

PRICE/SF

$177 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hampton Cove Shops

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

312

LAND DETAILS

LAND ACRES

7.71 AC

LAND SF

335,848 SF

ZONING

-

APN/PARCEL ID

18-07-26-0-003-022.007

ASK ABOUT THIS PROPERTY

Bryan BelkFranklin StreetMore Info
404-832-1251

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Bryan BelkFranklin StreetMore Info
404-832-1251

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.