3250 Airport Blvd Mobile, AL 36606

Springdale, a 375,065 square foot multi-tenant shopping center in Mobile, Alabama, presents a compelling value-add investment opportunity. Located on approximately 48 acres, this property boasts an 81% occupancy rate and features a strong tenant lineup including Marshalls, Five Below, Ulta, and Burlington. The center benefits from its location in the second busiest retail node in Alabama, attracting over 22 million annual visits. Significant upside potential exists with nearly 120,000 square feet of leasable space available for lease, allowing for substantial NOI growth. The property is shadow-anchored by a top-performing Sam's Club and situated near a Walmart Supercenter and Lowe's, further enhancing its appeal. Built in phases (1959, 2004, and 2022), the property benefits from recent improvements, including a completely replaced inline roof (2017-2022, under warranty) and recent parking lot renovations (2022). The densely populated Mobile market, with 165,000 residents within a 5-mile radius, provides a strong customer base. Supporting demand drivers include nearby hotels, a college, and Springhill Medical Center. The property's proximity to the Port of Mobile, a major economic engine, further strengthens its long-term prospects. Included are attractive outparcels such as Seven Brew and David's Bridal, offering additional development or spin-off potential. This property offers a rare opportunity to acquire a well-located retail center below replacement cost with limited deferred maintenance needs.