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3250 Airport BlvdMobile, AL 36606

Mobile, AL Retail Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
115
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.

Highlights

  • Value-add opportunity with nearly 120,000 SF of leasable space, increasing NOI potential.
  • Generates over 5 million annual visits, ranking in the top 3% of Alabama shopping centers and top 4% nationally.
  • Prime visibility and signalized access in Alabama's second-busiest retail node (22+ million annual visits).
  • Strong tenant lineup including Marshalls, Ulta, Burlington, and others, many ranking among the top performers in their respective categories in Alabama.
  • Shadow-anchored by a top-performing Sam's Club and adjacent to a Walmart Supercenter and Lowe's.
  • Densely populated trade area with 165,000 residents within 5 miles, supported by nearby hotels, a college, and Springhill Medical Center.

Property Details for 3250 Airport Blvd

Property type
Lifestyle centers, Power centers
Square Feet
375,065 SF
Year Built
1959

Location Insight

City
Mobile
County
Mobile
State
Alabama
Latitude
30.677715896155
Longitude
-88.122995500086
3250 Airport Blvd, Mobile, Alabama

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3250 Airport Blvd
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