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2405 Highway 78Jasper, AL 35501

Grocery-anchored retail center, 91% occupied

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Class A, 69,700 square foot retail center in Jasper, Alabama, presents a compelling investment opportunity. Currently 91% occupied, the property boasts a strong tenant roster including Winn-Dixie (64% of current rental income), Aldi, Publix, Target, Walmart, Albertsons, Trader Joe's, Harveys, Aaron's, Drayer Physical Therapy, ALFA Insurance, Advance America, and OneMain Financial. Tenants benefit from a prime location on Highway 78 E, enjoying excellent visibility and access with approximately 66,500 vehicles passing daily. The center's strategic location is further enhanced by its proximity to a Walmart Supercenter, Home Depot, Jasper Mall, and numerous other retail establishments, as well as Walker Baptist Medical Center and Jasper High School. The property features a single, one-story building on a 7.1-acre lot, constructed in 1991. Recent lease extensions with several key tenants demonstrate long-term stability. The current pro-forma NOI stands at $612,354, with an average rent of approximately $9.20 per square foot. A significant upside potential exists with 6,300 square feet (three units) currently vacant, offering immediate leasing opportunities to increase NOI. The investment is structured as a Net Lease (NNN) with credit-rated tenants and corporate guarantees, providing added security. Various lease options and rent bumps are available. This is a rare opportunity to acquire a well-positioned, high-performing retail center with a proven track record and significant growth potential.

Highlights

  • Corporate-guaranteed leases.
  • Grocer-anchored center with Winn-Dixie (64% of rental income).
  • 91% leased.
  • 6,300 SF of vacant space offers immediate upside potential.
  • Recent lease extensions with major tenants.
  • Average rent of $9.20/SF.

Property Details for 2405 Highway 78

Property type
Lifestyle centers, Power centers
Square Feet
69,700 SF
Class
A
Year Built
1991
Buildings
1
Stories
1
Lot Size (sq. ft)
309,276 SF
Units
10

Location Insight

City
Jasper
County
Walker
State
Alabama
Latitude
33.8420525
Longitude
-87.2455068
2405 Highway 78, Jasper, Alabama

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2405 Highway 78
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