For Sale
$3,670,000

3000 Meighan BlvdGadsden, AL 35903

Gadsden, AL Retail Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
115
This 85,323-square-foot shopping center in Gadsden, Alabama, presents a compelling value-add investment opportunity. Currently boasting 90.86% occupancy with six tenants, including Dollar General, Tractor Supply, and Ollie's, the property offers significant upside potential. Built in 1985 and renovated in 2015, the center sits on a 12.2-acre lot at 3000 E Meighan Blvd, offering high visibility and easy access from a major thoroughfare. The asking price is $3,670,000, representing a price per square foot of $43 and an attractive 8.25% cap rate based on a net operating income (NOI) of $302,757. The property features a mix of long-term and short-term leases, with an average lease term of 12.6 years and average rent of $4.9 per square foot. Three vacant units totaling 7,800 square feet provide immediate opportunities to increase revenue. The ample parking lot also presents potential for outlot development. Ollie's is the only tenant on a gross lease. The property is offered fee simple.

Highlights

  • 85,323-square-foot neighborhood shopping center in Gadsden, Alabama, with 90.86% occupancy.
  • Anchored by Dollar General, Tractor Supply, and Ollie's. $3,670,000 asking price, representing a $43/SF price and an 8.25% cap rate.
  • Features 7,800 square feet of vacant space offering immediate upside potential.
  • Sits on a 12.2-acre lot with ample parking and outlot development potential.
  • Located on a major thoroughfare with high visibility and easy access.

Property Details for 3000 Meighan Blvd

Property type
Lifestyle centers, Power centers
Square Feet
85,323 SF
Year Built/Renovated
1985/2015
Lot Size (sq. ft)
531,432 SF
Units
9

Location Insight

City
Gadsden
County
Etowah
State
Alabama
Latitude
33.974661011977
Longitude
-85.95065876888
3000 Meighan Blvd, Gadsden, Alabama

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3000 Meighan Blvd
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