For Sale
$2,750,000

3664 Galleria CirHoover, AL 35244

High-performing retail investment. Strong lease terms.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 5,000 square foot Men's Wearhouse storefront in Hoover, Alabama's affluent Riverchase Galleria. Located at 3664 Galleria Cir, 35244, this single-tenant, net-lease property boasts a 6% cap rate and a strong NOI of $165,000. The lease, with a credit-rated tenant, has over 3.2 years remaining, extending to January 31, 2028, and includes four, 5-year options with a 10% rent increase every five years. Built in 2016 on a 0.35-acre lot, this property benefits from its prime location within a high-traffic retail center, near major roadways (I-459 and Montgomery Highway, combined 170,250 vehicles per day), and surrounded by other national retailers such as Sam's Club, Costco, and more. The property is situated in a high-income area, with average household incomes exceeding $119,000 within a 5-mile radius. This Men's Wearhouse location is ranked in the top 7% nationwide, demonstrating its exceptional performance and strong residual value. The property offers a compelling combination of a secure, long-term lease, significant rental growth potential, and a prime location within a thriving retail environment. This is a rare opportunity to acquire a top-performing retail asset with significant upside potential.

Highlights

  • $2,750,000 asking price for a 5,000 SF Men's Wearhouse storefront in Hoover, AL.
  • Net lease, credit-rated tenant, with a 6.00% cap rate and $165,000 NOI.
  • 3.2 years remaining on a triple-net (NNN) lease expiring January 31, 2028, with four, 5-year lease options and 10% rent bumps every 5 years.
  • Located in the Riverchase Galleria, a high-traffic retail center near I-459 and Montgomery Highway, with strong demographics (>$119,000 avg. household income within 5 miles).
  • Top 7% performing Men's Wearhouse nationwide (Placer AI), built in 2016 on a 0.35-acre lot.

Property Details for 3664 Galleria Cir

Property type
Retail properties, Retail space
Square Feet
5,000 SF
Year Built
2016
Buildings
1
Stories
1
Lot Size (sq. ft)
15,246 SF

Location Insight

City
Hoover
County
Jefferson
State
Alabama
Latitude
33.377480212653
Longitude
-86.810891289656
3664 Galleria Cir, Hoover, Alabama

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3664 Galleria Cir
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