20 Broadway AveSylacauga, AL 35150

Property Details for 20 Broadway Ave

Lot size

1.74 AC

Property size (Sq ft)

28,515 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 28,515 square foot retail center in Sylacauga, Alabama, boasting a 100% occupancy rate and a strong NOI of $148,459, yielding a 7.05% cap rate. The property is anchored by a Family Dollar, a BBB-rated investment-grade tenant with a 20+ year presence, ensuring stability and a high likelihood of lease renewal. The center features six tenants in total, generating substantial foot traffic. Situated on a 1.74-acre lot, the property offers ample parking (approximately 90 spaces), providing one space per 315 square feet. Its prime location on Broadway Avenue offers excellent visibility and accessibility, with two entry points and a center turn lane, benefiting from high traffic volume exceeding 10,000 vehicles per day – over 80% of Sylacauga's 12,500 residents. The property's land value is exceptionally priced at $74 per square foot, significantly below the market average of $130. This is further supported by its proximity to over 6,500 homes within a 3-mile radius and a strong retail corridor featuring national tenants such as Walgreens, Arby's, and AutoZone within a half-mile. The asking price for this well-positioned, high-performing retail center is $2,105,803. This represents a compelling investment opportunity with significant potential for future growth and return.

Location Insight

City

Sylacauga

County

Talladega

State

Alabama

Latitude

33.1679

Longitude

-86.25

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