7701 Eastchase PkwyMontgomery, AL 36117

Property Details for 7701 Eastchase Pkwy

Year built

2019

Lot size

8.53 AC

Property size (Sq ft)

30,077 SF

Zone code

PUD

Property type

Retail properties

Property subtype

Retail space

APN

09-05-16-4-000-004.000

APU

905164000004000

Description

This exceptional investment opportunity presents a fee-simple ownership of a 65,000 square foot, two-tenant retail center in Montgomery, Alabama. Anchored by Best Buy and Burlington Coat Factory, both investment-grade tenants, the property boasts a 100% occupancy rate with six years remaining on their initial 10-year leases. Each tenant holds multiple five-year options to extend their lease, ensuring long-term stability and predictable income. The property features scheduled rent bumps throughout the initial lease term and at the start of each option period, providing a hedge against inflation and steadily increasing net operating income (NOI). The net lease structure minimizes landlord responsibilities, making this an ideal low-management investment. The property enjoys a prime location on Eastchase Parkway, a major retail corridor with high visibility from Interstate 85. Its strategic placement adjacent to a Costco-anchored center and across from a Target-anchored center further enhances its appeal. The center benefits from strong demographics, with a 5-mile trade area encompassing over 91,000 residents and an average household income exceeding $94,000. The property includes 312 parking spaces and sits on an 8.53-acre lot. Built in 2019, the single-story, two-building property offers a $951,111 NOI and a 6.60% cap rate, with an asking price of $14,400,000 ($216 per square foot). The property's strong tenant lineup, favorable lease terms, and prime location make it a compelling investment opportunity. The property is zoned O-2: Office Park. An interest-only loan at a fixed rate of 3.68% is assumable.

• CAP approach

  CAP return

  Valuation

  6%

  $5,727,485

  6.5%

  $5,286,910

  7%

  $4,909,273

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,784,385

  Geo Method

  $14,784,385

• Alternative Use

  Use

  Valuation

  Residential

  $4,459,706

  Hospitality

  $4,085,066

  Educational

  $3,398,728

  Medical

  $3,515,615

  Retail

  $5,286,910

Location Insight

City

Montgomery

County

Montgomery

State

Alabama

Latitude

32.3626

Longitude

-86.1568

CBSA code

33860

CBSA name

MONTGOMERY, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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