1500 Military St, Hamilton, AL 35570
51,976 SF | 100% Leased | Retail Building | Hamilton, AL 35570 | $2,967,000 ($57/SF) | 8.50% Cap Rate
For Sale
Active
Asking Price $2,967,000
- Property Type
-
Retail
- Square Feet
- 51,976 SF
- Price / Square Foot
- $57
Listing Contacts
Property Overview
Franklin Street is pleased to present the Hamilton Heights shopping center located in the City of Hamilton, Marion County, Alabama. Hamilton is the County seat and is located in the northwestern part of the state, bounded on the west by the State of Mississippi . The economy of Hamilton is diverse and is home to Bevill State Community College. and North Mississippi Medical Center. Hamilton Heights has several parks and recreation facilities, including the Hamilton Heights Community Center, the Hamilton Heights Soccer Complex, and the Hamilton Heights Walking Trail. The center is located adjacent to a Walmart Supercenter which serves an expanded trade area with limited competitors in the immediate trade area. A majority of the income stream for the shopping center (92%) is generated from national credit tenants and it is located on Military Street South, the main retail corridor in the submarket with 13,505 vehicles per day. The majority of the rent roll has significant tenancy history in their spaces and offer tenants affordable rent rates. The property is offered with attractive assumable financing with 6.0% interest and significant term remaining that allows for double digit cash on cash returns day 1.
Property Details
- Class
- B
- Year Built
- 1985
- Stories
- 1
- Property Subtype
- Storefront
- Lot Size (sq. ft)
- 257,440 SF
Highlights
- Walmart Shadow Center Anchored by Harbor Freight & Tools, Dollar Tree, Encore Rehabilitation, Subway, H&R Block, and 1st Franklin Financial
- Secure Income Stream: 92% of income stream coming from national tenants
- Attractive Assumable Financing Providing Double Digit Cash on Cash Returns
- Significant Term Remains by Anchors: Harbor Freight & Tools (8 Yrs) and Dollar Tree (5 Yrs)
- Stabilized Rent Roll with Many Long-term Tenants with Recent Lease Extensions
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