1607 Commerce St, Greenville, AL 36037
5,120 SF | Retail Building | Greenville, AL 36037 | $447,000 ($87/SF) | 7% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 7 days
Asking Price $447,000
- Sale Condition
- 1031 Exchange
- Property Type
-
Retail
- Square Feet
- 5,120 SF
- Price / Square Foot
- $87
Listing Contacts
Cortland Lioi
Verified Profile
Gary Chou
Verified Profile
Matt Coates
Verified Profile
- Property Info
Property Overview
• Double net lease | Minimal landlord responsibilities
• New Roof | roof was completely replaced 3 years ago
• Corporate lease | Greenville Body Shop, Inc d/b/a Joe Hudson
Collision Center
• Naked lease | Ability to renegotiate lease in 5 years
• Value-add opportunity | Tenant is paying below-market rent of $6.56/SF | Market rent is $9.71/SF, according to CoStar Track Record | This site has been home to JHCC for over 20 years
• Strategic location | Property sits between U.S. Hwy 31 and Greenville Bypass
• Joe Hudson’s Collision Centers | 137 state-of-the-art auto body repair shops across the country and is the 4th largest collision shop operator in the country
• Major Southeast presence | Shop footprint includes Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, Tennessee, Texas and Virginia
• Recent deal with TSG Consumer Partners | In 2019, TSG became majority stake holder in Joe Hudson’s Collision Centers
• TSG Consumer Partners | San Francisco, CA-based private equity company that focuses on building and growing best in-class brands. Over $9 billion in assets under management
• New Roof | roof was completely replaced 3 years ago
• Corporate lease | Greenville Body Shop, Inc d/b/a Joe Hudson
Collision Center
• Naked lease | Ability to renegotiate lease in 5 years
• Value-add opportunity | Tenant is paying below-market rent of $6.56/SF | Market rent is $9.71/SF, according to CoStar Track Record | This site has been home to JHCC for over 20 years
• Strategic location | Property sits between U.S. Hwy 31 and Greenville Bypass
• Joe Hudson’s Collision Centers | 137 state-of-the-art auto body repair shops across the country and is the 4th largest collision shop operator in the country
• Major Southeast presence | Shop footprint includes Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, Tennessee, Texas and Virginia
• Recent deal with TSG Consumer Partners | In 2019, TSG became majority stake holder in Joe Hudson’s Collision Centers
• TSG Consumer Partners | San Francisco, CA-based private equity company that focuses on building and growing best in-class brands. Over $9 billion in assets under management
Property Details
- Class
- C
- Year Built
- 2002
- Stories
- 1
- Property Subtype
- Vehicle Related, Freestanding, Service
- Lot Size (sq. ft)
- 45,738 SF
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