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2234 - 2288 E South Boulevard - Capitol Plaza, Montgomery, AL

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2234 - 2288 E South Boulevard - Capitol Plaza

Montgomery, AL 36116-2485 - South Montgomery Submarket

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:1971
Building Size:202,000 SF Land Area:17.7 AC (771,056 SF)
For Sale Price:$2,800,000 Price/SF:$13.86
Cap Rate:9.00 %
Parking:Free Surface spaces are available; Ratio of 4.42/1,000 SF Anchor Tenants:Dollar General
Features:Pylon Sign, Signalized Intersection

Capital Plaza Mall is an investment opportunity located in Montgomery, Alabama with over 200,000 sq. ft. of leaseable space. The site is 94% leased with national and local tenants including Dollar General, Simply Fashion, Bestway Rentals and the Montgomery County Probate Office. Priced at $3,550,000 with a 8.6% cap rate. The property also offers an excellent rate of $18.90 per sq. ft. It is an excellent redevelopment opportunity. The City of Montgomery has multiple tax incentives for redevelopment and new business. There is a 70,000 sf tenant space that could easily be redeveloped into 2 or more tenant spaces. Capital Plaza also has an retail out parcel on the site. Burger King just built a new restuarant on an out parcel using city tax incentives. The property has stable tenants that should provide an excellent investment opportunity.
Capital Plaza is located at 2234 South Blvd at a highly visible intersection with Woodley Rd. in Montgomery, Alabama. The South Blvd has average daily traffic counts of over 40,000 vehicles.

Aronov Realty Management, Inc.
David L Potts
(334) 244-2523

Frank G Potts
(334) 277-1000 x229

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