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2234 - 2288 E South Boulevard - Capitol Plaza - Auction:9/26 - 9/28: Capitol Plaza Shopping C, Montgomery, AL

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2234 - 2288 E South Boulevard - Capitol Plaza - Auction:9/26 - 9/28: Capitol Plaza Shopping C

Montgomery, AL 36116-2485 - South Montgomery Submarket


Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:1970
Building Size:200,809 SF Land Area:19.4 AC (845,064 SF)
For Sale Price:For Sale Price/SF:-
Cap Rate:-
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.

Sale Notes:
Auction:9/26 - 9/28: Capitol Plaza Shopping Center

Property tours are scheduled for Tuesday, September 12th from 1:00pm-3:00pm and Thursday, September 21st from 1:00pm-3:00pm, or upon request, by appointment ONLY. Please contact Frank Potts at 334-244-2527 or frank.potts@aronov.com to schedule. Investment Highlights:224,809 GSF shopping center in Montgomery, AL61.7% leased at approximately $4.21 PSFComprised of 18 units across four buildingsStrong mix of local and national tenantsValue-add opportunity through lease up of vacant suitesWithin a five-minute walk of multiple public transportation stopsInvestment Overview: Capitol Plaza Shopping Center (the "Property") is a 224,809 GSF retail center in Montgomery, Alabama.Located at 2234-2288 East South Boulevard, the Property consists of 3 one-story buildings and 1 two-story building totaling approximately 224,809 GSF. The buildings, with 200,809 RSF, are on one parcel totaling 19.4 acres. Originally constructed in 1970 and 1971, the Property is demised into 18 units, including two anchor store spaces, and is currently 61.7% occupied. The anchor tenant, Capitol Farmer's Market (33.95% NRA; 25.30% of total revenue), has been a tenant since May of 2008, with a lea

The anchor tenant, Capitol Farmer's Market (33.95% NRA; 25.30% of total revenue), has been a tenant since May of 2008, with a lease expiration of September 2026. The other anchor unit is approximately 73,500 SF, and currently vacant. The second largest tenant by space is Dolgencorp d/b/a Dollar General (6.16% NRA; 11.27% of total revenue), a tenant since March 2000 with a lease expiration of February 2021. The remaining occupants are a mix of local and national tenants. Burger King has a store on a pad in front of the shopping center. The Property, located at the intersection of South Boulevard and Woodley Road, sees averages of over 44,700 vehicles per day. It is easily accessible to commuters, with 6 public transportation stops located within a five-minute walk. Surrounding land uses include commercial and residential properties to the north, residential properties to the south, commercial properties to the east, and there are several large multi-family properties adjacent to the mall to the west. Baptist Medical Center South is 0.6 miles to the west and BRC Montgomery Mall is 1.1 miles east of the Property. Nearby colleges include Alabama State University, 3.0 miles to

Aronov Realty Management, Inc.
Frank G Potts
(334) 277-1000 x229

  
Ten-X, LLC
Loretta Okoye
(212) 228-0221




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