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2962 - 3012 Dauphin Island Parkway - Gulfdale Plaza Shopping Center - Gulfdale Plaza, Mobile, AL

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2962 - 3012 Dauphin Island Parkway - Gulfdale Plaza Shopping Center - Gulfdale Plaza

NWC of Dauphin Island Pky @ Brill Rd
Mobile, AL 36605-3824 - Midtown Submarket


Property Type:Retail Sub Type:- Status:Existing , Renov 2001 Year Built:1963
Building Size:94,712 SF Land Area:11 AC (479,160 SF)
For Sale Price:$4,100,000 Price/SF:$43.29
Cap Rate:10.00 %
Parking:Free Surface spaces are available; Ratio of 4.8/1,000 SF Anchor Tenants:Family Dollar Store, Food Champs, Rainbow
Features:Air Conditioning, Common-area parking only, Freeway Visibility, Pylon Sign, Signage, Signalized Intersection


Gulfdale Plaza is located along an established primary thoroughfare. The area is the most recognized location in the southeastern peninsula of Mobile.

Sale Notes:
Matthews Real Estate Investment Services is proud to offer to Gulfdale Plaza in Mobile, Alabama. Gulfdale Plaza is a 94,712 square foot center that is currently 78% occupied and anchored by Food Champs, Dollar Tree, Rainbow and Family Dollar. This offering presents the opportunity to acquire a grocery-anchored center with significant value-add through lease up of 20,548 square feet of vacancy. Food Champs, Dollar Tree, Rainbow and Family Dollar currently make up 88% of the existing in-place income.
Dollar Tree just signed a new lease at the center creating new leasing momentum and Food Champs negotiated an additional 5-year option with the owner, further demonstrating their long-term commitment to the center. Food Champ' s sales have been increasing every year and are currently operating at a strong health ratio
and occupancy cost.

Strong Value-Add Component Vacancy totaling 20,548 square feet presents an investor the opportunity to substantially increase their cash flow
Food Champs has a strong health ratio with sales that have been increasing every year
New lease with Dollar Tree has sparked leasing momentum
Priced well below replacement cost ($43/SF) average rents are below $9/SF
Strong returns day 1 with over 45% NOI growth in the first 2-3 years once vacancy is leased
Food Champs, Dollar Tree, Rainbow and Family Dollar make up 88% of the in-place income

Matthews Real Estate Investment Services
Jordan Powell
(866) 889-0550

  
Matthews Real Estate Investment Services
Scott Henard
(214) 692-2046




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