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3500 Pelham Parkway, Pelham, AL

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3500 Pelham Parkway

Pelham, AL 35124-2012 - I-65 Corr/S Shelby County Submarket

(6.7 MB)

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:1995
Building Size:121,436 SF Land Area:16.54 AC (720,482 SF)
For Sale Price:$7,999,000 Price/SF:$65.87
Cap Rate:8.75 %
Parking:Free Surface spaces are available; Ratio of 5.97/1,000 SF
Features:Dedicated Turn Lane, Pylon Sign, Signalized Intersection

3500 Pelham, LLC is a retail shopping center located on a 16.54 Acre site. The building is one story built in 1995 and updated in 2007, for a total square footage of 134,170 RSF. The building is optimal for retail layout and floor area efficiency. Situated on a prominent thoroughfare with maximum exposure, this asset sits minutes from down town Birmingham, AL.

Sale Notes:
MasTec Network Solutions occupies the property under a net lease which commenced on 12/1/2013 and expires on 4/30/2020. The lease includes three percent (3%) annual rent increases and two (2) five-year options to renew. MasTec Network Solutions (NYSE: MTZ) is an American multinational infrastructure engineering and construction company based in Coral Gables, FL that engineers, builds, installs, maintains, and upgrades utility and communications infrastructure for AT&T, Verizon, T-Mobile and other major telecom corporations.

The 16.54 acre site is strategically located on Pelham Parkway (HWY 31) just off Intestate 65, the primary north-south interstate connecting Birmingham to Montgomery, Mobile, I-10 (to Tallahassee), and I-20 (to Atlanta). The 121,346 square foot office/warehouse, constructed in 1995, along with the ample parking provides MasTec with the ability to make repairs to telecommunications equipment, warehouse, office, and stage their trucks all under one roof at a central location.

Marcus & Millichap Inc
Drew Isaac
(303) 328-2048

Madison Schaffner
(303) 328-2037

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