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3801 - 3815 Ross Clark Circle - Plaza North Shopping Center - Plaza North Shopping Center, Dothan, AL
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3801 - 3815 Ross Clark Circle - Plaza North Shopping Center - Plaza North Shopping Center
Dothan, AL 36303
7.57 AC (329,749 SF)
For Sale Price:
371 Surface spaces are available; Ratio of 4.67/1,000 SF
laza North provides an excellent opportunity for an investor to purchase a Neighborhood Center with stable, long-term tenants at an outstanding cap rate based on current income of 10%.
The center consists of seven units (5 occupied) and a six-bay auto repair facility occupied by Master Mechanix (which just exercised a 5-year option through August 2021). The five tenants are Burnham Shoes, Dothan Deal, Billiards, M&R Clothing, and Surplus Warehouse, which serves as anchor and occupies about half of the center. Surplus Warehouse (over 100 stores in 16 states) provides long-term stability to the center, as they have occupied the space since 1981 and will sign a long-term lease with the new owner.
Potential upside opportunities include increasing rents to market rate, leasing out the two vacant spaces (4,551 SF), and realizing the 10% rent escalation in Burnham' s lease next year.
Tenants benefit from prime location at the signalized intersection with Denton Road, large monument signage on Ross Clark Circle (26K VPD), and a recently rescaled and restriped parking lot. The center is also conveniently located less than a mile from Dothan Mall (636K GLA) and Northside Mall (358K GLA).
Seller Financing Available to Qualified Buyers.
CLICK HERE TO CONTACT THE SALES BROKER
FOR SALE CONTACTS
Bull Realty Inc.
(404) 876-1640 x101
View all my listings
(404) 876-1640 x150
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