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465 Pike Street - Tractor Supply | Farmers Furniture, Monroeville, AL

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465 Pike Street - Tractor Supply | Farmers Furniture

Monroeville, AL 36460


Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:1990
Building Size:53,000 SF Land Area:7.64 AC (332,798 SF)
Smallest Space:13,550 SF Largest Space:13,550 SF Total Space Avail:13,550 SF Rent/SF/Yr:
Negotiable


Space Available:
Floor
SF Avail
Rent
Occupancy
Lease Term
Space Use
 1st
13,550 SF
Negotiable
Vacant
Negotiable
Retail
 
8735802
Marketing Flyer Marketing Flyer  


Floor
SF Avail
Rent/SF/Yr
Occupancy
Lease Term
Space Use
1st
13,550 SF
Negotiable
Vacant
Negotiable
Retail

Sale Notes:
Marcus & Millichap, as exclusive agent to the Seller, is offering for sale a 51,935 square foot Tractor Supply & Farmer's Home Furniture anchored shopping center positioned on 7.64 acres in Monroeville, Alabama. The subject property is a former Walmart that was converted into a 3 tenant shopping center. Walmart relocated into a Supercenter 2.8 miles south of the subject property. The roof was replaced less than 4 years ago and the parking lot has been recently resealed and restriped and both tenants are responsible for the maintenance of their own HVAC systems. This offering presents an investor the opportunity to achieve cash on cash returns of 16% with little management responsibilities.

Tractor Supply currently has 4 years remaining on an original 10 year NNN lease that commenced in 2011. Farmer's Furniture has 3 years remaining on an original 7 year gross lease. Both tenants have 2 (5) year options to renew with increases. At closing, the Seller will agree to master lease through an escrow account the remaining 13,500 SF of space at $4.00 PSF gross for 3 years.

Monroeville is located in Southwest Alabama and the county seat of Monroe County. It is located 88 miles from Mobile and 26 Miles west of Interstate 65. Within a 5 mile radius, the 2010 population was 10,043 with an average household income of 54,218.


JLL
Allen Garstecki
(251) 301-7369

Buff Teague
(251) 341-1600 x2



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