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Shopping Strip

Semmes Town Plaza

7885 Moffett Rd, Semmes, AL 36575

Listing Price: $6,180,000

Cap Rate
7.25%
Gross SF
41,800
Rentable SF
41,800
Price/Gross SF
$147.85
Lot Size
4.62 acres
Year Built
2007

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a 100% fee simple interest in the Semmes Town Plaza (“The Property”), – a 41,800 square-foot Walmart shadow-anchored retail center, situated on 4.62 acres of land in Semmes, AL (Mobile, AL MSA). Built in 2006, the Property is 95% occupied by a complementary mix of discount and service-oriented retail tenants with 58% of the GLA consisting of National Credit tenants including Dollar Tree, AT&T, Cato, H&R Block, Little Caesar’s, and Super Cuts. The tenant lineup boasts strong historical occupancies with attractive contractual rent increases and staggered lease expirations. The Property is anchored by Dollar Tree who has been a tenant since 2006 and recently executed a 5-year lease extension. The Property benefits from its strategic positioning with direct access to Walmart’s parking lot creating convenient cross shopping synergies. Located just outside of Mobile, AL, the Property is positioned immediately adjacent to an extremely high performing Walmart Supercenter with more than 2.1 million annual visits and ranking in the top 1/3rd of Walmart’s nationwide according to Placer AI. In addition, Semmes Town Plaza is situated at the high traffic intersection of Moffett Rd (28,000 VPD) & Schillinger Rd (19,000 VPD). The Property features a modern façade and has been well-maintained. Most tenants include triple net lease structures with each tenant being responsible for its proportionate share of real estate taxes, insurance, and common area maintenance. The Property is offered free and clear of debt at a 7.25% cap rate totaling $6,180,000.

Investment Highlights

  • DOMINANT LOCATION ADJACENT TO HIGHPERFORMING WALMART SUPERCENTER
  • DISCOUNT & SERVICE ORIENTED RETAILWITH LONG TERM ANCHOR TENANT
  • LONG TENURED SUCCESS

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Shopping Strip

Semmes Town Plaza

Listing Price: $6,180,000

Cap Rate
7.25%
Gross SF
41,800
Rentable SF
41,800
Price/Gross SF
$147.85
Lot Size
4.62 acres
Year Built
2007

Investment Highlights

  • DOMINANT LOCATION ADJACENT TO HIGHPERFORMING WALMART SUPERCENTER
  • DISCOUNT & SERVICE ORIENTED RETAILWITH LONG TERM ANCHOR TENANT
  • LONG TENURED SUCCESS

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a 100% fee simple interest in the Semmes Town Plaza (“The Property”), – a 41,800 square-foot Walmart shadow-anchored retail center, situated on 4.62 acres of land in Semmes, AL (Mobile, AL MSA). Built in 2006, the Property is 95% occupied by a complementary mix of discount and service-oriented retail tenants with 58% of the GLA consisting of National Credit tenants including Dollar Tree, AT&T, Cato, H&R Block, Little Caesar’s, and Super Cuts. The tenant lineup boasts strong historical occupancies with attractive contractual rent increases and staggered lease expirations. The Property is anchored by Dollar Tree who has been a tenant since 2006 and recently executed a 5-year lease extension. The Property benefits from its strategic positioning with direct access to Walmart’s parking lot creating convenient cross shopping synergies. Located just outside of Mobile, AL, the Property is positioned immediately adjacent to an extremely high performing Walmart Supercenter with more than 2.1 million annual visits and ranking in the top 1/3rd of Walmart’s nationwide according to Placer AI. In addition, Semmes Town Plaza is situated at the high traffic intersection of Moffett Rd (28,000 VPD) & Schillinger Rd (19,000 VPD). The Property features a modern façade and has been well-maintained. Most tenants include triple net lease structures with each tenant being responsible for its proportionate share of real estate taxes, insurance, and common area maintenance. The Property is offered free and clear of debt at a 7.25% cap rate totaling $6,180,000.

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

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