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Shopping Community

Olgetree Plaza

204 W Fort Williams St, Sylacauga, AL 35150

Listing Price: $6,250,000

Cap Rate
7.00%
Gross SF
101,247
Rentable SF
101,247
Price/Gross SF
$61.73
Lot Size
6.51 acres
Year Built
1966

Investment Overview

Olgetree Plaza @ Sylacauga is a 101,247 square feet neighbourhood community Center located along the W Fort Williams Street in Sylacauga, Alabama. Anchored by Dollar Tree, Meat Depot, Ace Hardware and Badcock Furniture, the center is located at a signalized intersection with excellent access and visibility. The offering sits on 6.51 acres just two blocks north of Coosa Medical Center, the area’s largest employer which serves five contiguous counties with a total population of 62,000. The property benefits from being close to majority of Sylacauga’s residents and main economic drivers. West Fort Williams Street serves as an access road to U.S. Highway 280, which brings 25,000 vehicles into the immediate area daily.

The property is offered at a price of $6,250,000 ($62 per square foot) with current base rent of $488,192 which could increase to $602,432 with all vacancies filled. Diverse tenant mix of grocery, home improvement, discount store, medical clinic, pharmacy, beauty supply, and a busy quick service restaurant (out parcel not included in the sale), synergizes to benefit the Neighbourhoods.

Investment Highlights

  • "BBB" rated Dollar Tree opened in 2022, has options until 2051 with rent increases
  • Offered at $6.25M ($62 per square foot) with current base rent of $488K, which is expected to grow by $114K
  • $800k invested in the center, including the new roof
  • Marble City Pharmacy at the center since 2003 expanded space, added a drive-through with 40% increase in 2028 (lease until 2032)
  • Family Health at the center since 2005 extended their lease until 2035 with 2% annual rent increase from 2026
  • $10B annual revenue company, Ace Hardware, with 5,828 stores opened at the center in 2023, has extension options until 2047 with rent increases
  • 380 unit strong Badcock Furniture has been at the Center since 1999, recently extended for 5 more years with 3% annual rent increases
  • Meat Depot by Fresh Value (14 units in AL) paying only $3.47 annual rent per square foot

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Shopping Community

Olgetree Plaza

Listing Price: $6,250,000

Cap Rate
7.00%
Gross SF
101,247
Rentable SF
101,247
Price/Gross SF
$61.73
Lot Size
6.51 acres
Year Built
1966

Investment Highlights

  • "BBB" rated Dollar Tree opened in 2022, has options until 2051 with rent increases
  • Offered at $6.25M ($62 per square foot) with current base rent of $488K, which is expected to grow by $114K
  • $800k invested in the center, including the new roof
  • Marble City Pharmacy at the center since 2003 expanded space, added a drive-through with 40% increase in 2028 (lease until 2032)
  • Family Health at the center since 2005 extended their lease until 2035 with 2% annual rent increase from 2026
  • $10B annual revenue company, Ace Hardware, with 5,828 stores opened at the center in 2023, has extension options until 2047 with rent increases
  • 380 unit strong Badcock Furniture has been at the Center since 1999, recently extended for 5 more years with 3% annual rent increases
  • Meat Depot by Fresh Value (14 units in AL) paying only $3.47 annual rent per square foot

Investment Overview

Olgetree Plaza @ Sylacauga is a 101,247 square feet neighbourhood community Center located along the W Fort Williams Street in Sylacauga, Alabama. Anchored by Dollar Tree, Meat Depot, Ace Hardware and Badcock Furniture, the center is located at a signalized intersection with excellent access and visibility. The offering sits on 6.51 acres just two blocks north of Coosa Medical Center, the area’s largest employer which serves five contiguous counties with a total population of 62,000. The property benefits from being close to majority of Sylacauga’s residents and main economic drivers. West Fort Williams Street serves as an access road to U.S. Highway 280, which brings 25,000 vehicles into the immediate area daily. The property is offered at a price of $6,250,000 ($62 per square foot) with current base rent of $488,192 which could increase to $602,432 with all vacancies filled. Diverse tenant mix of grocery, home improvement, discount store, medical clinic, pharmacy, beauty supply, and a busy quick service restaurant (out parcel not included in the sale), synergizes to benefit the Neighbourhoods.

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

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