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Shopping Strip

Jacksonville Crossing

1555 Pelham Rd S, Jacksonville, AL 36265

Listing Price: $5,427,000

Cap Rate
8.00%
Gross SF
56,401
Rentable SF
56,401
Price/Gross SF
$96.22
Lot Size
5.12 acres
Year Built
1980

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a value-add, 56,401-square-foot, multi-tenant retail center in Jacksonville, Alabama. Jacksonville Crossing is currently 67 percent occupied, and all leases are triple-net. Anchored by a new 10-year lease with Five Below, the center features a strong tenant base with a complementary mix of national and local retailers including Dollar Tree, Baja California Grill, Cricket Wireless, Workout Anytime, Nail Salon & Spa, and Amanda Davis, DMD. Dollar Tree is ranked in the Top 99th percentile in the United States and is the top store in the State of Alabama compared to other Dollar Tree locations, based on consumer traffic (source: Placer Labs Inc.). Dollar Tree and Baja California Grill have been in the center for over 13 years. Originally constructed in 1980, the building is situated on a large 5.12-acre lot with ample parking. Seller reports a new roof was installed on the building in 2020.

The subject property is located on Pelham Road South near the signalized intersection with George Douthit Drive SW. The main access to the center from Pelham Road South has traffic counts of approximately 26,600 vehicles per day. Jacksonville Village is shadow-anchored by Walmart Supercenter and near other national retailers including Wells Fargo Bank, Taco Bell, AT&T, Sonic Drive-In, CVS, Red Roof Inn, and others. The property is in close proximity to Jacksonville State University Health Center, the primary health care facility operated by a joint partnership with Northeast Alabama Regional Medical Center. The city is home to Jacksonville State University, with an enrollment of approximately 9,540 students and 360 faculty and staff members.

Investment Highlights

  • 56,401-Square-Foot, Multi-Tenant Retail Center | Shadow-Anchored by Walmart Supercenter
  • 67% Occupied | All Leases are Triple-Net | Upside Potential in Leasing Vacant Space (18,883 Square Feet of Potential Storage/Warehouse Space) | Pro Forma Cap Rate is 9.74%
  • Strong Tenant Base Anchored by New 10-Year Lease with Five Below | Other Tenants are a Complementary Mix of National and Local Retailers
  • Dollar Tree at this Location is Ranked in the Top 99th Percentile in the United States and is the Top Ranked Store in the State of Alabama, Compared to other Dollar Tree Stores Based on Consumer Traffic (source: Placer Labs Inc.)
  • Seller Reports a New Roof was Installed in 2020 with a 15-Year Limited Warranty

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Shopping Strip

Jacksonville Crossing

Listing Price: $5,427,000

Cap Rate
8.00%
Gross SF
56,401
Rentable SF
56,401
Price/Gross SF
$96.22
Lot Size
5.12 acres
Year Built
1980

Investment Highlights

  • 56,401-Square-Foot, Multi-Tenant Retail Center | Shadow-Anchored by Walmart Supercenter
  • 67% Occupied | All Leases are Triple-Net | Upside Potential in Leasing Vacant Space (18,883 Square Feet of Potential Storage/Warehouse Space) | Pro Forma Cap Rate is 9.74%
  • Strong Tenant Base Anchored by New 10-Year Lease with Five Below | Other Tenants are a Complementary Mix of National and Local Retailers
  • Dollar Tree at this Location is Ranked in the Top 99th Percentile in the United States and is the Top Ranked Store in the State of Alabama, Compared to other Dollar Tree Stores Based on Consumer Traffic (source: Placer Labs Inc.)
  • Seller Reports a New Roof was Installed in 2020 with a 15-Year Limited Warranty

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a value-add, 56,401-square-foot, multi-tenant retail center in Jacksonville, Alabama. Jacksonville Crossing is currently 67 percent occupied, and all leases are triple-net. Anchored by a new 10-year lease with Five Below, the center features a strong tenant base with a complementary mix of national and local retailers including Dollar Tree, Baja California Grill, Cricket Wireless, Workout Anytime, Nail Salon & Spa, and Amanda Davis, DMD. Dollar Tree is ranked in the Top 99th percentile in the United States and is the top store in the State of Alabama compared to other Dollar Tree locations, based on consumer traffic (source: Placer Labs Inc.). Dollar Tree and Baja California Grill have been in the center for over 13 years. Originally constructed in 1980, the building is situated on a large 5.12-acre lot with ample parking. Seller reports a new roof was installed on the building in 2020. The subject property is located on Pelham Road South near the signalized intersection with George Douthit Drive SW. The main access to the center from Pelham Road South has traffic counts of approximately 26,600 vehicles per day. Jacksonville Village is shadow-anchored by Walmart Supercenter and near other national retailers including Wells Fargo Bank, Taco Bell, AT&T, Sonic Drive-In, CVS, Red Roof Inn, and others. The property is in close proximity to Jacksonville State University Health Center, the primary health care facility operated by a joint partnership with Northeast Alabama Regional Medical Center. The city is home to Jacksonville State University, with an enrollment of approximately 9,540 students and 360 faculty and staff members.

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

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