Shopping Regional
Helena Marketplace
335 Helena Marketplace, Helena, AL 35080
Listing Price: $7,767,000
Investment Overview
- Helena Marketplace is a 100% leased, 59,756 SF Walmart Neighborhood Market anchored center located in Helena, AL, which is approximately 20 miles south of downtown Birmingham
- Walmart Market is approximately 80% of the total GLA and has been a tenant since 2013- Walmart is currently paying a conservative, below market rent of $6.90/SF
- Walmart is expected to allocate approximately $4 million dollars for store renovation by year-end
- Per Placer.ai, this Walmart has approximately 1.2M visitors and ranks in the 67th percentile in the U.S. (219/681) and 64th percentile in Alabama (11/28)
- Walmart Inc. (NYSE: WMT) reported revenue of $648 Billion, net income of $15 Billion, and a net worth of $83 Billion as of January 31, 2024- over 10,600 locations in over 19 countries
- Strong tenant mix of retail and medical users such as Southern Immediate Urgent Care, Great Clips, All Original Pizza, and Infinity Nails- average rent/SF on shop tenants is under $22/SF
- Southern Immediate Care just exercised its option early bringing their Lease
expiration to December 2034, with no incentive provided
- Southern Immediate Care currently has 7 locations throughout Alabama
- Strong retail trade area- in the immediate area includes Publix, O’Reilly Auto Parts, McDonald’s (outparcel to Helena Marketplace), Walgreens, Dollar Tree, Taco Bell, Zaxby’s, and a newly developed Chick-fil-A, Freddy’s, AT&T, and Dunkin’ Donuts
- Strong demographic area- AHI in the 1-mile radius is over $94,000 and over $101,000 within 5 miles- nearly 80,000 residents within 5 miles with an expected growth rate of 5% over the next 5 years
- Helena ranks as one of the lowest crime rate cities per population in the U.S. and Business Week named Helena the 13th “Best Place to Raise Your Kids”
- The Birmingham MSA currently has a population of approximately 1.2 million residents with a projected growth rate of over 2.0% the next 5 years
- Diverse employment market- Birmingham has a strong manufacturing and steel industry in addition to a strong financial sector and health care- The University of Alabama at Birmingham is a leader in biotechnology and medical research
- Mercedes, Honda, and Hyundai all have production plants in the Birmingham MSA
- Large lot size of approximately 6.85 acres
- Conservative price/SF of $129/SF
Investment Highlights
- Helena Marketplace is a 100% leased, 59,756 SF Walmart Neighborhood Market anchored center located in Helena, AL, which is approximately 20 miles south of downtown Birmingham
- Walmart Market is approximately 80% of the total GLA and has been a tenant since 2013- Walmart is currently paying a conservative, below market rent of $6.90/SF
- Walmart is expected to allocate approximately $4 million dollars for store renovation by year-end
Broker of Record
Financing By
Listing Price: $7,767,000
Investment Highlights
- Helena Marketplace is a 100% leased, 59,756 SF Walmart Neighborhood Market anchored center located in Helena, AL, which is approximately 20 miles south of downtown Birmingham
- Walmart Market is approximately 80% of the total GLA and has been a tenant since 2013- Walmart is currently paying a conservative, below market rent of $6.90/SF
- Walmart is expected to allocate approximately $4 million dollars for store renovation by year-end
Investment Overview
- Helena Marketplace is a 100% leased, 59,756 SF Walmart Neighborhood Market anchored center located in Helena, AL, which is approximately 20 miles south of downtown Birmingham - Walmart Market is approximately 80% of the total GLA and has been a tenant since 2013- Walmart is currently paying a conservative, below market rent of $6.90/SF - Walmart is expected to allocate approximately $4 million dollars for store renovation by year-end - Per Placer.ai, this Walmart has approximately 1.2M visitors and ranks in the 67th percentile in the U.S. (219/681) and 64th percentile in Alabama (11/28) - Walmart Inc. (NYSE: WMT) reported revenue of $648 Billion, net income of $15 Billion, and a net worth of $83 Billion as of January 31, 2024- over 10,600 locations in over 19 countries - Strong tenant mix of retail and medical users such as Southern Immediate Urgent Care, Great Clips, All Original Pizza, and Infinity Nails- average rent/SF on shop tenants is under $22/SF - Southern Immediate Care just exercised its option early bringing their Lease expiration to December 2034, with no incentive provided - Southern Immediate Care currently has 7 locations throughout Alabama - Strong retail trade area- in the immediate area includes Publix, O’Reilly Auto Parts, McDonald’s (outparcel to Helena Marketplace), Walgreens, Dollar Tree, Taco Bell, Zaxby’s, and a newly developed Chick-fil-A, Freddy’s, AT&T, and Dunkin’ Donuts - Strong demographic area- AHI in the 1-mile radius is over $94,000 and over $101,000 within 5 miles- nearly 80,000 residents within 5 miles with an expected growth rate of 5% over the next 5 years - Helena ranks as one of the lowest crime rate cities per population in the U.S. and Business Week named Helena the 13th “Best Place to Raise Your Kids” - The Birmingham MSA currently has a population of approximately 1.2 million residents with a projected growth rate of over 2.0% the next 5 years - Diverse employment market- Birmingham has a strong manufacturing and steel industry in addition to a strong financial sector and health care- The University of Alabama at Birmingham is a leader in biotechnology and medical research - Mercedes, Honda, and Hyundai all have production plants in the Birmingham MSA - Large lot size of approximately 6.85 acres - Conservative price/SF of $129/SF
Broker of Record
-
Eddie Greenhalgh
Senior Vice President Investments
Financing By
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