Skip to main content

Shopping Strip

Island Road Shopping Center

5830 US-90, Theodore, AL 36582

Listing Price: $5,225,000

Cap Rate
7.75%
Gross SF
59,704
Rentable SF
59,704
Price/Gross SF
$87.52
Lot Size
6.25 acres
Year Built
1984

Investment Overview

ISLAND ROAD SHOPPING CENTER
• The subject property is a 100% leased 59,704 SF Winn Dixie anchored retail center in Theodore, AL
• The Roof was replaced in 2021 and has a 20 year warranty
• Seasoned Tenant Lineup | Average tenant tenure: 32.5 years
• Leasing Momentum | New 10 year corporate AutoZone Lease

WINN DIXIE ANCHOR
• Island Road Shopping Center is anchored by a 46,422 SF Winn Dixie grocery store
• This location was part of the acquisition by C&S Groceries (Former Southeastern Grocers) to Aldi
• Aldi plans to invest $2B into Southeastern infrastructure and recently opened a 564,000 SF distribution center less than 35 minutes from this location
• Winn Dixie has been at this location for over 40 years, originally occupying the space in in 1984
• Base rent to sales ratio of 3.14% | Sales of $10.8M

DOMINANT HIGH TRAFFIC GROCER
• Limited Competition | No other national grocers in a 2.5 mile radius
• Property is located just off high traffic interstate I-10 (84,330 VPD)
• The property sits at an intercept location at Government Blvd (21,476 VPD) & Theodore Dawes Rd (14,856 VPD)

COASTAL AL MARKET | MOBILE MSA
• Island Road Shopping Center is positioned in the Mobile MSA which is the thir
largest MSA in the state
• Theodore is located 15 minutes southeast of downtown Mobile and is located off I-10 (84,330 VPD)
• Mobile is the fourth most populous city in AL with over 205,000 residents.
• The Port of Mobile is the 12th largest port in the US, handling an excess of 55 million tons of cargo annually and generates 313,000 jobs per year.
• Mobile Aeroplex at Brookley is the largest industrial transportation complex in the region with approximately 70 companies and 3,600 employees.

Investment Highlights

  • 40+ Year Winn Dixie Anchor
  • Top Grocery Store In 3 MI Radius
  • Seasoned Tenant Lineup | Average Tenant Tenure: 32.5 Years
  • New 10 Year AutoZone Lease
  • High Traffic Intersection 36K VPD
  • Mobile MSA 3rd Largest MSA In AL

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Financing By

Shopping Strip

Island Road Shopping Center

Listing Price: $5,225,000

Cap Rate
7.75%
Gross SF
59,704
Rentable SF
59,704
Price/Gross SF
$87.52
Lot Size
6.25 acres
Year Built
1984

Investment Highlights

  • 40+ Year Winn Dixie Anchor
  • Top Grocery Store In 3 MI Radius
  • Seasoned Tenant Lineup | Average Tenant Tenure: 32.5 Years
  • New 10 Year AutoZone Lease
  • High Traffic Intersection 36K VPD
  • Mobile MSA 3rd Largest MSA In AL

Investment Overview

ISLAND ROAD SHOPPING CENTER • The subject property is a 100% leased 59,704 SF Winn Dixie anchored retail center in Theodore, AL • The Roof was replaced in 2021 and has a 20 year warranty • Seasoned Tenant Lineup | Average tenant tenure: 32.5 years • Leasing Momentum | New 10 year corporate AutoZone Lease WINN DIXIE ANCHOR • Island Road Shopping Center is anchored by a 46,422 SF Winn Dixie grocery store • This location was part of the acquisition by C&S Groceries (Former Southeastern Grocers) to Aldi • Aldi plans to invest $2B into Southeastern infrastructure and recently opened a 564,000 SF distribution center less than 35 minutes from this location • Winn Dixie has been at this location for over 40 years, originally occupying the space in in 1984 • Base rent to sales ratio of 3.14% | Sales of $10.8M DOMINANT HIGH TRAFFIC GROCER • Limited Competition | No other national grocers in a 2.5 mile radius • Property is located just off high traffic interstate I-10 (84,330 VPD) • The property sits at an intercept location at Government Blvd (21,476 VPD) & Theodore Dawes Rd (14,856 VPD) COASTAL AL MARKET | MOBILE MSA • Island Road Shopping Center is positioned in the Mobile MSA which is the thir largest MSA in the state • Theodore is located 15 minutes southeast of downtown Mobile and is located off I-10 (84,330 VPD) • Mobile is the fourth most populous city in AL with over 205,000 residents. • The Port of Mobile is the 12th largest port in the US, handling an excess of 55 million tons of cargo annually and generates 313,000 jobs per year. • Mobile Aeroplex at Brookley is the largest industrial transportation complex in the region with approximately 70 companies and 3,600 employees.

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

Financing By

MM Texture Background
MM Textured Background Lower