Shopping Neighborhood
The Crossings of Decatur Outparcels
1213-1217 Point Mallard Pkwy, Decatur, AL 35601
Listing Price: $6,550,000
Cap Rate
6.00%
Gross SF
14,010
Rentable SF
14,010
Price/Gross SF
$467.52
Lot Size
3.08 acres
Year Built
2010
Investment Overview
Marcus & Millichap is pleased to present for sale The Crossings of Decatur Outparcels, located in Decatur, Alabama.
The Crossings of Decatur Outparcels
Investment Highlights
- Three Single-Tenant, Net-Leased Assets Leased to LongHorn Steakhouse, Regions Bank and AT&T | Diversified Income Stream Across Three Nationally Recognized Tenants
- Significantly Below-Market In-Place Rents — LongHorn at $18.35 per Square Foot and Regions at $29.02 per Square Foot | Enhances Rent Coverage and Offers Mark-to-Market Upside
- Two of Three Buildings/Tenants (75 Percent of Gross Leasable Area) on Absolute Triple-Net Ground Leases with Zero Landlord Roof/Structure Obligations
- Drastically Below-Market Longhorn Rent of $104,000 ($18.35 per Square Foot); Market Rents 75 Percent - 100 Percent Higher
- Regions Branch Reports $228 Million in Deposits | Largest Deposits for Non Headquarter or CBD Located Branch in the County
- Minimal Landlord Obligations | LongHorn and Regions Self-Maintain Their Respective Parcels; AT&T Parcel Maintained by Target Owner
- Strategically Positioned Among the Outparcel Pads at The Crossings of Decatur | Shadow-Anchored by Target
Broker of Record
-
Eddie Greenhalgh
Senior Managing Director Investments
Financing By
Shopping Neighborhood
The Crossings of Decatur Outparcels
Listing Price: $6,550,000
Cap Rate
6.00%
Gross SF
14,010
Rentable SF
14,010
Price/Gross SF
$467.52
Lot Size
3.08 acres
Year Built
2010
Investment Highlights
- Three Single-Tenant, Net-Leased Assets Leased to LongHorn Steakhouse, Regions Bank and AT&T | Diversified Income Stream Across Three Nationally Recognized Tenants
- Significantly Below-Market In-Place Rents — LongHorn at $18.35 per Square Foot and Regions at $29.02 per Square Foot | Enhances Rent Coverage and Offers Mark-to-Market Upside
- Two of Three Buildings/Tenants (75 Percent of Gross Leasable Area) on Absolute Triple-Net Ground Leases with Zero Landlord Roof/Structure Obligations
- Drastically Below-Market Longhorn Rent of $104,000 ($18.35 per Square Foot); Market Rents 75 Percent - 100 Percent Higher
- Regions Branch Reports $228 Million in Deposits | Largest Deposits for Non Headquarter or CBD Located Branch in the County
- Minimal Landlord Obligations | LongHorn and Regions Self-Maintain Their Respective Parcels; AT&T Parcel Maintained by Target Owner
- Strategically Positioned Among the Outparcel Pads at The Crossings of Decatur | Shadow-Anchored by Target
Investment Overview
Marcus & Millichap is pleased to present for sale The Crossings of Decatur Outparcels, located in Decatur, Alabama.
Broker of Record
-
Eddie Greenhalgh
Senior Managing Director Investments
Financing By
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