Shopping Neighborhood

Weiss Lake Plaza

1470 W Main St, Centre, AL 35960

Listing Price: $2,340,000

Cap Rate
10.43%
Gross SF
99,450
Rentable SF
99,450
Price/Gross SF
$23.53
Lot Size
9.00 acres
Year Built
1988

Investment Overview

Marcus & Millichap is pleased to exclusively offer Weiss Lake Plaza located in Centre, Alabama. The property is strategically positioned on the north side West Main Street, Centre’s primary retail node. Centre is the county seat for Cherokee County and is part of the Gadsden Alabama MSA. This offering is comprised of three lots housing three buildings totaling±9.00 acres and ±99,450 square feet of gross leasable area. Based on a conservative analysis, the subject is offered under replacement cost at $23.88 per square foot with a generous return capitalized at just less than a 10-percent. Ownership has meticulously maintained the property with recent capital improvements including a new roof, parking lot stripe & seal and fresh paint.

Investment Highlights

  • Excellent Value Add Opportunity | Currently 91.4-percent occupied with average rents more than 55-percent below market averages
  • COVID / E-Commerce Resistant Roster | Grocery anchored retail center with GSA and many necessity supporting tenants
  • Recent Capital Improvements | Parking lot striped & sealed, fresh exterior paint and roof replaced on the inline retail center
  • Intrinsic Value | Priced significantly below replacement cost at $23.53 per square foot

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    License(s): AL: 0000882980

    Alabama

Shopping Neighborhood

Weiss Lake Plaza

Listing Price: $2,340,000

Cap Rate
10.43%
Gross SF
99,450
Rentable SF
99,450
Price/Gross SF
$23.53
Lot Size
9.00 acres
Year Built
1988

Investment Highlights

  • Excellent Value Add Opportunity | Currently 91.4-percent occupied with average rents more than 55-percent below market averages
  • COVID / E-Commerce Resistant Roster | Grocery anchored retail center with GSA and many necessity supporting tenants
  • Recent Capital Improvements | Parking lot striped & sealed, fresh exterior paint and roof replaced on the inline retail center
  • Intrinsic Value | Priced significantly below replacement cost at $23.53 per square foot

Investment Overview

Marcus & Millichap is pleased to exclusively offer Weiss Lake Plaza located in Centre, Alabama. The property is strategically positioned on the north side West Main Street, Centre’s primary retail node. Centre is the county seat for Cherokee County and is part of the Gadsden Alabama MSA. This offering is comprised of three lots housing three buildings totaling±9.00 acres and ±99,450 square feet of gross leasable area. Based on a conservative analysis, the subject is offered under replacement cost at $23.88 per square foot with a generous return capitalized at just less than a 10-percent. Ownership has meticulously maintained the property with recent capital improvements including a new roof, parking lot stripe & seal and fresh paint.

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    License(s): AL: 0000882980

    Alabama

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