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Building Details

Year Built 1985

Tenancy Multi

Listing Agency: Main Street Realty Plus, LLC

Listed By: Gabe Henderson · License #HG10715 Show Phone

Source: Homeslegend

Added: Aug 23 Changed: Oct 13 Last Checked: Oct 12 at 5:22PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Main Street Realty Plus, LLC

Investment Insights

Based on property information with market context.

This 37,500±-square-foot shopping center at 100 Elizabeth Street in Boaz, Alabama, is configured for multiple commercial occupants. The building was constructed in 1985 and is currently occupied by six tenants, providing an established operating structure within the property.

The multi-tenant format supports separate leasing arrangements across the building and offers flexibility for continued commercial occupancy. Its substantial size and existing tenant base make the property suitable for buyers seeking an operating retail asset with multiple occupant spaces.

Key Highlights

• 37,500± SF commercial shopping center
• Currently occupied by six tenants
• Multi‑tenant configuration with separate occupant spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$239,227

Cap Rate

7.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,784,540 $4.8M

Cap Rate 7%

$3,417,529 $3.4M

Cap Rate 9%

$2,658,078 $2.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 37,500 SF

Gross rent

$373.5K $9.96/SF

− Vacancy

−$31.7K −$0.85/SF

EGI

$341.8K $9.11/SF

− OpEx

−$102.5K −$2.73/SF

NOI

$239.2K $6.38/SF

Area

Marshall County, AL

Vacancy

8.50%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,784,540

Cap Rate 7%

$3,417,529

Cap Rate 9%

$2,658,078

Alternative Uses

Best Use

Retail

$3.42M

$2.99M – $3.99M (±1% cap)

NOI $239,227 @ 7.0% cap · market cap 7.97%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$8.09M

$7.08M – $9.44M (±1% cap)

NOI $566,568 @ 7.0% cap · market cap 18.89%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

The Snead State Book ... (Bike/Boat/Book/etc) Store 19th Hole Golf Bar & Pub Al First Massage Alternative Medicine Practice Alabama Firearms Academy (Bike/Boat/Book/etc) Store Morgan House Delicatessen Food Market

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Dental Office Law Firm HVAC Service Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

585

Businesses Nearby

18k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 100%

Taco Bell Dining

17,880 visits/mo 0.5 miles

Demographics for 35957, AL

16,849

Population

6,755

Households

2.5

Avg Household Size

36

Median Age

13%

College-Educated

85%

High-School Grad

78.3 sq mi

ZIP Area

215

Density / Sq Mi

$53,859

Median Household Income

$35,277

Median Earnings

$679

Median Rent

$142,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Shopping center - Occupied commercial property with a diversified tenant configuration and established leasing activity.

Where is this shopping center located?

The property is located at 100 Elizabeth Street Boaz, AL.

What is the asking price?

The asking price for this property is $3,000,000.

What are key features of this property?

This property features: 37,500± SF commercial shopping center; Currently occupied by six tenants; Multi‑tenant configuration with separate occupant spaces