Billingsley Promenade Shopping
For Sale
Contact for pricing
3441 Malcolm Dr, Montgomery, AL 36116
PUD-zoned retail center with established occupants near Auburn University Montgomery, Baptist Medical Center, and nearby office parks.
Property Size18,720 SF
Price / SF$186.97
Days on Market178
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Property Features for 3441 Malcolm Dr
General Information
Standard status
Active
Size
18,720 SF
Property subtype
Retail
Zoning
PUD
Occupancy
85%
Lease Type
NNN
Building Details
Year Built
2008
Buildings
1
Stories
1
Units
8
Tenancy
Multi
Listing Agency:
Professional Property Advisors
Listed By:
Harry Lancz · License #LA Brok.995691162
Source:
Crexi
Added: Apr 21
Changed: Oct 14
Last Checked: Oct 14 at 9:21PM
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 Professional Property Advisors
Investment Insights
Based on property information with market context.
Billingsley Promenade is an 18,720-square-foot shopping center completed in 2008 and zoned PUD. The tenant roster includes Tipico de Mexico, Mathnasium, Pearl Massage, and Rosie's Nails, with occupancy histories extending more than 15 years for Tipico de Mexico, since 2012 for Mathnasium, since 2017 for Pearl Massage, and since 2009 for Rosie's Nails.
The property is located at 3441 Malcolm Dr in Montgomery, Alabama, near Auburn University Montgomery, Baptist Medical Center, and several office parks. These nearby institutional and employment destinations provide surrounding daytime activity for the retail center.
The property is located at 3441 Malcolm Dr in Montgomery, Alabama, near Auburn University Montgomery, Baptist Medical Center, and several office parks. These nearby institutional and employment destinations provide surrounding daytime activity for the retail center.
Key Highlights
- 18,720‑square‑foot shopping center completed in 2008
- PUD zoning designation
- Tipico de Mexico has occupied the center for more than 15 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$207,819
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,156,380
$4.2M
Cap Rate 7%
$2,968,843
$3.0M
Cap Rate 9%
$2,309,100
$2.3M
Market Conditions
NOI Build-Up for 18,720 SF
Gross rent
$314.5K $16.80/SF
− Vacancy
−$17.6K −$0.94/SF
EGI
$296.9K $15.86/SF
− OpEx
−$89.1K −$4.76/SF
NOI
$207.8K $11.10/SF
Area
Montgomery, AL
Vacancy
5.60%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,156,380
Cap Rate 7%
$2,968,843
Cap Rate 9%
$2,309,100
Alternative Uses
Best Use
Retail
$2.97M
$2.60M – $3.46M
NOI $207,819 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.88M
$3.40M – $4.53M
NOI $271,725 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
350k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 38%
Groceries 22%
Home Improvements & Furnishings 2%
Publix
Groceries
47,655 visits/mo
0.3 miles
McDonald's
Dining
32,479 visits/mo
0.5 miles
Winn-Dixie
Groceries
30,480 visits/mo
0.4 miles
Circle K
Shops & Services
29,263 visits/mo
0.5 miles
MAPCO Mart
Shops & Services
25,368 visits/mo
0.4 miles
Demographics for 36116, AL
43,840
Population
20,007
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
91%
High-School Grad
53.4 sq mi
ZIP Area
821
Density / Sq Mi
$53,973
Median Household Income
$33,039
Median Earnings
$1,056
Median Rent
$137,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Montgomery, AL
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Frequently Asked Questions
What type of property is this?
Shopping center - PUD-zoned retail center with established occupants near Auburn University Montgomery, Baptist Medical Center, and nearby office parks.
Where is this shopping center located?
The property is located at 3441 Malcolm Dr Montgomery, AL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 18,720‑square‑foot shopping center completed in 2008; PUD zoning designation; Tipico de Mexico has occupied the center for more than 15 years
