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    2540 Eastern Blvd Montgomery, AL 36117

    Sponsored
    For Sale
    $15,400,000

    High-Yield Shopping Center in Montgomery, AL

    Property size:
    221,065 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 221,065 square foot shopping center in Montgomery, Alabama, presents a compelling investment opportunity. Boasting a 7.14% cap rate and a pro-forma cap rate of 8.07%, the property offers significant upside potential. Currently 89.82% occupied, the center features 21 tenants, including national brands like Ollie's, Guitar Center, Dollar Tree, and Rainbow. The property benefits from a prime location at a heavily trafficked intersection on Eastern Boulevard. Recent renovations (2021 & 2022) encompass roof replacement, parking lot improvements, and landscaping enhancements. The stabilized investment features a Net Lease (NNN) structure and a strong Net Operating Income (NOI) of $1,099,788, projected to increase to $1,242,288. A key asset is Floor & Decor's 15-year lease. The property, built in 1990, sits on a 21.12-acre lot and is priced at $15,400,000 ($69.66/sq ft). One junior box vacancy and below-market rents offer further growth opportunities. This multi-tenant retail center represents a rare chance to acquire a well-positioned, high-performing asset with substantial future income potential. The property's strong tenant mix, recent renovations, and prime location make it an attractive investment for discerning buyers.

    Property Features for 2540 Eastern Blvd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    221,065 SF
    Lot Size
    919,987 SF

    Building Details

    Year Built
    1990

    HighLights

    • Floor & Decor: 15‑year NNN lease.
    • National credit tenant occupancy.
    • Significant upside potential for future rent growth.
    • High‑traffic intersection location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Montgomery
    State
    Alabama
    Longitude
    -86.22459
    Latitude
    32.347099

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    FAQs

    What type of property is this?
    Lifestyle center - High-Yield Shopping Center in Montgomery, AL
    Where is this lifestyle center located?
    The property is located at 2540 Eastern Blvd Montgomery, AL.
    What is the asking price?
    The asking price for this property is $15,400,000.
    What are key features of this property?
    This property features: Floor & Decor: 15-year NNN lease.; National credit tenant occupancy.; Significant upside potential for future rent growth.
    Request Owner's contact information
    2540 Eastern Blvd Montgomery, AL 36117
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2540 Eastern Blvd Montgomery, AL 36117
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