1605 Ashville Rd Leeds, AL 35094

This 57,023 square foot shopping center in Leeds, Alabama, presents a compelling investment or owner-occupant opportunity. Currently operating as a thriving 100% occupied flea mall with 400 tenants, this single-story, 1983-built property (renovated in 2013) boasts a strong 8.92% cap rate and a substantial NOI of $321,000. Situated on a 5.1-acre lot with ample parking (300 spaces per 1,000 sq ft), the property benefits from excellent visibility and accessibility, located near major roadways (Hwy 411 and I-20), and within close proximity to Birmingham-Shuttleworth Airport and downtown Birmingham. The property features LED lighting and updated HVAC and roofing systems. The asking price is $3,600,000, translating to $63.13 per square foot. The established flea mall operation has a proven track record of over 15 years, generating income through booth rentals and a percentage of sales. A potential pad site in the front parking lot offers additional development possibilities. This Class B retail property, zoned C, presents a rare opportunity in a rapidly growing market with low retail vacancy. The property is offered fee simple with a gross lease structure. The current tenant mix consists of 400 individual tenants, and there is an experienced management team in place.