2405 Highway 78 Jasper, AL 35501

Property Details for 2405 Highway 78

Year built

1991

Lot size

7.10 lot acres

Property size

69,700 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional Class A, 69,700 square foot retail center in Jasper, Alabama, presents a compelling investment opportunity. Currently 91% occupied, the property boasts a strong tenant roster including Winn-Dixie (64% of current rental income), Aldi, Publix, Target, Walmart, Albertsons, Trader Joe's, Harveys, Aaron's, Drayer Physical Therapy, ALFA Insurance, Advance America, and OneMain Financial. Tenants benefit from a prime location on Highway 78 E, enjoying excellent visibility and access with approximately 66,500 vehicles passing daily. The center's strategic location is further enhanced by its proximity to a Walmart Supercenter, Home Depot, Jasper Mall, and numerous other retail establishments, as well as Walker Baptist Medical Center and Jasper High School. The property features a single, one-story building on a 7.1-acre lot, constructed in 1991. Recent lease extensions with several key tenants demonstrate long-term stability. The current pro-forma NOI stands at $612,354, with an average rent of approximately $9.20 per square foot. A significant upside potential exists with 6,300 square feet (three units) currently vacant, offering immediate leasing opportunities to increase NOI. The investment is structured as a Net Lease (NNN) with credit-rated tenants and corporate guarantees, providing added security. Various lease options and rent bumps are available. This is a rare opportunity to acquire a well-positioned, high-performing retail center with a proven track record and significant growth potential.

Location Insight

City

Jasper

County

Walker

State

Alabama

Longitude

-87.2455

Latitude

33.8421