1702-1796 Carter Hill Rd Montgomery, AL 36106
- Lifestyle centers
- 67,662 SF
- 4.80 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 1702-1796 Carter Hill Rd
- Year built
- 1991
- Lot size
- 4.80 lot acres
- Property size
- 67,662 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional retail investment opportunity, located at 1702-1796 Carter Hill Road in Montgomery, Alabama, presents a compelling case for investors seeking strong returns. The 67,662 square foot center sits on a 4.8-acre lot and boasts 3 buildings constructed in 1991, featuring 350 parking spaces. Currently 86.26% occupied, the property includes 17 units and is anchored by a Winn-Dixie, representing over 53% of total rent. The property benefits from a corporate guaranteed lease with a remaining term of 5 years, offering stability and security. The current Net Operating Income (NOI) stands at $453,869, yielding a 7.15% cap rate, with an asking price of $6,347,800 ($93.82/sq ft). The property's prime location, just blocks from Alabama State University (nearly 4,000 students), Huntingdon College (1,100 students), and Montgomery Academy (805 students), ensures high foot traffic and visibility. Its proximity to I-85 (115,800 vehicles per day), Jackson Hospital, and major retail centers further enhances its appeal. The property offers potential upside through leasing up approximately 14% of vacant space, immediately increasing NOI. Detailed lease options and rent bump information are available upon request. This is a rare opportunity to acquire a well-positioned, multi-tenant retail center in a thriving Montgomery, Alabama market.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Montgomery
- County
- Montgomery
- State
- Alabama
- Longitude
- -86.2842
- Latitude
- 32.3585
