Current Use by Public Records
- Lifestyle centers
Property Details for 20 Broadway Ave
- Lot size
- 1.74 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a 28,515 square foot retail center in Sylacauga, Alabama, boasting a 100% occupancy rate and a strong NOI of $148,459, yielding a 7.05% cap rate. The property is anchored by a Family Dollar, a BBB-rated investment-grade tenant with a 20+ year presence, ensuring stability and a high likelihood of lease renewal. The center features six tenants in total, generating substantial foot traffic. Situated on a 1.74-acre lot, the property offers ample parking (approximately 90 spaces), providing one space per 315 square feet. Its prime location on Broadway Avenue offers excellent visibility and accessibility, with two entry points and a center turn lane, benefiting from high traffic volume exceeding 10,000 vehicles per day – over 80% of Sylacauga's 12,500 residents. The property's land value is exceptionally priced at $74 per square foot, significantly below the market average of $130. This is further supported by its proximity to over 6,500 homes within a 3-mile radius and a strong retail corridor featuring national tenants such as Walgreens, Arby's, and AutoZone within a half-mile. The asking price for this well-positioned, high-performing retail center is $2,105,803. This represents a compelling investment opportunity with significant potential for future growth and return.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sylacauga
- County
- Talladega
- State
- Alabama
- Longitude
- -86.25
- Latitude
- 33.1679
