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    24540 John T Reid Pkwy Scottsboro, AL 35768
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    24540 John T Reid Pkwy, Scottsboro, AL 35768

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    • Retail space
    • 77,328 SF
    For Sale
    View Listing →
    Retail Center Anchored by Publix For Sale
    Contact for pricing
    77,328 SF

    Retail Center Anchored by Publix

    Retail property with Publix and TJX as anchor tenants.

    24540 John T Reid Pkwy, Scottsboro, AL 35768
    View Listing
    Property ID
    US03-1931185
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Western Union / Bank / Credit Union
    • Mavis Tires & Brakes / (Bike/Boat/Book/etc) Store / Auto Parts Store
    • Publix Super Market at Scottsboro / Specialty Food Shop / Supermarket
    • The Shops of Scottsboro / Shopping Center & Mall
    • T.J. Maxx / Department Store

    Property Details for 24540 John T Reid Pkwy

    Year built
    2021
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    Undergoing Parcelization

    Description

    This exceptional retail investment opportunity presents the Shops of Scottsboro, a 77,328 square foot, multi-tenant property located at 24540 John T Reid Pkwy, Scottsboro, AL 35768. Boasting a 100% occupancy rate and a strong NOI of $1,072,266, this center offers a compelling 6.25% cap rate on an asking price of $17,156,000 ($221.86/sq ft). The property features a diverse mix of six tenants, including prominent anchors Publix and TJ Maxx, operating under primarily NNN leases, minimizing expense leakage for the owner. Built in 2021, the center benefits from a state-of-the-art design and ample parking (392 spaces). Its strategic location at a signalized, hard corner intersection of John T. Reid Parkway and State Highway 35, with high daily traffic volume (over 51,000 vehicles), ensures excellent visibility and accessibility. The property is situated across from Scottsboro Marketplace, further enhancing its appeal and drawing from a strong retail trade area supported by over 127,000 residents and 37,000 daytime employees within a 25-mile radius, boasting an average household income exceeding $79,000. The property is zoned C-4 Regional Commercial and is offered as a fee simple interest (land and building ownership). The APN is undergoing parcelization. This investment presents a rare opportunity to acquire a high-performing, well-located retail center in a thriving market within the Huntsville MSA.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Scottsboro
    County
    Jackson
    State
    Alabama
    Longitude
    -86.0152352
    Latitude
    34.6660244

    Comparable in this City

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      24540 John T Reid Pkwy, Scottsboro, AL 35768
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      Established Automotive Repair Shop

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      77,328 SF

      Retail Center Anchored by Publix

      Retail property with Publix and TJX as anchor tenants.
      24540 John T Reid Pkwy, Scottsboro, AL 35768
      View Details
    • Contact for pricing

      Scottsboro Land For Sale

      2.50 acres of commercial land with great visibility.
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      Scottsboro Commercial Land For Sale

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    Similar Nearby for Sale

    • Contact for pricing

      New Retail Center For Sale

      New Publix & TJMaxx-anchored shopping center in Northeast Alabama.
      24540 John T Reid Pkwy, Scottsboro, AL 35768
      View Details
    • $95,000
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      Established Automotive Repair Shop

      Automotive repair shop for sale in Scottsboro, Alabama.
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      77,328 SF

      Retail Center Anchored by Publix

      Retail property with Publix and TJX as anchor tenants.
      24540 John T Reid Pkwy, Scottsboro, AL 35768
      View Details
    • Contact for pricing

      Scottsboro Land For Sale

      2.50 acres of commercial land with great visibility.
      00 Clark St, Scottsboro, AL 35768
      View Details
    • $309,000
      6.00 Acres

      Scottsboro Commercial Land For Sale

      6+- acre commercial property with frontage on Broad Street.
      2904 S Broad St, Scottsboro, AL 35768
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    • $150,000
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      Commercial Property in Scottsboro, AL

      Commercial property featuring a large front room and office spaces.
      1608 S Broad St, Scottsboro, AL 35768
      View Details

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      Scottsboro Office Building For Lease

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      Office Building with Industrial Kitchen

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    Property Visit Statistics

    • Visits by month
      56.9k
    • Visitors by month
      31.8k
    • Avg Time on site
      25 min
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    Scottsboro, AL 35768
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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