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Property profile & analytics
FOR LEASE
Strip malls

3441 Malcolm Dr Montgomery, AL 36116

18,895 SF 2.07 ac lot Built 2007
Entity Owned 7-yr Hold Absentee Owner Free & Clear
Property ID
US03-0326447
Property summary
AI-generated overview

Billingsley Promenade offers a prime retail opportunity in a high-growth area of East Montgomery, Alabama. This Class B shopping center, built in 2008, totals 18,200 square feet and sits on a 2.07-acre lot at 3441 Malcolm Dr, Montgomery, AL 36116, conveniently located off Taylor Road near Averiett Drive and just two miles from Interstate 85. The property features a single building with 119 parking spaces and is zoned PUD. Currently, 3,443 square feet of retail space is available, divisible into 1,382 and 2,061 square foot units if needed. This location boasts excellent visibility and accessibility, benefiting from a strong demographic profile. Within a three-mile radius, there are 46,563 residents with an average household income exceeding $80,000, and a projected 5-year growth rate of 10.77%. Recent additions of new elementary and high schools further support the area's growth potential. This is an exceptional opportunity for businesses seeking a well-established location in a thriving community.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 2007
Total area 18,895 SF
Lot 2.07 ac (90,256 SF)
Zoning code PUD
APN 09-09-29-3-000-001.004
UPID US03-0326447
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Tipico De Mexico Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.29M
Blend (final) Blend
$1.70M
Owner & transaction history
Coleman Road Properties LLC · 7 yrs held
Coleman Road Properties LLC
since 2018
4 recorded transactions
2018
$900,000
2018
Price N/A
2015
$2.9M
1969
Price N/A
Zoning & alternative use
PUD · Montgomery, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

PUD Planned Unit Development Classes of structures permitted: Single-family dwellings. Residential structures containing two, three, or four family units. Apartments for any number of families. Townhouses. Classes of structures permitted with specific recommendation of the planning commission: Restaurants; stores selling food, general merchandise, apparel, f…

Zone name Planned Unit Development
General category PLANNED_DEVELOPMENT
Zone area 10,321.37 ac
Source code of ordinances
Top alternative use upside
Medical building $2.6M +76.6%
Retail stores $1.9M +26.6%
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More about this property
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