7701 Eastchase Pkwy Montgomery, AL 36117-6877
- Retail space
- 30,077 SF
- 8.53 lot acres
Current Use by Public Records
- Geek Squad / Television Repair Service / Mobile Phone Repair Shop
- Best Buy / Appliance Store / Computer Store
Property Details for 7701 Eastchase Pkwy
- Year built
- 2019
- Lot size
- 8.53 lot acres
- Property size
- 30,077 SF
- Zone code
- PUD
- Property type
- Retail space
- APN
- 09-05-16-4-000-004.000
- APU
- 905164000004000
Description
This exceptional investment opportunity presents a fee-simple ownership of a 65,000 square foot, two-tenant retail center in Montgomery, Alabama. Anchored by Best Buy and Burlington Coat Factory, both investment-grade tenants, the property boasts a 100% occupancy rate with six years remaining on their initial 10-year leases. Each tenant holds multiple five-year options to extend their lease, ensuring long-term stability and predictable income. The property features scheduled rent bumps throughout the initial lease term and at the start of each option period, providing a hedge against inflation and steadily increasing net operating income (NOI). The net lease structure minimizes landlord responsibilities, making this an ideal low-management investment. The property enjoys a prime location on Eastchase Parkway, a major retail corridor with high visibility from Interstate 85. Its strategic placement adjacent to a Costco-anchored center and across from a Target-anchored center further enhances its appeal. The center benefits from strong demographics, with a 5-mile trade area encompassing over 91,000 residents and an average household income exceeding $94,000. The property includes 312 parking spaces and sits on an 8.53-acre lot. Built in 2019, the single-story, two-building property offers a $951,111 NOI and a 6.60% cap rate, with an asking price of $14,400,000 ($216 per square foot). The property's strong tenant lineup, favorable lease terms, and prime location make it a compelling investment opportunity. The property is zoned O-2: Office Park. An interest-only loan at a fixed rate of 3.68% is assumable.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $11,525,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $13,170,000
- 6.5%
- $14,635,000
- 7%
- $14,570,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $12,600,000
- Geo Method
- $13,860,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $14,330,000
- Retail
- $12,190,000
- Mixed-Use
- $12,375,000
- Hospitality
- $14,420,000
- Educational
- $13,110,000
- Residential Income
- $14,430,000
- Energy
- $13,445,000
- Income-Based Land
- $14,865,000
- Food Service
- $14,905,000
Location Insight
- Map
- Local Demand
- City
- Montgomery
- County
- Montgomery
- State
- Alabama
- Longitude
- -86.1568
- Latitude
- 32.3626
- CBSA code
- 33860
- CBSA name
- MONTGOMERY, AL METROPOLITAN STATISTICAL AREA
