42950 US Highway 72, Stevenson, AL

Shopping Center for Sale - $1,300,000 - 36,860 Sq. Ft. on 3.88 acres


Agent Info

Alan Treadway
Marcus & Millichap

Property Info

CIMLS#1080080
Location
  42950 US Highway 72
  Stevenson AL 35772
UpdatedSeptember 2nd, 2020
TypeShopping Center
Price$1,300,000
Building36,860 Sq. Ft.
Land3.88 acres

Contact


Property Description

The Stevenson Plaza is a 36,600-square-foot strip shopping center in Stevenson, Alabama. The subject property is situated on four acres and is grocery anchored by a regional supermarket which has nearly 24,000 square feet of space and a five-year option to renew in May of 2024. The grocer, Bruce’s Foodland, has done extensive renovations to their space at their expense in the last five years. Other tenants include an auto parts store, a small loan company and seven 800-square-foot units around the building occupied by small retailers. US Highway 72 in Stevenson, where the center is located, has an average daily traffic count of over 13,000 vehicles per day. The Stevenson Plaza is positioned a short 35 miles from Chattanooga, Tennessee and less than 60 miles from Huntsville, Alabama.

Stevenson Plaza is a great investment opportunity with great occupancy history. In 2017, there were over $50,000 in renovations done to the center with upgrades such as a new façade, re-sealed parking lot and a new roof coating with a 20-year warranty. There is also a value-add opportunity in this center by leasing up the remainder of the vacant space.

Prime Investment Opportunity.

Only Grocer Over an Eight-Mile Radius.

Located on Main Thoroughfare.

Aggressive Cap Rate.

Great Return.

Major Recent Renovation.