Property Listing No Longer Available for Sale

505 Highway 80 West, Demopolis, AL

Retail for Sale - $2,625,000 - 64,275 Sq. Ft. on 10.12 acres


Property Info

CIMLS#68597
Location
  505 Highway 80 West
  Demopolis AL 36732
UpdatedNovember 14th, 2008
TypeRetail
Price$2,625,000
Building64,275 Sq. Ft.
Land10.12 acres

Property Description

Demopolis Towne Center is an attractive neighborhood retail center located on US Hwy 80W, approximately 120 miles from Birmingham and 100 miles from Montgomery. It is one of the nicest centers in the region. Located near the new super Wal-Mart, Holiday Inn Express and regional hospital, Demopolis Towne Center fills the retail gap for shoppers who would otherwise drive to Birmingham, Montgomery or Tuscaloosa. Quality tenants, including Fred’s, Peebles, Citi Trends and Hibbett Sports, have new leases with only one 1400+ sq ft vacancy remaining. This 60K+ sq ft center, situated on 10+ acres, offers an 8.6% cap rate on existing revenues, a 11.4% first year cash on cash return and has great assumable financing of 6.17%. Upside opportunity exists by renting the vacant retail suite and rear non-retail space. This center is a dominant player in the region and a solid long term play for any investor.

Nancy Miller

404-876-1640 ext. 118

nancy@bullrealty.com