Saks Plaza (Grocery & Walgreens Anchored)

| Anniston | AL | 36201


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Property Details

  • Price: $ 3,711,525
  • Transaction Type: For Sale
  • Property Type: Retail
  • Building Size: 62,790 SF
  • Lot Size: 6.29 AC
  • Cap Rate: 8.00%
  • Year Built: 1983

Property Description

  • Low rent on Pic’nSav Cost Plus / Eagle Foods ($3.67 psf)
  • Walgreens just renewed for five years and rent to sales ratio is only 1.52% (all sales reported)
  • Rents have been kept low to maintain tenancy which is currently 100%
  • 62,790 sf on 6.29 acres with excellent visibility and 19,390 vehicles per day
  • 249 parking spaces and seven tenants with an average remaining lease term of approximately 4.2 Yrs.
  • Other tenants include Jennifer Nails, Marco’s Pizza, Check N Go, The Club Gym & Wells Fargo
  • Well maintained property with excellent tenant mix and historical occupancy
  • County Seat of Calhoun County located between Birmingham and Atlanta

HMX Realty Advisors presents for sale a grocery and drug store anchored shopping center in Anniston, Alabama, the County Seat. Walgreens just renewed for five additional years and guarantees the lease. The grocer, Pic’n Sav – Cost Plus / Eagle Foods rent is only $3.67 psf. Walgreens, which reports 100% of its sales, has a rent to sales ratio is only 1.52% and the lease has a corporate Walgreens guarantee. Other tenants in the shopping center include Jennifer Nails, Marco’s Pizza, Check N Go and The Club Gym, as well as a Wells Fargo ATM. Average remaining lease term is approximately 4.2 years all tenants included. There are no co-tenancy provisions however there is a restriction on pizza restaurants. Contact us for a detailed rent roll.

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Financial Summary

Investment Highlights

Price $3,711,525.00
Price / Unit $0.00
Gross Rent Multiplier 0.00
Proposed Loan Amount $0.00
Initial Investment $3,711,525.00

 

Income & Expenses

Income
Potential
Current

 

Expense
Potential
Current
Total Expenses
$ 0.00
$ 0.00
Net Operating Income$0.00$0.00
Less Debt Service$0$0
Potential Net Cash Flow$0.00$0.00
Cash on Cash Return0.00 %0.00 %
Capitalization Rate0.00 %0.00 %

Rent Roll

Unit
BR/BA
Current Monthly Rent
Potential Monthly Rent
Status
Lease Expires

Totals

$ 0.00

$ 0.00

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