The Shoppes at Theodore Dawes

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30725361
Property Subtypes: Street Retail
Status: Pending
Building Size (RSF): 8,000 SF
Gross Land Area: 1.12 Acres
Sale Price: $1,030,000
Unit Price: $128.75 PSF
Property Use Type: Investment
Building Name: The Shoppes at Theodore-Dawes
Usable Size (USF): 8,000 SF
Sale Terms: Cash to Seller
Cap Rate: 9.4%
Average Occupancy Rate: 100
Last Updated: 7/15/2021

Overview / Comments

Located adjacent to Walmart Neighborhood Market, The Shoppes at Theodore Dawes is a fully-leased community strip center positioned on approximately 1.12 acres. The property is easily accessible via I-10, and is in close proximity to regional and national businesses, including Rouses Market, Family Dollar, Advance Auto Parts, O’Reilly’s, Amazon, FedEx, Havertys, and the newly-announced 1,300-acre South Alabama Logistics Park.

The property is 100% leased to 8 tenants, with in-place NOI of approximately $96,605 – representing CAP rate of 9.4%. Area development is anticipated to fuel market growth and stability.

Attachments & Media

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $5,280 (Annual)
Potential Rental Income $121,040 (Annual)
Gross Operating Income $121,040 (Annual)
Net Operating Income $96,605 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Mobile
County: Mobile
Taxing Authority: Mobile County
Tax ID/APN: R023309314000033.
Zoning: COMMERCIAL
Retail Clientele: General, Family, Business
Property Located Between: Walmart Neighborhood Market and O'Reilly's
Property Visibility: Excellent
Largest Nearby Street: Theodore Dawes Road
Traffic/Vehicle Count: 23,000
Highway Access: Direct access from Theodore Dawes Road, approximately 7/10 mile from I-10
Site Description: The site consists of approximately 1.12 acres, directly adjacent to Walmart Neighborhood Market. 40 parking spaces exist
Area Description: The area consists of national and regional retailers, including Walmart Neighborhood Market, Family Dollar, Rouses Market, Autozone, O'Reilly's. The warehouse / distribution uses in the area are notable - including FedEx, Havertys, Amazon, and the planned 1,300-acre South Alabama Logistic Center.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1989
Year Renovated: 2015
Roof Type: Flat
Total Parking Spaces: 40
Parking Ratio: 5 (per 1000 SF)
Parking Type: Surface
Parking Description: Surface parking lot
Sprinklers: None
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Septic
Easements: Other
Easements Description: Easements, Covenants & Restrictions associated with Wal Mart
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,409 23,989 60,296
Median Age: 36.49 36.01 38.33
Households: 1,698 9,058 22,779

Contact

Photograph of Listing Agent

Steadman Bethea

Stirling Properties Mobile Gulf Coast CMLS Member
Photograph of Listing Agent

Jeff Barnes

Stirling Properties Mobile Mobile, AL 36602
Gulf Coast CMLS Member
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