Retail Shopping Center Investments
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Retail Shopping Center Investments Properties
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Retail Center
Central Alabama
Retail Shopping Center Investments Property #pshops 08:07:17
State Located: Central Alabama
Building & Location Grade: B Grade Property in a B Grade Location
Property Condition: Value added through redevelopment, rehab, management turnaround, releasing, expansion or retrofitting
Occupancy: Currently 48% occupied
National Anchors: The percentage of National Anchors in the property is 5%. The Primary Major Anchor is Movie theatre, occupying 25000 s.f.. The 2nd Major Anchor is Bowling Alley, occupying 25000 s.f.
Net Leasable Area: There is 313000 total leasable s.f.. Current Vacant s.f. is 152000
Leasable Spaces: There is 0 total leasable spaces. Number of vacant spaces: 0
Land Area: 27 Acres
Price: $10,500,000
CAP (Capitalization Rate): 5%
Price Per Square Foot: $33.54
NOI (Current): $500,000
NOI (Potential): $1,900,000
Terms of Sale: Available for All Cash
Financing Obligations:
Loan is Recourse.
Original Loan Amount: $9,590,000
Interest Rate: 10%
Amortized Over 30 years, due in 3 years.
Annual Debt Service: $800,435
Annual Cash Flow: $1,000,000
Cash on Cash Return: 5%
Price to Buyer (Cash over Mortgage): $10,600,000
Remarks / Comments: When the current owners bought this property as a partnership,
the property was only 28% occupied. There was 2 major partners - one who
ran the center and ran the leasing up of the center. Sadly, this partner recently
died. This leaves the other partner, and out of state partner, in a position where
he cannot manage the center and more importantly, the leasing up of the property
from out of state. This partner is at a point where there is a balloon payment coming
due in July of this year. They will now either sell or, refinance in July. This is the
window now available for a rehab buyer.
This property offers tremendous upside potential. At the time of the passing of the previous
partner, this property appraised at $19 million. With the death of the parter went the demise
of the successful leasing. There was at that time a good number of tenant that had made
plans to come in to the center.
Upside available due to mismanagement and personal circumstances. This property
demands that the right person or team must be at the property handling the leasing which
cannot take place right now because of the out of state partner.
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The Retail Shopping Center Investment contained herein have been obtained from Retail Shopping Center Investments sources believed to be reliable. While we do not
doubt the accuracy of these Retail Shopping Center Investment, we have not verified it and make no guarantee, warranty or representation
about the accuracy or completeness of the Retail Shopping Center Investments information. As a Retail Shopping Center Investments buyer, it is your responsibility to
independently confirm the accuracy and completeness. Any projections, opinions, assumptions or estimates used
are for example only and do not represent the current or future performance of the Retail Shopping Center Investment. The value of these
Retail Shopping Center Investment to you depend on factors which should be evaluated by your tax, financial and legal advisors. You and
your advisors should conduct a careful, independent investigation of these Retail Shopping Center Investment to determine to your
satisfaction the suitability of the property for your needs. By requesting further information, you agree to
indemnify Quality Real Estate and shall hold Quality Real Estate harmless from any kind of claim, cost, expense,
or liability arising out of your investigation and/or purchase of these Retail Shopping Center Investment.
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