Snow Street Village | 10-Unit Retail Center | 8.5% Cap Rate

641-671 Snow Street Oxford, AL 36203

641-671 Snow Street, Oxford, AL, 36203
641-671 Snow Street, Oxford, AL, 36203
FOR SALE
Property Type:
Neighborhood Center
Amount:
$3,980,000
Last Verified:
Sep 23, 2020

Highlights

  • 8.5% cap rate on year one income, with considerable escalations in years to follow
  • Anchored by Honey Baked Ham, H&R Block, CiCi’s Pizza, Family Health & Wellness Clinic
  • Upside upon renewals of below-market tenants
  • Located along a major commercial corridor with close proximity to Interstate I-20
  • Well-kept center with no deferred maintenance
  • 92.7% occupancy with long-term & stable tenants
  • Broker of Record: Michael Bull AL License #000083871-0

Description

Bull Realty is pleased to offer a unique opportunity to acquire a 92.7% occupied, ±25,396 SF retail center in Oxford, Alabama. Being delivered at an 8.5% Cap Rate, based on existing income and an asking price of $3,980,000 ($156.70/SF). This retail strip center offers high yields from a diverse mixture of both corporate and regional tenants including H & R Block, Wilhoite & Associates, Regional Realty, Oxford Nail & Spa, Sisters Treasures Jewelry & Gifts, CC Services, Relaxed Spa, Cici's Pizza, Edmond's Family & Wellness and Alabama Allergy Asthma Center.

This property is situated on 2.29 acres near the juncture of Alabama State Hwy-21 and Snow Street, and approximately 0.5 miles from Interstate 20. The area exhibits high traffic flow with a busy intersection positioned nearby. Snow Street Village is a neighborhood shopping center, which draws over a third of its shoppers from up to 35 miles away. There is one out-parcel framing this recently renovated 10-unit complex. The facility has been historically stable and proven to be an excellent income producer since it was built in 1999.

Oxford is a city in Calhoun and Talladega Counties in the State of Alabama. The population was 21,348 at the 2010 census, an increase of 46.3% since the 2000 Census. Oxford is one of two principal cities of and included in the Anniston-Oxford Metropolitan Statistical Area. Oxford is conveniently located at the halfway point between Atlanta, Georgia and Birmingham, Alabama with many commuters and travelers adding to the commerce in the area. The immediate and surrounding area boasts high visibility with many corporate facilities, including: Dillard’s, Jack’s, Rite Aid, Dollar General, Books-A-Million, Regions Bank, Wells Fargo, Red Lobster, and several branded hotels. The area continues to develop and gain new tenants due to the close proximity of Interstate 20 and its proximity to major large scale retail developments under development across Snow Street.

One block off of State Hwy-21 in Oxford Alabama. Across Snow Street from Quintard Mall, a regional mall.


Year Built: 1999
Building Size: 27398.0sq ft
Lot Size: 2.29 acres

Map of 641-671 Snow Street, Oxford, AL, 36203

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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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"Incentives" are vital today and in the future because:

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