Alpine Square – Pelham, AL

2969 Pelham Pkwy, Pelham, AL 35124, USA

Sands Investment Group is pleased to exclusively offer for sale Alpine Square, a 31,598 SF unanchored retail center located at 2969 Pelham Parkway in Pelham, AL. The property is currently 82% occupied with gross leases and offers a strong value-add opportunity, with in-place rents significantly below market, providing investors with potential for increased rental income and long-term value appreciation.

  • Value-Add Retail Opportunity: 31,598 SF unanchored retail center currently 82% occupied, with in-place rents significantly below market.
  • Strong Pro-Forma Yield: ~13% pro-forma cash-on-cash return at the asking price.
  • Affluent Birmingham, AL MSA Submarket: Exceptionally strong demographics with an average household income exceeding $126,000 within a 5-mile radius.
  • Established Local Tenant Base: Longstanding local tenancy provides operating stability while reducing near-term rollover risk.
  • High-Traffic Retail Corridor: Prominent positioning along Pelham Parkway with over 35,996 VPD and surrounded by national retailers.
  • Attractive Low-Basis Investment: Offered at $103.27 PSF, providing an attractive basis with value-add potential.
  • High-Growth Shelby County Location: Positioned within one of Alabama’s stronger suburban growth markets, supported by continued residential expansion.

 

BoR: Andrew Ackerman – Lic. AL #1089690

Price

$3,263,000

Cap Rate

7.50%

PREMISES

31,598 SF

YEAR BUILT

1987

YEAR RENOVATED

2016

BROKERS

Andrew S. Ackerman
Atlanta

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