Drake Plaza – Huntsville, AL

America’s Thrift Stores, Flow Supreme Air Sports
2009 Drake Ave SW, Huntsville, Alabama, USA

Sands Investment Group is pleased to exclusively offer for sale Drake Plaza NNN Asset, a 100% leased, 114,000 SF Triple Net (NNN) Lease shopping center in Huntsville, AL, priced at $14,000,000 (7.29% Cap Rate). The center is anchored by America’s Thrift Stores, a 36-unit Southeast operator founded in 1984, and Flow Supreme Air Sports, whose lease is guaranteed by its parent company. Both tenants invested heavily in converting their spaces, and their renewal options include rent increases of 7% and 10% respectively. Positioned at Drake Avenue and South Memorial Parkway, the property benefits from 134,000+ VPD and sits within the city’s primary south-side retail corridor, surrounded by Walmart, Dillard’s, Belk, and Academy Sports. Huntsville is Alabama’s largest and fastest-growing major city, driven by Redstone Arsenal, which generates a $36.2 billion annual economic impact and is the new headquarters of U.S. Space Command.

  • Triple Net (NNN) Lease Structure: Both leases are Triple Net (NNN), with tenants reimbursing their share of taxes, insurance and CAM, so the landlord’s responsibilities are mostly limited to the roof and structure.
  • Established Regional Retail Tenants: America’s Thrift Stores, which occupies the 63,000 SF former Kroger box, is a Birmingham-based operator founded in 1984 that now runs 36 stores across the Southeast, and its lease includes 3, 5-year options with 7% increases.
  • Long-Term Lease Commitments: Flow Supreme Air Sports occupies the remaining 51,000 SF under a lease guaranteed by its parent, Go With The Flow, LLC, with 4, 5-year options that carry 10% rent increases.
  • Prime Corner Location and High Traffic Exposure: The center sits at the corner of Drake Avenue SW and South Memorial Parkway (US-231), which together carry more than 134,000 VPD (110,463 VPD on US-231 and 23,773 VPD on Drake Avenue).
  • Dominant South Huntsville Retail Corridor: The center is part of Huntsville’s primary south-side retail corridor, alongside Walmart, Dillard’s, Belk, Academy Sports, ALDI, Cracker Barrel and IHOP. Retail center serves as the dominant retail hub in southwest Huntsville, drawing consumers from across the metro and positioning the asset as a primary shopping destination.
  • Proximity to Major Mixed-Use Development: The center is next to Joe Davis Stadium, home of MLS Next Pro’s Huntsville City FC, and near the $145 million, 18-acre Stadium Commons mixed-use development, which will include over 115,000 SF of commercial space, 240 luxury condos and a 145- room Hyatt Place.
  • Huntsville’s Rapid Population and Economic Growth: Madison County ranked first in the state for population growth from 2020 to 2025, adding 45,000 residents, and there are 62,672 residents with an average household income of $86,201 within 5 miles of the center.
  • Strong Employment Base and Government Presence: The center is minutes from Redstone Arsenal, which has a workforce of about 45,500 and a $36.2 billion annual economic impact, and continued growth is expected there as U.S. Space Command grows to more than 900 headquarters personnel by FY2028 and the FBI builds capacity for 5,000 employees by 2028.

BoR: Andrew Ackerman – Lic. AL #1089690

Price

$14,000,000

Cap Rate

7.29%

PREMISES

114,000 SF

YEAR BUILT

1981

RENEWAL OPTIONS

Varies

Lease Expiration

Varies

Lease Type

NNN

RENTAL INCREASES

Varies

BROKERS

Andrew S. Ackerman
Atlanta

List with SIG

Tap into the expertise of brokers who specialize in your property type.

Get In Touch