Low-Rent Neighborhood Center – Centreville, AL

155 Birmingham Rd, Centreville, AL 35042, USA

Sands Investment Group is pleased to exclusively offer for sale the 51,875 SF Low-Rent Neighborhood Center located at 155 Birmingham Road and 24 Hazel Street in Centreville, AL. This offering presents a multi-tenant retail value-add opportunity with in-place rents significantly below market rates (approximately $6 PSF versus $8 PSF market), providing investors with the potential for future income growth. The property is 96% occupied, with only one 1,800 SF vacant suite remaining, offering immediate leasing upside while generating stable cash flow, making it a secure and attractive investment opportunity.

  • Multi-Tenant Retail Value-Add Opportunity: In-place rents average approximately $6 PSF, well below the estimated market rate of $8 PSF, providing meaningful upside through future lease rollovers. The property is 96% occupied with only one 1,800 SF vacancy remaining.
  • Strong Credit-Backed Anchor Tenancy: USPS, CVS, and Dollar General Market collectively account for approximately 55% of the center’s GLA. Anchor tenants demonstrate exceptional store performance (contact agent for additional details).
  • Necessity-Based Tenant Mix: A strategic blend of national and regional retailers and service providers creates a diversified roster that combines the stability of established brands with locally focused operators serving the day-to-day needs of the surrounding community.
  • Dominant Retail Destination Within the Trade Area: Limited competing retail inventory positions the center as one of the primary shopping destinations within the Centreville submarket.
  • Compelling Basis Relative to Replacement Cost: Offered at approximately $74 PSF, providing investors the opportunity to acquire the asset at a significant discount to replacement value. Recent capital improvements have further enhanced the property’s positioning (contact agent for details).
  • Landlord-Favorable Lease Structure: All tenants operate under attractive net lease arrangements, helping minimize ownership responsibilities and support predictable cash flow.
  • Recent Roof Replacements: New 2026 roofs with transferable 20-year warranties in place, minimizing future maintenance risk and capital costs.

BoR: Andrew Ackerman – Lic. AL #1089690

Price

$3,830,000

Cap Rate

8.00%

PREMISES

51,875 SF

YEAR BUILT

1978

RENEWAL OPTIONS

Varies

Lease Expiration

Varies

Lease Type

NNN

RENTAL INCREASES

Varies

BROKERS

Andrew S. Ackerman
Atlanta

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