Westmeade Plaza | $54/SF | Below Market Rents
Short Term Leases | Below Market Rents
Marketing description
This 14-tenant neighborhood shopping center presents a compelling value-add investment opportunity. The property is currently leased to a diverse tenant mix on short-term gross leases, with rents below market—offering immediate upside through lease restructuring and rent growth.
Strategically located in Decatur, the asset benefits from strong regional growth driven by its close proximity to Huntsville, one of the fastest-growing economic hubs in the Southeast. Continued population and job expansion in the area are fueling increased retail demand and long-term appreciation potential.
Offered at an attractive price per square foot, this property provides investors with a rare opportunity to acquire a well-located retail center with significant income growth potential.
Investment highlights
Value-Add Investment Potential – The asset presents notable upside through the lease-up of existing vacancy and the ability to capitalize on accelerating rental rate growth within the improving Decatur submarket.
Turnkey Space Availability – All suites were updated with build-outs upon tenant occupancy, offering new tenants move-in ready spaces. This minimizes leasing downtime and reduces initial capital outlay for build-to-suit improvements.
Significant Capital Improvements – In 2020, the ±15,952 SF Farmers Home unit underwent a $400,000 renovation, including installation of new HVAC with remote internet control, upgraded interior finishes (paint, ceiling tile), expanded office space, and comprehensive updates to plumbing, restrooms, and wiring.
Additionally, a new roof was installed for the Farmers Home space at a cost of $57,000.
High Visibility and Traffic Counts – Positioned along Danville Road SW, a five-lane arterial connecting to Beltline Road SW (±26,400 VPD) the property benefits from strong daily exposure.
Strategic Proximity to Schools and Residential Base – Adjacent to a junior high school and near Austin High School, the center sees consistent daily traffic driven by school activity and the surrounding residential neighborhoods.
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