Metro West Plaza
Metro West Plaza | Seller Financing Available | True Value-Add Opportunity | Dothan, AL
Marketing description
RIPCO Real Estate is pleased to offer for sale Metro West Plaza, a ±32,043 square foot neighborhood shopping center located in Dothan, Alabama. Originally constructed in 1986, the property offers 13 units ranging in sizes from 1,250 to 4,300 square feet. The property is 25.75% occupied by bar, service and traditional retail tenants in a 3.3% vacancy, high traffic corridor. The property is located at 2855 Ross Clark Circle, along the west side of the road, in the Southwest quadrant, between Interstate 231 and the Montgomery Highway. Metro West Plaza maintains 396 feet of frontage along Ross Clark Circle where the property sees 33,549 AADT. Within 1-mile of the site there is a population of 4,808 and an average household income of $102,203.
The asset would be an attractive investment opportunity for investors looking for a true value-added multi-tenant retail opportunity, to acquire a well-located neighborhood center in good condition with high vacancy, to lease up the vacancy and benefit from the improved cash flows.
Investment highlights
VALUE-ADD OPPORTUNITY
The property is 25.75% occupied by bar, service and traditional retail tenants in a 3.3% vacancy high traffic corridor, providing a new owner with the opportunity to stabilize the center and benefit from the increased cash flows
The property offers 23,792 square feet of vacancy in unit sizes ranging between 1,250 to 4,300 square feet, delivering highly desirable unit sizes for prospective local and regional tenants
The property is priced well below replacement cost and received a new roof in 2021, presenting a clear path to stabilization and lease up for a new owner
STRATEGIC LOCATION
The property is located at 2855 Ross Clark Circle, along the west side of the road, in the Southwest quadrant of Ross Clark Circle, between Interstate 231 and the Montgomery Highway, where the property benefits not only from the local market engagement, but also captures the through traffic from North Alabama and Florida
Metro West Plaza maintains 396 feet of frontage along Ross Clark Circle where the property sees 33,549 AADT, offering very strong location fundamentals in a very tight trade area
The asset is positioned within a densely trafficked commercial corridor, neighboring multiple hotels, national credit restaurants, apartments and medical offices
STRONG DEMOGRAPHICS
4,808 population within a 1-mile radius
$102,203 average household income within a 5-mile radius
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