Listed by Sands Investment Group
$3,830,000
Low-Rent Neighborhood Center
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 51,875
Cap Rate 8%
NOI $306,339
Occupancy 100%
Tenancy Multi
Lease Type NNN
Price per SqFt $74
Year Built 1978
Year Renovated 2026
Acreage 7.000
Investment Type Value Add
Ground Lease No
Low-Rent Neighborhood Center | $74 PSF | 96% Occupied | 8.00% CAP
Marketing description
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.
Investment highlights
- 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.
Listing Contacts
Listed by Sands Investment Group
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$306,339.00
$25,528.25/mo
Valuation Metrics
0
DSCR
8%
Cap Rate
8%
ROI
Map
Zoning
B-1 CommercialGeneral CommercialBusiness
View municipality zoning documents Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
View all 223 uses
View all 223 uses Last updated Mar 25, 2026 For deeper zoning details, reports are available at Zoneomics
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Title
Name
License
Is there information that looks off?
