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Snow Street Village | 8.0% Cap Rate

671 Snow Street
Oxford, AL 36203
PRICE : $4,590,000
CAP RATE: 8%
PROPERTY TYPE: Retail
SITE SIZE: 2.73 Acres
BUILDING SIZE: 29,888 SF
YEAR BUILT: 1999

Highlights

  • 8.0% cap rate on year one income, with considerable escalations in years to follow
  • 63% of the center has been occupied by the same tenants for more than 12 years
  • Anchored by Honey Baked Ham, H&R Block, CiCi’s Pizza, Family Health & Wellness Clinic
  • Located along a major thru fare with close proximity to Interstate I-20
  • Well-kept center with no deferred maintenance
  • 93% occupied with long term & stable tenants
  • May be purchased individually or with nearby center The Colonnade as part of portfolio

Description

Bull Realty is pleased to present the opportunity to acquire this multi-tenant retail investment located in the growing major retail corridor of Oxford, Alabama. The property is situated at the juncture of AL State Hwy 21 and Snow Street, approximately 0.5 miles from Interstate 20. The area exhibits high traffic flow with a busy intersection positioned nearby. Snow Street Village is a neighborhood shopping center, which draws over a third of its shoppers from up to 35 miles away and is situated on 2.73 acres with 30,150 SF of space. There are two out-parcels framing the newly renovated 9-unit complex. The facility boasts a 93% occupancy rate and a proven history as an excellent income producer since it was built in 1999. Over half of the tenants have occupied the center for more than 12 years.

Snow Street Village is anchored by corporate stores, including: HoneyBaked Ham, CiCi’s Pizza, Check into Cash, H & R Block and multiple medical tenants. The consistent mix of both corporate and local tenants add to the appeal of this property. Due to the $100,000+ spent on renovating this facility in 2015/2016 and parking lot striping in March of 2017, deferred maintenance is minimal.

The current population of Oxford is 21,348 representing an increase of 46.3% since 2000. Oxford is conveniently located at the halfway point between Atlanta, Georgia and Birmingham, Alabama with many commuters and travelers adding to the commerce in the area. The immediate and surrounding area boasts high visibility with many corporate facilities, including: Dillard’s, Jack’s, Rite Aid, Dollar General, Books-A-Million, Regions Bank, Wells Fargo, Red Lobster, and several branded hotels. The area continues to develop and gain new tenants due to the close proximity of Interstate 20.

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