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The Market Shoppes | Decatur, AL 2407 6th Ave SE 81,045 SF 100% Leased Retail Building Decatur, AL 35601 $13,174,028 CAD ($162.55 CAD/SF) 6.85% Cap Rate
Investment Highlights
- 100% Occupied Stabilized Retail Center with Significant Long-Term Upside; Low Rents; 2012 Construction
- Kohl’s (NYSE: KSS) has a 13+ year operating history and a health ratio of under 4%
- Three separate parcels/APNs for future arbitrage in selling multi-tenant properties separately and holding the Kohl’s at a very low basis
- The market rent for this space is $12 to $14 PSF based on recent junior box comps at the intersection
- Kohl’s self manages and maintains their parcel making the property more passive than a traditional center of this size
- Nearly all of the multi-tenant pad tenants are paying "right-sized," replaceable rents, supported by an ideal tenant mix (66% national tenants)
Executive Summary
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- -
- Triple Net
- Jan 2034
Kohl's began as a department store business in Wisconsin in 1962, building on earlier Kohl family retail roots before expanding beyond the Midwest. The company now operates as an omnichannel retailer with stores, e-commerce, and a mobile app, serving families through a department-store format centered on value and convenience. The business focuses on moderately priced private-label and national-brand apparel, footwear, accessories, beauty, and home products. Kohl's uses a national distribution and fulfillment network to move merchandise to stores and directly to customers' doors.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | - | Triple Net | Jan 2034 |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Previously an ULTA Beauty available.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 4,000 SF | Retail | End Cap | Now |
1st Floor
| Size |
| 4,000 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
1st Floor
| Size | 4,000 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
Previously an ULTA Beauty available.
Nearby Major Retailers
Property Taxes
| Parcel Number | 03-09-32-3-001-014.000 | Improvements Assessment | $743,147 CAD |
| Land Assessment | $468,664 CAD | Total Assessment | $1,211,811 CAD |
Property Taxes
Presented by
The Market Shoppes | Decatur, AL | 2407 6th Ave SE
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