Shops of Scottsboro
Closed24540 John T Reid Pkwy, Scottsboro, AL 35768
Property type
Retail
Price
Market to Determine
Building size
77,328 sf
Rentable area
77,328 SF
Year built
2022
Year renovated
Occupancy
Zoning code
Lot size
10.29 Acres
Sold/status
Sold · Date unknown
Net Operating Income
$1,109,833
Property description
Franklin Street is pleased to offer Shops of Scottsboro, a 77,328 SF Publix and TJMaxx anchored shopping center in Scottsboro, Alabama. Scottsboro is located in northeast Alabama, 40 miles east of Huntsville and 60 miles southwest of Chattanooga. Scottsboro serves as a natural hub that draws customers from surrounding cities and counties, creating an attractive market for retailers. Scottsboro has been ripe for growth in recent years from new-to-market retailers and restaurants to a new $600M Google data center. Shops at Scottsboro was developed in 2022 after years of Publix scouting the market for the perfect site. The location is at the main retail intersection for the community across the street from Walmart & Home Depot, and convenient to other daily traffic generators. The center generates regular trips from towns 25+ miles away and there is not another Publix or TJMaxx location for 30+ miles in any direction, creating a much larger than typical trade area for the center. The property sits elevated allow for outstand visibility at the intersection that gets 50,000+ VPD combined. The small shop tenants all operate under NNN leases, while Publix and TJMaxx pay a fixed CAM/Ins amount that is currently higher than the actual expenses.
Property highlights
- New Construction Publix & TJMaxx-anchored shopping center in Northeast Alabama
- National Tenants Make Up 98.3% of GLA & 97% of Revenue: Shop tenants include Great Clips, Jersey Mike's, and Pet Supplies Plus
- Outstanding Visibility at Major Intersection: 31,549 VPD on John T Reid Pkwy & 21,701 VPD on Hwy 35
- Strong Growing Sales From Publix & TJMaxx (Contact Broker for Sales)
- Significant Trade Area: Center pulls Regular Daily Customers from 25 Miles from the Site
- Stable Income Stream: 12.5+ Years of WALT
- Cohesive Outparcels Driving Additional Traffic: Mavis Tire, Cadence Bank, and Tidal Wave
- Mature Intersection: Walmart ($108M sales) & Home Depot ($63M sales) Across the Street