Calling for Offers! Due, Sept 20 @ 5:00 pm | 1720 Gulf Shores Pky
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Calling for Offers! Due, Sept 20 @ 5:00 pm 1720 Gulf Shores Pky
46,780 SF Vacant Retail Building Gulf Shores, AL 36542 $8,623,916 CAD ($184 CAD/SF) 6.20% Cap Rate
Investment Highlights
- 47,000 DTC on Gulf Shores Pkwy (Hwy 59) main corridor for Gulf Shores
Executive Summary
Paradise Isle Shopping Center is an extremely well-located, 100% occupied, multi-tenant shopping center, anchored by a newly built Publix, with a high daily traffic count (DTC 47,000) and excellent visibility and access on Gulf Shores Pkwy (Hwy 59), the main corridor to Gulf Shores and Orange Beach from the I-65 and I-10 interstates. This shopping center is in a prime location within 1.5 miles from the Gulf Shores bustling strip of tourist attractions and hotels. The property is located on 4.3 acres and the buildings have a total of 46,780 sf with a projected net operating income at $371,600. The property is zoned BG – General Business District and is intended to provide locations for a mixture of commercial, service, lodging, multi-family, and other compatible uses serving community needs.
Property Attributes:
* Publix – completely rebuilt in 2024 and holds a 20-year lease which commenced in 2024
* Auto Zone – 10-year lease begins 2024 – 2025
* Hwy 59 widening and improvement project will be completed in 2026 and includes user-friendly entrances and
access management to Publix (7 access points for ingress & egress).
* Embassy Suites, a $85 million project, 1.7 miles from Paradise Isle SC is now underway and will be completed in July
2025.
* The iconic, newly rebuilt Lodge at Gulf State Park, a $140 million project, funded by the State of Alabama, is within 3
miles from Paradise Isle SC.
* There are numerous barriers for new retail development which in turn will make this property appreciate in value.
* Offered well below replacement cost at $128/sqft.
Property Attributes:
* Publix – completely rebuilt in 2024 and holds a 20-year lease which commenced in 2024
* Auto Zone – 10-year lease begins 2024 – 2025
* Hwy 59 widening and improvement project will be completed in 2026 and includes user-friendly entrances and
access management to Publix (7 access points for ingress & egress).
* Embassy Suites, a $85 million project, 1.7 miles from Paradise Isle SC is now underway and will be completed in July
2025.
* The iconic, newly rebuilt Lodge at Gulf State Park, a $140 million project, funded by the State of Alabama, is within 3
miles from Paradise Isle SC.
* There are numerous barriers for new retail development which in turn will make this property appreciate in value.
* Offered well below replacement cost at $128/sqft.
Property Facts Under Contract
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
46,780 SF
Building Class
C
Year Built/Renovated
1984/2024
Price
$8,623,916 CAD
Price Per SF
$184 CAD
Cap Rate
6.20%
NOI
$534,683 CAD
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.25
Lot Size
4.30 AC
Zoning
BG - Business General - The property is zoned BG – General Business District and is intended to provide locations for a mixture of commercial, service,
Parking
301 Spaces (6.43 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Auto Zone
- -
- 10,080 SF
- -
- -
- Gulf Shores United Methodist Church
- -
- 5,360 SF
- -
- -
- Nail Boutique & Spa
- -
- 1,400 SF
- -
- -
- Publix
- Retailer
- 25,740 SF
- -
- -
- ReSale Heaven
- -
- 4,200 SF
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Auto Zone | - | 10,080 SF | - | - | ||
| Gulf Shores United Methodist Church | - | 5,360 SF | - | - | ||
| Nail Boutique & Spa | - | 1,400 SF | - | - | ||
| Publix | Retailer | 25,740 SF | - | - | ||
| ReSale Heaven | - | 4,200 SF | - | - |
Bike Score ®
Very Bikeable (75)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $618,048 CAD | |
| Land Assessment | $2,331,722 CAD | Total Assessment | $2,949,769 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$2,331,722 CAD
Improvements Assessment
$618,048 CAD
Total Assessment
$2,949,769 CAD
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Calling for Offers! Due, Sept 20 @ 5:00 pm | 1720 Gulf Shores Pky
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