Retail•Strip Center•For Sale or Lease

Westgate Shopping Center

1520 W. Moulton Street, Decatur, Alabama 35601

Sale Price $299,000
Lease Rate $3.00-$8.00 /SqFt MG
Sale Type Investment
Zoning M-1
Bldg Type Multi-Tenant
Year Built 1967
Stories 1
Cap Rate 10.87%
Vacancy 33%
Gross Bldg 10,500 SqFt
Contig Space 4,500 SqFt
Net Op Inc $32,500
The section including suites A, B & C can be sold separately from the rest of the building. Currently, Suites A & C are for lease. Multiple options available in this center. Suite D can be warehouse/storage. Suite C was a working laundromat that can be leased with all the equipment. Suite A is open and has many possible uses. This property has tons of possibilities. Suites A, B, and C can be sold separately from the rest of the center. Suite B is currently leased to AAA Pawn. Suite A & C could be leased. Suite D is for lease. Decatur has a population of over 55,000 and a median income of just over $45,000. The city, nicknamed "The River City", is located in Northern Alabama on the banks of Wheeler Lake, along the Tennessee River. It is also the county seat and largest city in Morgan County. Morgan County boasts a diverse economic base, from nearly 20 Fortune 500 companies to innovative entrepreneurs and small business owners. Also Decatur is a commerce hub and primary artery for railroads with both CSX Transportation Systems and Norfolk-Southern maintaining rails through the area.

3 Spaces

Warehouse/Distribution
15,000 SqFt
$3.00 MG
D
1
This space was formerly a grocery store. It closed after a fire, but renovations have been completed. The TPO roof is new as well as the supports inside. Landlord is in the process of getting electricity re-established and adding lights to the interior. There is a dock door in the back and the space is almost entirely open.
Strip Center
3,000 SqFt
$8.00 MG
A
1
3,000 SqFt
3,000 SqFt
This space is mostly open and has various uses.
Strip Center
4,500 SqFt
$6.00 MG
C
1
4,500 SqFt
4,500 SqFt
This space is a functioning laundromat. All equipment stays and the profit goes to the tenant.

1 Attachments

Lease Brochure

8/10/2019 3:39:41 PM 8/10/2019 3:39:41 PM

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