Plaza at Riverchase

JLL as advisors are pleased to present Plaza at Riverchase, located at 1855 Montgomery Hwy, Hoover, Birmingham, AL 35244.

This is a unique opportunity to invest in Birmingham's most visited retail node. The Plaza offers significant mark-to-market opportunity with rents averaging 25% below market, providing an immediate value-add potential to lease up 14,100 SF over six suites. With a robust occupancy rate of 92%, an As-Is NOI of approximately $1.8MM, and an NOI growth rate projecting a CAGR of 5.80% over five years, investors are positioned to benefit from both stable cash flows and future growth.

The property spans 197,840 SF and benefits from a highly affluent consumer base with an average household income of $156,574 within a five-mile radius. The Plaza is centrally positioned within Alabama’s #1 retail node, boasting 22.4 million annual visits. Major tenants include nationally recognized brands, further securing the income stream with a weighted average tenure of approximately 11 years.

Strategically located near Riverchase Galleria, the second most visited retail center in Alabama, and offering seamless access to major thoroughfares with traffic counts of 33,213 VPD, the property attracts extensive pedestrian traffic. Investor potential is bolstered by nearby demographic trends and infrastructure developments, including a new pylon sign enhancing tenant visibility.

Plaza at Riverchase provides investors with a roadmap for value creation through strategic lease-up initiatives and potential rent increases, alongside sustainable income streams and a dominant market position. This offering stands out as an excellent investment prospect for those seeking long-term stability and growth in a thriving retail environment.