42950 U.S. 72

Description:

The Stevenson Plaza is a 36,600-square-foot strip shopping center in Stevenson, Alabama. The subject property is situated on four acres and is grocery anchored by a regional supermarket which has nearly 24,000 square feet of space and a five-year option to renew in May of 2024. The grocer, Bruce’s Foodland, has done extensive renovations to their space at their expense in the last five years. Other tenants include an auto parts store, a small loan company and seven 800-square-foot units around the building occupied by small retailers. US Highway 72 in Stevenson, where the center is located, has an average daily traffic count of over 13,000 vehicles per day. The Stevenson Plaza is positioned a short 35 miles from Chattanooga, Tennessee and less than 60 miles from Huntsville, Alabama.

Stevenson Plaza is a great investment opportunity with great occupancy history. In 2017, there were over $50,000 in renovations done to the center with upgrades such as a new façade, re-sealed parking lot and a new roof coating with a 20-year warranty. There is also a value-add opportunity in this center by leasing up the remainder of the vacant space.

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