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11850 US-231Meridianville, AL 35759
Olympia Crossing
Asset ClassRetail
Occupancy91%
Square Feet: 16,020Year Renovated: 2025Occupancy: 91%Access Data Room
Recently Constructed, Unanchored Strip Center in a Booming Huntsville Growth Corridor
overview of deal

Overview

Colliers is pleased to present Olympia Crossing, a best-in-class, +/- 16,020-square-foot new-construction, unanchored strip center strategically positioned in the rapidly expanding Huntsville, Alabama market. Situated along Highway 231/431 — a high-visibility corridor carrying in excess of 34,000 vehicles per day — the property is located within the Meridianville submarket, which has experienced extraordinary population growth of 122% from 2000 to 2025.

 

Olympia Crossing benefits from a diversified, necessity-driven tenant roster comprised entirely of medical, restaurant, and service-oriented tenants, providing strong insulation against economic volatility. The property sits within immediate proximity to North Village Town Center, a $240 million mixed-use development headlined by Target and Home Depot, encompassing more than 500,000 square feet of retail. In addition, Huntsville Hospital has announced plans to develop a $50 million emergency room and imaging center on land adjacent to North Village Town Center — further anchoring the corridor as a regional destination.

 

Additional upside is available through the lease-up of one remaining 1,400 SF vacancy, presenting an investor the opportunity to drive incremental NOI upon acquisition. The surrounding trade area reflects an affluent consumer base, with an average household income of $120,394 within a 3-mile radius. Olympia Crossing represents a compelling opportunity to acquire a recently constructed, strip center in one of the most sought-after growth markets in the Southeast — the Huntsville MSA, recognized as the 15th-fastest-growing metropolitan area in the nation.

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Investment Highlights

Year Renovated
2025
Retail SF
16,020
Year Built
2022
Occupancy
91%

Recently Constructed, Unanchored Strip Center in a Booming Huntsville Growth Corridor:

  • Dual-phase construction (2022 / 2025) significantly limits near-term capital expenditure exposure
  • Mark-to-market upside- as current in-place rents present an opportunity to push rates upon lease renewal or re-tenanting
  • Value-add potential through lease-up of the remaining 1,400 SF vacancy, providing immediate NOI growth potential
  • Positioned within minutes to a $240 million retail development and a planned $50 million hospital campus, reinforcing sustained co-tenancy demand
  • At-grade visibility with the center oriented parallel to the highway, offering excellent signage exposure and direct ingress/egress from Hwy 231/431

 

Necessity-Based Tenant Roster — Healthcare, Personal Service & Restaurant:

  • Crestwood Healthcare, the center’s largest tenant at 26% of GLA, is operationally affiliated with Huntsville Hospital — one of the largest and most established health systems in Alabama — providing institutional-grade tenancy stability
  • Olympia Crossing carries a distinctive “medtail” identity: Crestwood Healthcare, Magnolia Animal Hospital, and Healthsource Chiropractic collectively occupy 54% of occupied space, insulating the center from broader e-commerce threats
  • AT&T’s most recently executed lease — signed at $35.00 PSF — establishes a definitive, market-validated rental benchmark for the corridor and confirms continued leasing momentum
  • Marco’s Pizza and Asian Express provide a complementary food-and-beverage component; both tenants are currently operating below $23.00 PSF, indicating meaningful mark-to-market opportunity
  • According to Placer.ai, the subject Marco’s location ranks in the top 85th percentile nationally and is ranked 6th out of 35 locations statewide — a strong indicator of foot traffic quality and trade area depth

 

Explosive Growth in Meridianville — A Submarket on the Move:

  • Meridianville has emerged as one of North Alabama’s most dynamic growth corridors, driven by the northward expansion of residential and commercial development radiating from Huntsville proper
  • Airport Expansion: Huntsville International Airport (HSV) is executing a significant capital improvement program — expanding infrastructure, increasing passenger capacity, and enhancing connectivity to national markets; airport-adjacent employment growth is a proven catalyst for housing formation and retail demand
  • Exceptional Trade Area Demographics: Madison County and the greater Huntsville MSA consistently rank among the fastest-growing metros in the Southeast, supported by sustained federal defense investment at Redstone Arsenal, a thriving aerospace and technology sector, and ongoing in-migration from higher-cost markets
  • Traffic counts exceeding 34,000 VPD along Hwy 231/431
  • 3-mile average household income of $120,394
  • 122% population growth within 3 miles from 2000 to 2025

 

Huntsville — One of the Fastest-Growing MSAs in the United States:

  • The Huntsville MSA is home to over 1.2 million people and ranks as the 15th-fastest-growing metropolitan statistical area in the nation
  • Huntsville has surpassed Birmingham to become the largest city in Alabama, with a population exceeding 240,000 residents
  • Huntsville posted a 2.6% population growth rate in 2025 — ranking among the six fastest-growing cities nationally — and is averaging approximately 11,000 new residents annually
  • To support continued expansion, ALDOT is constructing the Northern Bypass, a $35 million roadway designed as a key component of the city’s long-range transportation loop system
  • In September 2025, the White House announced the relocation of U.S. Space Command headquarters to Huntsville, a move projected to create up to 30,000 additional jobs and further stimulate demand across all commercial real estate sectors

 

 

 

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11850 US-231Meridianville, AL 35759
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