5 Gems in Macy's Mall-Based Real Estate Portfolio

Most investors recognize that Macy's (NYSE: M) owns a valuable real estate portfolio. In fact, Macy's real estate is probably worth more than its total enterprise value these days.

The biggest prize in this collection of real estate is the massive Macy's flagship store on 34th St. in Manhattan. The vast majority of Macy's square footage is located in traditional malls, though. Many investors seem to assume that this real estate isn't worth much, due to the supposed "death of the mall."

Macy's flagship store in Manhattan isn't its only valuable property. Image source: Macy's.

Source: Fool.com