1355 Commerce Dr - Apartments FOR SALE
Auburn, AL 36830 |
$14,300,000 USD
205-582-3676
1355 Commerce Dr
Auburn, AL 36830
HIGHLIGHTS
- Significant Capital Infusion: Current ownership has completed recent interior and amenity renovations.
- Substantial Rental Growth: The Auburn market saw a 7.6% increase in rents over the past 12 months; The Avery has seen in-place rent growth of 8.6%.
- Close Proximity to Auburn University: The property is 4.2 miles from the school which boasts an annual enrollment of 33,000+ students.
- Major Employers Nearby: East Alabama Medical Center (3,700 jobs) is just 2.7 miles away. Briggs & Stratton (430 jobs) is less than 20 minutes' drive.
- Retail Options Are Plentiful: The Avery sits near both the Auburn Mall (50+ stores) and Tiger Town Outdoor Shopping Center (108 stores).
- Strong Economy: Non-farm payrolls were recently increasing at an annual rate of 12.8%, or a gain of about 7,600 jobs.
FOR SALE DETAILS
PRICE
$14,300,000 USD
PRICE/SF
$132 USD /SF
# OF UNITS
108
PRICE/UNIT
$132,407
CAP RATE
6.59%
% LEASED
97%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
The Avery at Auburn
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1992
PARKING SPACES
-
LAND DETAILS
LAND ACRES
11.95 AC
LAND SF
520,542 SF
ZONING
-
APN/PARCEL ID
09-05-16-4-000-002.002
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205-582-3676
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205-582-3676
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