1390 S Forest Ave - Retail FOR SALE


Luverne, AL 36049
$499,000 USD
334-699-8000
1390 S Forest Ave, Luverne, AL for Sale
$499,000 USD
Retail - FOR SALE
1/9
null | 9.6% Cap Rate

1390 S Forest Ave
Luverne, AL 36049


HIGHLIGHTS

  • 75% occupancy
  • Located on US Hwy. 331
  • High-visibility corridor with easy access
  • 2023 AADT of 12,695 VPD on US Hwy. 331

OVERVIEW

Prime Investment Opportunity! This multi-tenant retail center with State Farm anchor tenant (credit-rated) is located on high-traffic US Hwy. 331 in Luverne, AL. 2023 AADT of 12,695 VPD. The building is approximately 4,800 sq. ft. with four +- 1,200 sq. ft. retail suites (75% occupancy). Positioned across from Ramey's Marketplace and near AutoZone, Luverne Parks & Recreation, DG Market, McDonald's, Jack's, Roses and more. Diverse tenant mix: Suite 1 (Vape Shop) with a lease expiring 3/31/2027, Suite 2 (long-term anchor tenant State Farm) leased through 12/31/2032 with scheduled rent increase, and Suite 3 (Bill Henry's Wings) with a lease expiring 7/31/2026. Suite 4 is newly vacant and available for a new tenant at $1,250/monthly or ideal for owner-user - previously occupied by Subway and Fountain Bar & Grill, with a new HVAC installed in 2024. This sale offers a proforma NOI of $47,875.70 at full occupancy and a 9.6% cap rate.

FOR SALE DETAILS

PRICE

$499,000 USD

PRICE/SF

$104 USD /SF

CAP RATE

9.6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,682 SF

ZONING

OT

APN/PARCEL ID

15-03-05-1-000-018-0000

ASK ABOUT THIS PROPERTY

Shannon AutyNAI TALCORMore Info
334-699-8000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Shannon AutyNAI TALCORMore Info
334-699-8000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.