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$ 499,000
Est. payment | /mo
4,800 SqFt
$ 499,000
Est. payment | /mo
4,800 SqFt
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,800 sqft
Price per Sqft $103
MLS Listing ID 202004
Year Built 1993
Lot Size 0.360 Acres
Property Sub-Type Commercial
Property Description
This multi-tenant retail center with State Farm and Hayne's Ambulance anchor tenants is located on 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 (100% occupied). 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 (Hayne's Ambulance) leased through 11-30-28, Suite 2 (long-term anchor tenant State Farm) leased through 12/31/32 with scheduled rent increase, Suite 3 (GLG Sandwich Shop) leased through 10-31-28, Suite 4 (Smash Foods) leased through 12-31-28, with a new HVAC installed in 2024. This sale offers a 9% cap rate with NOI of $45,601.66.
Location
State AL
County Crenshaw
Area Crenshaw
Exterior
Garage Spaces 22.0
Waterfront Description No Waterfront
Total Parking Spaces 22
Garage No
Building
Lot Description Road Frontage
Sewer Public Sewer
Water Public, City
Level or Stories 1
Others
Virtual Tour https://tour.usamls.net/1390-S-Forest-Avenue-Luverne-AL-36049/unbranded
Listed by NAI TALCOR
Nearby Locations
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