1390 Forest Avenue, Luverne, AL 36049
Rural
THB ฿17,199,033
USD $499,000
Published on: 24 Dec 2024
Last updated on: 15 Jan 2025
Property ID: 110096486937
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Commercial Sale - Luverne, AL
1390 Forest Avenue, Luverne, AL 36049
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/mo 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.
Property Details
Basic Info
Basic Info
Property Type
Rural
Listing Status
Active
Land Size
1,456.87 m2
Year Built
1993
Architecture Style
Other
Num Floors
1
County
Crenshaw
Parcel ID
1503051000018000
Provider
Dothan Association of Realtors
Subdivision
N/A
Brokerage Office Name
TALCOR ALABAMA, LLC dba NAI Whatley
Brokerage Office Phone
3346998000
Neighbourhoods
Other
Address
1390 Forest Avenue, Luverne, AL 36049
Contact Agent
Shannon Auty
Contact Agent
Contact Agent
Email enquiry to NAI TALCOR
Shannon Auty
107 Hidden Glen Way, Dothan, AL 36303
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Property ID: 110096486937
Data provided by Dothan Association of Realtors, MLS #: 202004
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