Listed by NAI TALCOR
$499,000
100% Occupied Multi-Tenant Retail
Details
APN 1503051000018000
Property Type Retail
Sub Type Shopping Center
Square Footage 4,800
Cap Rate 9.14%
NOI $45,601
Occupancy 100%
Tenancy Multi
Lease Type Modified
Lease Term 10
Lease Expiration 12/31/2032
Remaining Term 6.6
Rent Bumps Yes
Price per SqFt $105
Broker Co-Op Yes
Class B
Year Built 1993
Year Renovated 2024
Buildings 1
Stories 1
Acreage 0.360
Parking Spaces 22 spaces
Parking Per SqFt 4.58
Investment Type Stabilized
Lease Commencement 01/01/2023
Multi-Tenant Retail Center in Luverne, AL
Marketing description
Investment Opportunity: This multi-tenant retail center with State Farm and Haynes Ambulance anchor tenants is located on US Hwy. 331, with a 2023 AADT of 12,695 VPD. The building is approximately 4,800 sq. ft. with four +- 1,200 sq. ft. retail suites (100% occupancy). Positioned across from Ramey’s Marketplace and near AutoZone, Luverne Parks & Recreation, DG Market, McDonald's, Jack's, Roses and more.
Investment highlights
- Suite 1: Haynes Ambulance, expiration 11-30-28. Rent $1,250/mo
- Suite 2: State Farm (long-term, credit rated), expiration 12-31-32 with scheduled increase. Rent $1,200/mo
- Suite 3: Between the Rye Sandwich Shop, expiration 10-31-28. Rent $1,200/mo
- Suite 4: Smash Mouth Foods, expiration 12-31-28. New HVAC 2024. Current rent $800/mo through 6-30-26. Stabilized rent $1,250/mo beginning 7-1-26
- Modified Gross Leases
- 9.1% cap rate | NOI $45,601.66
- Positioned along high-visibility corridor on US Hwy 331 with easy access
Listing Contacts
Listed by NAI TALCOR
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$45,601.00
$3,800.08/mo
Valuation Metrics
0
DSCR
9.14%
Cap Rate
9.14%
ROI
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