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1007 Water Ave
4,800 - 17,640 SF of Retail Space Available in Selma, AL 36701
Highlights
- Ground floor totals 5,505 square feet, with Approximately 4,800 square feet leasable with restaurant space available
- The third floor is being offered as 5,505 square feet banquet hall and event parlor space
- The second floor comprised of a 6,106 square foot event parlor, a balcony and short term residential spaces.
- Three stories above grade, plus a Utility Basement
Space Availability (3)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 4,800 SF | Negotiable | $35.44 CAD/SF/YR $2.95 CAD/SF/MO $381.42 CAD/m²/YR $31.79 CAD/m²/MO $14,174 CAD/MO $170,090 CAD/YR | Triple Net (NNN) | ||
| 2nd Floor | 7,335 SF | Negotiable | $26.93 CAD/SF/YR $2.24 CAD/SF/MO $289.88 CAD/m²/YR $24.16 CAD/m²/MO $16,462 CAD/MO $197,539 CAD/YR | Triple Net (NNN) | ||
| 3rd Floor | 5,505 SF | Negotiable | $26.93 CAD/SF/YR $2.24 CAD/SF/MO $289.88 CAD/m²/YR $24.16 CAD/m²/MO $12,355 CAD/MO $148,255 CAD/YR | Triple Net (NNN) |
1st Floor
Ground floor totals 5,505 square feet, with Approximately 4,800 square feet leasable with restaurant space available.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Restaurant or Café Space
- Located in-line with other retail
2nd Floor
The second floor comprised of a 6,106 square foot event parlor, a balcony and short term residential spaces
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as Standard Retail Space
- Located in-line with other retail
3rd Floor
The third floor is being offered as 5,505 square feet banquet hall and event parlor space.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Drinking Establishment
- Located in-line with other retail
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS FOR 1007 Water Ave , Selma, AL 36701
| Property Type | Retail | Year Built | 1908 |
| Gross Leasable Area | 19,016 SF | Parking Ratio | 1.1/1,000 SF |
| Property Type | Retail |
| Gross Leasable Area | 19,016 SF |
| Year Built | 1908 |
| Parking Ratio | 1.1/1,000 SF |
About the Property
The Harmony Club was built in 1909 as a Jewish social club by Selma’s early Jewish organization of the same name. The club featured a restaurant, men’s lounge and huge ballroom. While the first floor was rented to retail businesses, the second floor featured the restaurant and lounge. The lounge, where members played pool, poker and slot machines, was off limits to their wives, but everyone was welcome on the third floor where many dances and parties were held in the ballroom. The Elks Club occupied the building from the 1930s until 1960. The three-story building will be restored to highlight the cast iron and stone accents of its façade, while the interior of the structures will be repurposed into a boutique hotel serving visitors and tourists of downtown Selma. The building’s ground floor will house a restaurant / bar for hotel patrons and Selma residents alike, while the upper 2nd and 3rd floors will add additional hotel rooms and event space to downtown Selma.
-
Louise Jennings-McCullar -
Real Estate Southeast
Presented by
1007 Water Ave
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