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1390 S Forest Ave
4,800 SF 75% Leased Retail Building Luverne, AL 36049 $715,601 CAD ($149 CAD/SF) 9.60% Cap Rate
Investment Highlights
- 75% occupancy
- High-visibility corridor with easy access
- Located on US Hwy. 331
- 2023 AADT of 12,695 VPD on US Hwy. 331
Executive Summary
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.
Property Facts
Space Availability
- Space
- Size
- Space Use
- Position
- Available
1 200 m2 Unité d'extrémité en pieds avec fenêtre de ramassage sur la route 331 offrant une grande visibilité et un accès facile. Auparavant occupé par Subway et Fountain Bar & Grill, cet espace polyvalent convient parfaitement aux restaurants, cafés ou commerces de détail. Espace client principal pour les repas, les présentoirs de vente au détail ou l'interaction avec les clients. Les colocataires comprennent : State Farm, Bill Henry's wings, Sam Magasin de vape. Les détaillants à proximité comprennent : Roses, McDonald's, AutoZone et Jack's.
| Space | Size | Space Use | Position | Available |
| 4 | 1,200 SF | Restaurant | End Cap | Now |
4
| Size |
| 1,200 SF |
| Space Use |
| Restaurant |
| Position |
| End Cap |
| Available |
| Now |
4
| Size | 1,200 SF |
| Space Use | Restaurant |
| Position | End Cap |
| Available | Now |
1 200 m2 Unité d'extrémité en pieds avec fenêtre de ramassage sur la route 331 offrant une grande visibilité et un accès facile. Auparavant occupé par Subway et Fountain Bar & Grill, cet espace polyvalent convient parfaitement aux restaurants, cafés ou commerces de détail. Espace client principal pour les repas, les présentoirs de vente au détail ou l'interaction avec les clients. Les colocataires comprennent : State Farm, Bill Henry's wings, Sam Magasin de vape. Les détaillants à proximité comprennent : Roses, McDonald's, AutoZone et Jack's.
PROPERTY TAXES
| Parcel Number | 15-03-05-1-000-018-0000 | Improvements Assessment | $89,821 CAD |
| Land Assessment | $17,313 CAD | Total Assessment | $107,135 CAD |
PROPERTY TAXES
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1390 S Forest Ave
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