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Luverne Cleaners 119 S Forest Ave

2,112 SF Vacant Retail Building Luverne, AL 36049 $135,000 ($64/SF) 5.56% Cap Rate

Investment Highlights

  • This is the only cleaners in Crenshaw County with 18,000 residents
  • Very low over head
  • Property comes complete with all equipment needed to open.

Executive Summary

The business has now closed and some of the equipment has been sold. Please call as the owner said they may can replace the equipment with new if you are willing to put back in business the Dry Cleaners.

Attachments

Luverne Cleaners Info Page

Property Facts

Sale Type
Investment or Owner User
Sale Condition
Business Value Included
Property Type
Retail
Building Size
2,112 SF
Building Class
C
Year Built/Renovated
1920/2021
Price
$135,000
Price Per SF
$64
Cap Rate
5.56%
NOI
$7,500
Business Value
$150,000
Percent Leased
Vacant
Building Height
1 Story
Building FAR
0.48
Lot Size
0.10 AC
Opportunity Zone
Yes
Zoning
Yes - Located in Downtown Luverne with city ordinances.
Parking
4 Spaces (1.67 Spaces per 1,000 SF Leased)

About 119 S Forest Ave , Luverne, AL 36049

Lock and key operation. This commercial property has everything you need to reopen the Luverne Cleaners and be in business. It has been in business for over 50 years and is a staple in the downtown Luverne district. It has been run by the same family for the past 30 years, and it is time to retire. Building incudes: Alteration department with sewing machines and supplies with a hemming machine, surger and plain sewer. There is a “Susie” for steaming coats and dresses, steam presses, legger and mushroom, vacuum for pressors, hot head press with double legger and topper. Also includes a collar press, shirt presser, gas commercial dryer, 35# commercial washer, Maytag washer, spinner, dryer for cleaning fluid, dry clean machine, gas Hurst boiler, sorting out buggies, and air compressor. The building has an office, storage room, and a front area for customers to pick up their dry cleaning. They have a repairman from Prattville that services all the equipment. This one is a great commercial opportunity. It is located in section 33, township 9 north, range 18 east at latitude 31.7144 longitude -86.2637.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
12-08-33-2-004-043-0000
Land Assessment
$1,420
Improvements Assessment
$10,660
Total Assessment
$12,080
  • Listing ID: 27205055

  • Date on Market: 11/29/2022

  • Last Updated:

  • Address: 119 S Forest Ave, Luverne, AL 36049

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