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1390 S Forest Ave
4,800 SF 75% Leased Retail Building Luverne, AL 36049 $499,000 ($104/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 Sq. Ft. end-unit with pick up window on Hwy. 331 with great visibility, and easy access. Previously occupied by Subway and Fountain Bar & Grill, this versatile space is well-suited for restaurant, café, or retail use. Main customer area for dining, retail displays, or customer interaction. Co-tenants include: State Farm, Bill Henry's wings, Sam Vape Store. Nearby Retailers include: Roses, McDonald's, AutoZone, and 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 Sq. Ft. end-unit with pick up window on Hwy. 331 with great visibility, and easy access. Previously occupied by Subway and Fountain Bar & Grill, this versatile space is well-suited for restaurant, café, or retail use. Main customer area for dining, retail displays, or customer interaction. Co-tenants include: State Farm, Bill Henry's wings, Sam Vape Store. Nearby Retailers include: Roses, McDonald's, AutoZone, and Jack's.
PROPERTY TAXES
| Parcel Number | 15-03-05-1-000-018-0000 | Improvements Assessment | $62,360 |
| Land Assessment | $12,020 | Total Assessment | $74,380 |
PROPERTY TAXES
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1390 S Forest Ave
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