Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Luverne Retail Center For Sale Title is generated by Realmo AI

    1390 Forest Avenue, Luverne, AL 36049

    View on Map
    Claim this Listing
    For Sale
    $499,000

    Commercial Sale - Luverne, AL

    Type:Farm
    Property size:
    4,800 SF
    Lot size:
    0.36 Acres
    Price / SF:
    $103/SF
    Added:
    Apr 14, 2026
    Days on Market:
    40
    Last Refresh:
    May 23 at 12:06 pm

    Property Features for 1390 Forest Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Farm
    Standard status
    Active
    APN
    1503051000018000
    Size
    4,800 SF
    Lot size
    0.36 Acres

    Building Details

    Year built
    1993
    Floors in Building
    1
    Architectural style
    Other

    We can help!

    Listing Contact
    Shannon Auty
    Shannon Auty

    Listing agent Shannon Auty

    Listing office NAI TALCOR 107 Hidden Glen Way, Dothan, AL

    Listing date Apr 14, 2026

    MLS# 202004 Listing URL

    Copyright © 2026 Southeast Alabama Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Excellent 9% Cap Rate with NOI of $45,601.66
    • Anchor tenants include State Farm (leased through 12/31/32 with scheduled rent increase) and Hayne's Ambulance (leased through 11‑30‑28)
    • 100% Occupied with a diverse tenant mix and staggered lease expiration dates
    • Located on US Hwy. 331 with 2023 AADT of 12,695 VPD
    • High‑traffic location across from Ramey's Marketplace and near other businesses and recreation
    • New HVAC installed in 2024

    Overview

    This multi-tenant retail center is located on US Hwy. 331 in Luverne, AL, with a 2023 AADT of 12,695 VPD. The building is approximately 4,800 sq. ft. and contains four retail suites of approximately 1,200 sq. ft. each. The property is 100% occupied and positioned across from Ramey's Marketplace and near AutoZone, Luverne Parks & Recreation, DG Market, McDonald's, Jack's, and Roses. The tenant mix includes Hayne's Ambulance (leased through 11-30-28), State Farm (leased through 12/31/32 with scheduled rent increase), GLG Sandwich Shop (leased through 10-31-28), and Smash Foods (leased through 12-31-28). A new HVAC was installed in 2024. The lot size is 0.36 acres. The property offers a 9% cap rate with NOI of $45,601.66.
    Property Profile Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Luverne
    County
    Crenshaw
    State
    Alabama
    Longitude
    -86.2665179
    Latitude
    31.6974328

    Nearby Similar for Sale

    • $499,900
      2,322 SF

      Dental Office Building on Hwy 331

      Dental office building in Luverne, leased until February 2026.
      1666 S Forest Ave, Luverne, AL 36049
      View Details
    • $295,000
      2,070 SF

      Downtown Luverne Office Complex

      Office complex in downtown Luverne with customer service area.
      171 S Forest Ave, Luverne, AL 36049
      View Details
    • $139,900
      2,839 SF

      Luverne Church with Expansion Potential

      Church with unfinished addition, suitable for office or residential conversion.
      198 Barbara Ave, Luverne, AL 36049
      View Details
    • $739,999
      7,394 SF

      Spacious Multi-Unit Property in Luverne

      16-bedroom, 16-bathroom property ideal for group residence or retreat.
      370 Roy Beall Drive, Luverne, AL 36049
      View Details
    • $250,000
      7,500 SF

      Luverne Commercial Building For Sale

      7500 SF commercial building with retail and office space.
      1257 S Forest Ave, Luverne, AL 36049
      View Details
    • $250,000
      3,500 SF

      Retail Building in Luverne, AL

      3,500 SF retail building with financing options available.
      1253 S Forest Ave, Luverne, AL 36049
      View Details
    • $135,000
      3,080 SF

      Luverne, AL Commercial Building

      Commercial building in Luverne, Alabama featuring multiple classrooms.
      320 Hawkins Ave, Luverne, AL 36049
      View Details
    • $99,900
      1,800 SF

      Remodeled Retail/Office Space in Luverne

      Remodeled commercial building suitable for retail, salon, or office use.
      95 S Forest Ave, Luverne, AL 36049
      View Details
    • $506,685
      4,800 SF

      Luverne Retail Center For Sale

      Fully occupied retail center with diverse tenants and high visibility.
      1390 S Forest Avenue, Luverne, AL 36049
      View Details
    • $250,000
      3,500 SF

      Retail Space For Sale

      Retail space available for purchase.
      1253 S Forest Ave, Luverne, AL 36049
      View Details
    • $819,900

      Luverne Cattle Business Opportunity

      183+- acre property ideal for cattle business.
      4837 Quail Tower Rd, Luverne, AL 36049
      View Details

    FAQs

    What type of property is this?
    Shopping center - Multi-tenant retail center in Luverne, Alabama, 100% occupied.
    Where is this shopping center located?
    The property is located at 1390 Forest Avenue Luverne, AL.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Excellent 9% Cap Rate with NOI of $45,601.66; Anchor tenants include State Farm (leased through 12/31/32 with scheduled rent increase) and Hayne's Ambulance (leased through 11‑30‑28); 100% Occupied with a diverse tenant mix and staggered lease expiration dates
    (334) 406-1161
    We can help!
    Listing Contact
    Shannon Auty
    Shannon Auty
    Real Estate License ID: #139611
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1390 Forest Avenue, Luverne, AL 36049
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!