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    1390 Forest Ave Luverne, AL 36049

    For Sale
    $499,000

    High-Traffic Retail Center, Great NOI

    Property size:
    4,800 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    308
    This exceptional multi-tenant retail center, situated on a 0.36-acre lot at 1390 S Forest Avenue in Luverne, Alabama, presents a compelling investment opportunity. The 4,800 square foot building enjoys a prime location on high-traffic US Highway 331, boasting a 2023 AADT of 12,695 vehicles per day. Currently, the property is 75% occupied, featuring four approximately 1,200 square foot retail suites. A strong anchor tenant, State Farm (credit-rated), occupies one suite under a lease extending to December 31, 2032, with built-in rent increases. Other tenants include a vape shop (lease expiring March 31, 2027) and Bill Henry's Wings (lease expiring July 31, 2026). Suite 4 is vacant, offering a monthly rental rate of $1,250, making it ideal for a new tenant or owner-occupancy. The property benefits from its proximity to numerous established businesses, including Ramey's Marketplace, AutoZone, Luverne Parks & Recreation, DG Market, McDonald's, Jack's, and Roses. A new HVAC system was installed in Suite 4 in 2024. At full occupancy, the property projects a net operating income (NOI) of $47,875.70, representing a 9.6% capitalization rate. This is a rare opportunity to acquire a well-located, income-producing retail center in a thriving Alabama market. The property is offered at $499,000.

    Property Features for 1390 Forest Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    4,800 SF
    Lot Size
    15,682 SF

    Building Details

    Year Built
    1993
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Luverne
    County
    Crenshaw
    State
    Alabama
    Longitude
    -86.2663
    Latitude
    31.69512

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    FAQs

    What type of property is this?
    Commercial real estate - High-Traffic Retail Center, Great NOI
    Where is this commercial real estate located?
    The property is located at 1390 Forest Ave Luverne, AL.
    What is the asking price?
    The asking price for this property is $499,000.
    (334) 699-8000
    Request Owner's contact information
    1390 Forest Ave Luverne, AL 36049
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    Luverne, AL 36049
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    Realmo Value Estimation

    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.

    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.

    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
    1390 Forest Ave Luverne, AL 36049
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