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    602-638 Cherry Dr Dr Lanett, AL 36863

    For Sale
    $1,350,000

    6.79 Acres, 18 Spaces, Strong Income

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    316
    This exceptional 6.79-acre industrial property in Lanett, Alabama, presents a lucrative investment opportunity. Located at 602-638 Cherry Drive, the property encompasses a shopping center featuring 18 total spaces, with 15 currently leased, generating a substantial monthly income of $15,269. Three vacant spaces offer immediate potential for increased revenue, projected at an additional $4,980 per month. The property boasts a prominent anchor tenant, Piggly Wiggly, ensuring consistent traffic and stability. Monthly expenses, encompassing property taxes, insurance, parking lot maintenance (lights and sweeping), lawn service, and local rental taxes, total $4,648. This translates to a significant positive cash flow. The property's size and existing tenant occupancy make it an attractive investment for those seeking a strong return on investment in a thriving commercial area. The seller is open to owner financing, providing a flexible acquisition option. Detailed financial statements are available upon request. This is a rare opportunity to acquire a well-established, income-producing industrial property with significant upside potential. Serious inquiries only.

    Property Features for 602-638 Cherry Dr Dr

    General Information

    Property type
    Industrial properties
    Lot Size
    295,772 SF

    Building Details

    Year Built
    1970
    Property Profile Location Intelligence

    Current Use by Public Records

    Industrial properties

    Map

    City
    Lanett
    County
    CHAMBERS
    State
    Alabama
    Longitude
    -85.19186
    Latitude
    32.87352

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    FAQs

    What type of property is this?
    Industrial property - 6.79 Acres, 18 Spaces, Strong Income
    Where is this industrial property located?
    The property is located at 602-638 Cherry Dr Dr Lanett, AL.
    What is the asking price?
    The asking price for this property is $1,350,000.
    (334) 245-9300
    Request Owner's contact information
    602-638 Cherry Dr Dr Lanett, AL 36863
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    Lanett, AL 36863
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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
    602-638 Cherry Dr Dr Lanett, AL 36863
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