Building Details

Year Built 2005

Listing Agency: Butler Realty Show Phone

Listed By: Wade Boggs · License #74312 Show Phone

Source: Exitrealty

Added: Nov 28, 2024 Changed: Sep 12 Last Checked: Sep 15 at 6:34AM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Butler Realty

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This former Ruby Tuesday building, suitable for conversion to various restaurant uses, offers approximately 5,000 square feet of space. The property includes a large parking area with approximately 80 spaces. Situated on a corner lot, it features approximately 570 feet of road frontage. The location is convenient to I-65 Exit #351 and is positioned within a strong market in Athens, with several lodging options in the immediate area. Note that the Casa Blanca sign on the pylon does not convey with the property.

Key Highlights

• Easily convertible restaurant space (former Ruby Tuesday).
• Large parking area with approximately 80 spaces.
• Excellent visibility with approximately 570’ of road frontage on a corner lot.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$68,848

Cap Rate

3.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,376,960 $1.4M

Cap Rate 7%

$983,543 $983.5K

Cap Rate 9%

$764,978 $765.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,929 SF

Gross rent

$94.6K $19.20/SF

− Vacancy

−$2.8K −$0.58/SF

EGI

$91.8K $18.62/SF

− OpEx

−$22.9K −$4.66/SF

NOI

$68.8K $13.97/SF

Area

Limestone County, AL

Vacancy

3.00%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,376,960

Cap Rate 7%

$983,543

Cap Rate 9%

$764,978

Alternative Uses

Best Use

Specialty Retail

$983.5K

$860.6K – $1.15M (±1% cap)

NOI $68,848 @ 7.0% cap · market cap 3.13%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.28M

$1.12M – $1.50M (±1% cap)

NOI $89,846 @ 7.0% cap · market cap 4.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Law Firm Parking Lot & Garage Building Supply Storage Facility Kitchen & Bath Showroom Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

254

Businesses Nearby

360k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 84% Shops & Services 11% Hotels & Casinos 4% Apparel 2%

Chick-fil-A Dining

49,882 visits/mo 0.3 miles

McDonald's Dining

35,326 visits/mo 0.3 miles

Cracker Barrel Old Country Store Dining

27,488 visits/mo 0.4 miles

Wendy's Dining

22,313 visits/mo 0.4 miles

Bojangles' Famous Chicken 'n Biscuits Dining

21,794 visits/mo 0.3 miles

Demographics for 35611, AL

27,168

Population

13,709

Households

2

Avg Household Size

41

Median Age

22%

College-Educated

81%

High-School Grad

115.1 sq mi

ZIP Area

236

Density / Sq Mi

$54,606

Median Household Income

$38,872

Median Earnings

$796

Median Rent

$201,700

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Similar For Sale Nearby

See more

Mixed-Use Property with Multiple Improvements

24497 1/2 W Highway 72, Athens, AL 35613

$1,000,000

4,900 SF

View details

Flex Space with Roll-Up Doors

14405 Highway 72, Athens, AL 35611

$660,000

5,176 SF

View details

Multi-Story Office Building

300 N Madison Street, Athens, AL 35611

$675,000

5,400 SF

View details

Flex Building with Covered Area

16097 Parker Road, Athens, AL 35611

$419,900

5,200 SF

View details

Specialty Commercial Property

2113 Jefferson Street, Athens, AL 35611

$1,400,000

3,500 SF

View details

Flexible Mixed-Use Commercial Property

29730 + lot US Highway 72, Athens, AL 35756

$2,000,000

12,000 SF

View details

Mixed-Use Property with Kitchen

17915 W Elm Street, Athens, AL 35611

$864,000

7,200 SF

View details

Corner Storefront Property

810 Highway 72, Athens, AL 35611

$900,000

3,300 SF

View details

Metal Auto Shop with Lifts

14684 Hammons Road, Athens, AL 35611

$220,000

3,900 SF

View details

Convenience Store Property

802 Highway 72 W, Athens, AL 35611

$500,000

2,500 SF

View details

Limestone County Flex Buildings For Sale

Mary Alice Wy, Athens, AL 35611

Contact for pricing

27,400 SF

View details

Warehouse with Fenced Yard

15894 Lucas Ferry Road, Athens, AL 35611

Contact for pricing

54,500 SF

View details

Frequently Asked Questions

What type of property is this?

Restaurant - Freestanding restaurant building with ample parking and road frontage.

Where is this restaurant located?

The property is located at 21366 Athens Limestone Boulevard Athens, AL.

What is the asking price?

The asking price for this property is $2,200,000.

What are key features of this property?

This property features: Easily convertible restaurant space (former Ruby Tuesday).; Large parking area with approximately 80 spaces.; Excellent visibility with approximately 570’ of road frontage on a corner lot.