1390 S Forest Avenue, Luverne, AL 36049

Building Details

Year Built

1993

Listing agent Shannon Auty Show Phone

Listing office NAI TALCOR Show Phone

Listing date Dec 22, 2024

Source Xome

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Overview

This multi-tenant retail center is located on US Hwy. 331 in Luverne, AL. The building is approximately 4,800 sq. ft. with four retail suites, each approximately 1,200 sq. ft., and is 100% occupied. Anchor tenants include State Farm and Hayne's Ambulance. The property is positioned across from Ramey's Marketplace and near AutoZone, Luverne Parks & Recreation, DG Market, McDonald's, Jack's, and Roses. Suite 1 is leased to Hayne's Ambulance through 11-30-28. Suite 2 is leased to long-term anchor tenant State Farm through 12/31/32 with a scheduled rent increase. Suite 3 is leased to GLG Sandwich Shop through 10-31-28, and Suite 4 is leased to Smash Foods through 12-31-28. A new HVAC was installed in 2024. The 2023 Annual Average Daily Traffic (AADT) is 12,695 vehicles per day. The sale offers a 9% cap rate with a Net Operating Income (NOI) of $45,601.66.

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

-86.263784

Latitude

31.708592

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FAQs

What type of property is this?

Shopping center - Fully occupied retail center with diverse tenants and high visibility.

Where is this shopping center located?

The property is located at 1390 S 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: 9% Cap Rate with NOI of $45,601.66; 100% Occupied Retail Center; Anchor Tenants: **State Farm (leased through 12/31/32 with scheduled rent increase) and Hayne's Ambulance (leased through 11‑30‑28)**