1390 S Forest Avenue Luverne, AL 36049

Building Details

Year built

1993

Floors in Building

1

Listing Agency NAI TALCOR Show Phone

107 Hidden Glen Way, Dothan, AL

Listed by Shannon Auty · License #139611 Show Phone

Added: Dec 23, 2024 Checked: Jul 16 at 9:06 pm

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MLS# 202004

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.

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Investment Insights

Based on property information with market context.

This multi-tenant retail center is located on US Hwy. 331 in Luverne, AL. Anchor tenants include State Farm and Hayne's Ambulance. The building is approximately 4,800 sq. ft. with four retail suites, each +- 1,200 sq. ft. The property is 100% occupied. The location is across from Ramey's Marketplace and near AutoZone, Luverne Parks & Recreation, DG Market, McDonald's, Jack's, and Roses. The tenant mix includes: Suite 1 (Hayne's Ambulance) leased through 11-30-28, Suite 2 (long-term anchor tenant State Farm) leased through 12/31/32 with a scheduled rent increase, Suite 3 (GLG Sandwich Shop) leased through 10-31-28, and Suite 4 (Smash Foods) leased through 12-31-28. A new HVAC was installed in 2024. The property is situated on a 0.36-acre lot and experiences an average annual daily traffic count of 12,695 vehicles. The sale offers a 9% cap rate with a net operating income of $45,601.66.

Key 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

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FAQs

What type of property is this?

Shopping center - Multi-tenant retail center in Luverne, AL with diverse tenants.

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: 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