Mixed-Use Facility with
2900 WAVERLY Parkway, Opelika, AL 36801
For Sale
New
$3,000,000
Commercial/Industrial, OPELIKA, AL
Property Size31,029 SF
Lot Size9.73 Acres
Price / SF$96.68
Days on Market1
Property Features for 2900 WAVERLY Parkway
General Information
Property type
Property subtype
Directions
Subdivision
Standard status
Size
Lot size
Additional Details
Property Use
Building Details
Year built
Listing Agency:
PHOENIX REAL ESTATE FIRM LLC
(334) 610-3414
Listed By:
ZANDRA DAVIS · License #000088129
(334) 663-8420
Added: Nov 9
Last Checked: Nov 9 at 5:06AM
MLS# 183062
Copyright © 2026 Lee County 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.
At 2900 Waverly Parkway in Opelika, this 31,029-square-foot mixed-use property occupies 9.73 acres. Its existing layout accommodates a daycare center, office space for businesses, and event functions. The building dates to 1970 and is offered in as-is condition.
A newer section received renovations in 2025, including a TPO roof, updated kitchen and two bathrooms, new interior paint and flooring, rubber cove base, LED lighting, and replacement ceiling tiles where needed.
A newer section received renovations in 2025, including a TPO roof, updated kitchen and two bathrooms, new interior paint and flooring, rubber cove base, LED lighting, and replacement ceiling tiles where needed.
Key Highlights
- 9.73‑acre property with 31,029 square feet of building area
- Current uses include a daycare center, business offices, and event space
- Newer building section renovated in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$272,279
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,445,580
$5.4M
Cap Rate 7%
$3,889,700
$3.9M
Cap Rate 9%
$3,025,322
$3.0M
Market Conditions
NOI Build-Up for 31,029 SF
Gross rent
$484.1K $15.60/SF
− Vacancy
−$48.4K −$1.56/SF
EGI
$435.6K $14.04/SF
− OpEx
−$163.4K −$5.27/SF
NOI
$272.3K $8.77/SF
Area
Lee County, AL
Vacancy
10.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,445,580
Cap Rate 7%
$3,889,700
Cap Rate 9%
$3,025,322
Alternative Uses
Best Use
Mixed Use
$3.89M
$3.40M – $4.54M
NOI $272,279 @ 7.0% cap · market cap 9.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.57M
$6.62M – $8.83M
NOI $529,747 @ 7.0% cap · market cap 17.66%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
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Business Placement
Demographics for 36801, AL
24,590
Population
11,363
Households
2.2
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
78.3 sq mi
ZIP Area
314
Density / Sq Mi
$58,256
Median Household Income
$39,018
Median Earnings
$926
Median Rent
$211,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines childcare, business offices, and event space across a substantial campus.
Where is this mixed-use property located?
The property is located at 2900 WAVERLY Parkway Opelika, AL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 9.73‑acre property with 31,029 square feet of building area; Current uses include a daycare center, business offices, and event space; Newer building section renovated in 2025
