Mixed-Use Property with Office
2900 Waverly Parkway, Opelika, AL 36801
For Sale
New
$3,000,000
Commercial Sale, Opelika, AL
Property Size31,029 SF
Lot Size9.40 Acres
Price / SF$96.68
Days on Market1
Property Features for 2900 Waverly Parkway
General Information
Property type
Property subtype
Zoning description
Directions
Standard status
APN
Size
Lot size
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Property Use
Condition
Amenities
individual offices
meeting areas
restrooms
showers
common areas
cafeteria
open grassy areas
Building Details
Year built
Buildings
Listing Agency:
Phoenix Real Estate Firm LLC
Listed By:
Zandra Davis · License AL #000088129
Added: Nov 9
Last Checked: Nov 9 at 7:06PM
MLS# 12061311
Copyright © 2026 My State MLS. 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.
The property spans approximately 9.4 acres and contains a 31,029-square-foot building constructed in 1970. Its layout includes individual offices, larger meeting and gathering rooms, common areas, multiple restrooms, showers, and a cafeteria-style area. Part of the building is used as a daycare center, and approximately 15,000 square feet has received fresh interior paint.
Improvements completed in 2025 on the newer side of the building include a TPO roof, a remodeled kitchen and two bathrooms, new flooring and paint, LED lighting, new rubber base cove, and ceiling tiles replaced as needed. The site also has paved parking and open grassy areas, with frontage on Waverly Parkway in Opelika.
The sale covers the seller-owned parcel and commercial building; the separately owned City Church property and worship building are excluded. Daycare-occupied areas require advance approval and designated showing times. The property is being sold as is.
Improvements completed in 2025 on the newer side of the building include a TPO roof, a remodeled kitchen and two bathrooms, new flooring and paint, LED lighting, new rubber base cove, and ceiling tiles replaced as needed. The site also has paved parking and open grassy areas, with frontage on Waverly Parkway in Opelika.
The sale covers the seller-owned parcel and commercial building; the separately owned City Church property and worship building are excluded. Daycare-occupied areas require advance approval and designated showing times. The property is being sold as is.
Key Highlights
- Approximately 9.4 acres with a 31,029‑square‑foot commercial building
- 2025 improvements on the newer building section include a TPO roof, remodeled kitchen and two bathrooms, new flooring, paint, and LED lighting
- Approximately 15,000 square feet has received fresh interior paint
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
Office B
$5.50M
$4.81M – $6.41M
NOI $384,752 @ 7.0% cap · market cap 12.83%
Second Best
Mixed Use
$3.89M
$3.40M – $4.54M
NOI $272,279 @ 7.0% cap · market cap 9.08%
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Explore this area
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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Interior areas include individual offices, meeting rooms, shared spaces, showers, and a cafeteria-style area.
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: Approximately 9.4 acres with a 31,029‑square‑foot commercial building; 2025 improvements on the newer building section include a TPO roof, remodeled kitchen and two bathrooms, new flooring, paint, and LED lighting; Approximately 15,000 square feet has received fresh interior paint
