Mixed-Use Property with
612 Lurleen B Wallace Boulevard N, Tuscaloosa, AL 35401
For Sale
New
$4,795,000
Three commercial buildings combine residential lofts, commercial space, and a dedicated parking area.
Property Size17,480 SF
Price / SF$274.31
Days on Market1
Property Features for 612 Lurleen B Wallace Boulevard N
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Road Access
Mixed-Use Components
Building Details
Buildings
Tenancy
Listing Agency:
HAMNER REAL ESTATE
Listed By:
Jennifer Hamner · License #118501866
(205) 292-6133
Source:
Advantagerealtygroup
Added: Nov 6
Last Checked: Nov 6 at 5:15AM
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 HAMNER REAL ESTATE
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property at 612 Lurleen B Wallace Boulevard N in Tuscaloosa comprises three commercial buildings with seven units, residential lofts, and commercial space. A separate parking lot provides 31 spaces, with vehicle access from 7th Street and Gary Fitts Street.
Key Highlights
- Three commercial buildings containing seven units
- Residential lofts and commercial space
- Parking lot with 31 spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$207,630
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,152,600
$4.2M
Cap Rate 7%
$2,966,143
$3.0M
Cap Rate 9%
$2,307,000
$2.3M
Market Conditions
NOI Build-Up for 17,480 SF
Gross rent
$367.1K $21.00/SF
− Vacancy
−$34.9K −$2.00/SF
EGI
$332.2K $19.01/SF
− OpEx
−$124.6K −$7.13/SF
NOI
$207.6K $11.88/SF
Area
Tuscaloosa, AL
Vacancy
9.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,152,600
Cap Rate 7%
$2,966,143
Cap Rate 9%
$2,307,000
Alternative Uses
Best Use
Mixed Use
$2.97M
$2.60M – $3.46M
NOI $207,630 @ 7.0% cap · market cap 4.33%
Second Best
Retail
$2.80M
$2.45M – $3.27M
NOI $196,300 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$4.20M
$3.68M – $4.90M
NOI $294,042 @ 7.0% cap · market cap 6.13%
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
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,823
Businesses Nearby
184k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 80%
Hotels & Casinos 10%
Shops & Services 10%
McDonald's
Dining
31,349 visits/mo
0.3 miles
Half Shell Oyster House
Dining
15,296 visits/mo
0.2 miles
Hardee's
Dining
13,763 visits/mo
0.2 miles
Dunkin' Donuts
Dining
13,381 visits/mo
0.2 miles
Burger King
Dining
12,540 visits/mo
0.2 miles
Demographics for 35401, AL
41,852
Population
19,517
Households
2.1
Avg Household Size
26
Median Age
27%
College-Educated
85%
High-School Grad
40.1 sq mi
ZIP Area
1,044
Density / Sq Mi
$30,031
Median Household Income
$13,041
Median Earnings
$911
Median Rent
$141,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three commercial buildings combine residential lofts, commercial space, and a dedicated parking area.
Where is this mixed-use property located?
The property is located at 612 Lurleen B Wallace Boulevard N Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $4,795,000.
What are key features of this property?
This property features: Three commercial buildings containing seven units; Residential lofts and commercial space; Parking lot with 31 spaces
