Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Established Shopping Center Investment Opportunity Title is generated by Realmo AI

    87354 US Hwy 278, Altoona, AL 35952

    View on Map
    Claim this Listing
    For Sale
    $724,000

    Shopping center with long-term anchor tenant in Altoona, Alabama.

    Type:Commercial/Industrial
    Added:
    Jun 23, 2025
    Days on Market:
    345
    Last Refresh:
    Apr 7 at 11:03 pm

    Property Features for 87354 US Hwy 278

    General Information

    Standard status
    Active
    Property subtype
    Commercial/Industrial

    We can help!

    Listing Contact
    Mike Fleming

    Listing agent Mike Fleming License #163770

    Listing office Engel & Volkers Huntsville

    Listing date Jun 23, 2025

    Source Exitrealty

    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 Engel & Volkers Huntsville

    HighLights

    • Long‑term anchor tenant (Piggly Wiggly) provides built‑in income.
    • High‑visibility frontage on U.S. Hwy 278.
    • Strategically located in the heart of Altoona.
    • Established shopping center.
    • Strong local and regional traffic.
    • Two inline retail spaces available for lease.

    Overview

    This established shopping center, strategically located in the heart of Altoona, presents an investment opportunity with existing income from a long-term anchor tenant, Piggly Wiggly. The property benefits from high-visibility frontage on U.S. Hwy 278, a highly traveled commercial corridor, ensuring strong local and regional traffic. Two inline retail spaces are available for lease.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Restaurant Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Gym & Fitness Center Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Altoona
    County
    Etowah
    State
    Alabama
    Longitude
    -86.391056
    Latitude
    34.116945

    Nearby Similar for Sale

    • $299,900
      4,900 SF

      Versatile Commercial Property in Altoona

      Commercial property with unlimited potential in a high-traffic location.
      41185 State Highway 75 N, Altoona, AL 35121
      View Details
    • $155,000

      Former Church with Renovation Potential

      Charming former church with hardwood floors and renovation potential.
      220 BURGETT ROAD, ALTOONA, AL 35952
      View Details
    • $174,900
      3,988 SF

      Charming Former Church with Potential

      Spacious property with hardwood floors, updated kitchen, and large sanctuary.
      220 Burgett Road, ALTOONA, AL 35952
      View Details
    • $1,725,000

      Altoona Broiler and Cattle Farm

      Six-house broiler farm with cattle operation on 50 acres.
      760 Burton Loop Road, Altoona, AL 35952
      View Details
    • $1,798,500
      10,500 SF

      New Construction Family Dollar Investment

      Freestanding Family Dollar in Altoona, Alabama with 9-year lease.
      3200 Main Street, Altoona, Alabama, USA, Altoona, AL 35952
      View Details

    FAQs

    What type of property is this?
    Shopping center - Shopping center with long-term anchor tenant in Altoona, Alabama.
    Where is this shopping center located?
    The property is located at 87354 US Hwy 278 Altoona, AL.
    What is the asking price?
    The asking price for this property is $724,000.
    What are key features of this property?
    This property features: Long‑term anchor tenant (Piggly Wiggly) provides built‑in income.; High‑visibility frontage on U.S. Hwy 278.; Strategically located in the heart of Altoona.
    (256) 808-4687
    We can help!
    Listing Contact
    Mike Fleming
    Real Estate License ID: 163770
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    87354 US Hwy 278, Altoona, AL 35952
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!