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    304 Cumming Ave Opp, AL 36467

    Sponsored
    For Sale
    $2,000,000

    High-Yield Retail Center, 100% Occupied

    Property size:
    73,900 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Lemar Plaza, a 73,900 square foot retail center in Opp, Alabama, presents a compelling investment opportunity. This multi-tenant property boasts 100% occupancy, generating a strong net operating income (NOI) of $172,120 and an 8.61% capitalization rate. The asking price is $2,000,000, translating to $27.06 per square foot. Built in 1970, the center sits on a 9.6-acre lot at 304 E Cumming Ave, Opp, AL 36467. Five tenants currently occupy the space, including a mix of grocery, retail, and storefront businesses. The property enjoys high visibility and traffic, attracting over 160,000 customers annually, generating approximately $2.7 million in annual sales. Its strategic location offers easy access for residents from surrounding communities, facilitated by multiple entrances and exits, and ample parking. Convenient proximity to major transportation routes, including Highway 331 (approximately 1 mile away), further enhances its appeal. The center is also conveniently located within driving distance of Andalusia, AL (approximately 16 miles), Enterprise, AL (approximately 26 miles), and the Florida state line (approximately 26 miles). This well-established retail center offers a stable income stream and significant growth potential.

    Property Features for 304 Cumming Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    73,900 SF
    Lot Size
    418,176 SF

    Building Details

    Year Built
    1970

    HighLights

    • 73,900 SF retail center in Opp, AL with 100% occupancy.
    • Strong NOI of $172,120 and 8.61% cap rate.
    • Asking price: $2,000,000 ($27.06/SF).
    • Located on a 9.6‑acre lot at 304 E Cumming Ave, Opp, AL 36467.
    • Five tenants, including grocery, retail, and storefront businesses.
    Property Profile Location Intelligence

    Current Use by Public Records

    NAPA Auto Parts ... Auto Parts Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Opp
    County
    Covington
    State
    Alabama
    Longitude
    -86.2524516
    Latitude
    31.2803076

    Nearby Comparable

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      Andalusia Commercial Property For Sale

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    Nearby Similar for Sale

    • $75,000
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      Land for Church or Investment

      2-acre lot ideal for church or investment in Opp, AL.
      810 Maude Ave, Opp, AL 36467
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    • $2,520,000

      Industrial Property with Crane Access

      Industrial property featuring cranes, loading docks, and ample parking.
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    • $2,070,000

      Industrial Warehouse with High Capacity Power

      Warehouse with high bay LED lighting, fenced yard, electric gate.
      18361 Galileo Dr, Opp, AL
      View Details
    • $1,370,000
      8,353 SF

      Alabama Grocery Store Investment

      High-yield NNN lease, strong tenant.
      303 Main St, Opp, AL 36467
      View Details
    • $2,520,000
      56,593 SF

      Opp, AL Industrial/Office Complex

      Prime 56,593 SF building, 22.9 acres. Excellent investment.
      200 Hattaway Rd, Opp, AL 36467
      View Details
    • $2,070,000
      54,162 SF

      Opp, AL Warehouse - $2.07M

      Modern warehouse, 54,162 SF, 6.37 acres.
      18361 Galileo Dr, Opp, AL 36467
      View Details

    FAQs

    What type of property is this?
    Lifestyle center - High-Yield Retail Center, 100% Occupied
    Where is this lifestyle center located?
    The property is located at 304 Cumming Ave Opp, AL.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: 73,900 SF retail center in Opp, AL with 100% occupancy.; Strong NOI of $172,120 and 8.61% cap rate.; Asking price: $2,000,000 ($27.06/SF).
    Request Owner's contact information
    304 Cumming Ave Opp, AL 36467
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    Realmo Value Estimation

    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.

    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.

    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
    304 Cumming Ave Opp, AL 36467
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