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    2461 Panther Pkwy Smiths Station, AL 36877

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    For Lease
    Contact for pricing

    High-Visibility Retail Space, Lee County

    Lot size:
    5,000 SF

    Property Features for 2461 Panther Pkwy

    General Information

    Property type
    Shopping malls
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,000 SF

    Spaces For Lease

    at 2461 Panther Pkwy, Smiths Station, AL 36877 Contact us
    Unit

    $9 /Mo

    Size
    5,000 SF
    Contact us

    We can help!

    Listing Contact
    Jonathan Mccall
    Jonathan Mccall

    Listing Agency: Moore Company Realty, Inc. Listing Agent: Jonathan Mccall

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This 5,000 square foot retail space, formerly a pharmacy, boasts a flexible open layout and is ideally situated on Panther Parkway in Lee County, Alabama. The property benefits from excellent visibility, being less than half a mile from Highway 280, which sees an average annual daily traffic count of approximately 27,512 vehicles. A significant advantage is its proximity to the brand new Renfroes Market, opened in Summer 2024, providing strong synergistic retail opportunities. Pylon signage is available, further enhancing visibility and brand recognition. The landlord is open to subdividing the space to accommodate various business needs. The location offers exceptional access to a substantial consumer base. Lee County is home to Auburn University, with over 28,000 students and 5,500 employees, contributing to a large and dynamic local market. Furthermore, the property enjoys convenient proximity to major population centers: approximately 8 miles from Phenix City, Alabama, and 10 miles from Columbus, Georgia, a city known for Fort Moore and its globally recognized urban whitewater course. Columbus offers a diverse range of amenities, including restaurants, accommodations, and year-round events. The property is also within 26 miles of Auburn, Alabama, situated in a rapidly growing metropolitan area with an estimated population of approximately 180,773 and a growth rate of 2.79%. This prime location presents a unique opportunity for businesses seeking high visibility and access to a thriving market.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Map

    City
    Smiths Station
    County
    Lee
    State
    Alabama
    Longitude
    -85.0993338
    Latitude
    32.5392406

    Nearby Similar for Lease

    • Contact for pricing
      8,000 SF

      Smiths Station Office Space

      8,000 sq ft, high-visibility location.
      16583 Us Highway 280, Smiths Station, AL 36877
      View Details

    FAQs

    What type of property is this?
    Shopping mall - High-Visibility Retail Space, Lee County
    Where is this shopping mall located?
    The property is located at 2461 Panther Pkwy Smiths Station, AL.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: 5,000 SF retail space in a single-tenant building.; Former pharmacy with an open layout; landlord open to subdividing.; Anchored by new Renfroes Market (opened Summer 2024).
    (334) 262-1958 Call to check price and availability
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    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
    2461 Panther Pkwy Smiths Station, AL 36877
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    Contact for Pricing
    Please call us for current price
    and status of this listing Jonathan Mccall
    Jonathan Mccall
    Real Estate License ID: 000112821
    (334) 262-1958 (334) 356-3780 (334) 300-8803
    Learn more
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