304 Cumming Ave Opp, AL 36467
- Lifestyle centers
- 73,900 SF
- 9.60 lot acres
Current Use by Public Records
- NAPA Auto Parts - Bowers Auto Parts / Trailer Supply Store / Truck Accessories Store
Property Details for 304 Cumming Ave
- Year built
- 1970
- Lot size
- 9.60 lot acres
- Property size
- 73,900 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Opp
- County
- Covington
- State
- Alabama
- Longitude
- -86.2524
- Latitude
- 31.2803
