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    1470 Main St Centre, AL 35960
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    Property profile & analytics

    1470 Main St, Centre, AL 35960

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    • Lifestyle centers
    • 99,450 SF
    • 9.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cedar Closet / Clothing Store
    • Big & Beautiful Trading Company / Clothing & Fashion Store
    • Brooke's / Clothing & Fashion Store
    • Pic & Save / Grocery & Convenience Store / Food Market
    • Abandoned Storage Finds / Discount Store

    Property Details for 1470 Main St

    Lot size
    9.00 lot acres
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional investment opportunity presents Weiss Lake Plaza, a 99,450 square foot shopping center located at 1470 W Main St, Centre, Alabama, 35960. Priced at $4,950,000, this Class B property boasts a 6.20% cap rate and a strong NOI of $307,019. Currently 88% occupied, the center features 21 units across three single-story buildings situated on a 9-acre lot. Major tenants include Pic-N-Sav Grocery, the USDA Office, and H&R Block, providing a stable income stream. The property benefits from its prime location in Cherokee County's primary retail area, experiencing daily traffic counts exceeding 12,000 vehicles. Its proximity to numerous national retailers such as Walmart Supercenter, O'Reilly Auto Parts, Taco Bell, and Ingles Market further enhances its appeal. Recent capital improvements include a new roof, repaved and restriped parking lot, fresh paint, and HVAC replacements, minimizing future maintenance needs. This fee-simple ownership offers a compelling investment opportunity in a thriving retail market. Detailed rent rolls and interior photos are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Centre
    County
    Cherokee
    State
    Alabama
    Longitude
    -85.7005
    Latitude
    34.1572

    Comparable in this City

    • Value Estimation by Request
      10,500 SF

      8599 Us Highway 411

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      8599 Us Highway 411, Centre, AL 35960
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      6,490 SF

      County Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
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    • Value Estimation by Request
      2,700 SF

      115 Byp Bypass

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      115 Byp Bypass, Centre, AL 35960-1605
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    • Value Estimation by Request
      3,200 SF

      Us Hwy

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      Us Hwy, Centre, AL 35960
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    • Value Estimation by Request
      6,000 SF

      Centre, AL 35960

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      Centre, AL 35960
      View Details
    • Value Estimation by Request
      1,020 SF

      Us Hwy

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      Us Hwy, Centre, AL 35960
      View Details

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      Retail Building with Office and Storage

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      Commercial Property with Development Potential

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    Centre, AL 35960
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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
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