Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1390 S Forest Ave | Luverne, AL 36049 Luverne, AL 36049
    Back to Search
    Property profile & analytics

    1390 S Forest Ave | Luverne, AL 36049, Luverne, AL 36049

    View on Map
    • Retail residential properties
    For Lease
    View Listing →
    1390 S. Forest Ave, Luverne, AL - Retail Center For Lease
    Contact for pricing

    1390 S. Forest Ave, Luverne, AL - Retail Center

    Retail space for lease

    1390 S Forest Ave | Luverne, AL 36049, Luverne, AL 36049
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail residential properties

    Property Details for 1390 S Forest Ave | Luverne, AL 36049

    Year built
    1993
    Property type
    Retail residential properties
    Property subtype
    Retail properties & Spaces

    Description

    1,200 Sq. Ft. end-unit with pick up window on Hwy. 331 with great visibility, easy access and high traffic counts (12,695 VPD). Previously occupied by Subway and Fountain Bar & Grill, this versatile space is well-suited for restaurant, café, or retail use. Location Description Located on US Hwy. 331 at 1390 S. Forest Ave, Luverne, AL Highlights Main customer area for dining, retail displays, or customer interaction Drive-thru window, small kitchen, 1 restroom New HVAC unit in 2024 Co-tenants: State Farm, Bill Henry's wings, Sam Vape Store Across from Ramey's Marketplace Nearby Retailers include: Roses, McDonald's, AutoZone, Jack's 2023 Traffic Count: 12,695 Vehicles Per Day

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Luverne
    County
    State
    Alabama
    Longitude
    -86.2637
    Latitude
    31.707

    Comparable in this City

    • Value Estimation by Request
      3,500 SF

      1253 Forest Ave

      Individual retail properties
      1253 Forest Ave, Luverne, AL 36049
      View Details
    • Value Estimation by Request
      2,400 SF

      119 Forest Ave

      Individual retail properties
      119 Forest Ave, Luverne, AL 36049
      View Details
    • Value Estimation by Request
      1,369 SF

      Luverne, AL 36049

      STORE/OFFICE (MIXED USE)
      Luverne, AL 36049
      View Details
    • Value Estimation by Request
      3,530 SF

      Luverne, AL 36049

      STORE/OFFICE (MIXED USE)
      Luverne, AL 36049
      View Details
    • Value Estimation by Request
      7,224 SF

      Luverne, AL 36049

      STORE/OFFICE (MIXED USE)
      Luverne, AL 36049
      View Details
    • Value Estimation by Request
      391 SF

      6027 Brantley Hwy

      STORE/OFFICE (MIXED USE)
      6027 Brantley Hwy, Luverne, AL 36049-4216
      View Details

    Similar Nearby for Sale

    • $250,000
      7,500 SF

      Luverne Commercial Building For Sale

      7500 SF commercial building with retail and office space.
      1257 S Forest Ave, Luverne, AL 36049
      View Details
    • $250,000
      3,500 SF

      Retail Building in Luverne, AL

      3,500 SF retail building with financing options available.
      1253 S Forest Ave, Luverne, AL 36049
      View Details
    • $99,900
      1,800 SF

      Remodeled Retail/Office Space in Luverne

      Remodeled commercial building suitable for retail, salon, or office use.
      95 S Forest Ave, Luverne, AL 36049
      View Details
    • Contact for pricing
      4,800 SF

      Luverne Retail Center For Sale

      Fully occupied retail center with diverse tenants and high visibility.
      1390 S Forest Ave, Luverne, AL 36049
      View Details
    • $499,000
      4,800 SF

      Retail Center on US Hwy 331

      Multi-tenant retail center in Luverne, AL with diverse tenants.
      1390 S Forest Ave, Luverne, AL 36049
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space For Sale

      Retail space available for purchase.
      1253 S Forest Ave, Luverne, AL 36049
      View Details
    View Listing
    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.
    1390 S Forest Ave | Luverne, AL 36049
    Luverne, AL 36049
    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
    1390 S Forest Ave | Luverne, AL 36049, Luverne, AL, 36049
    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!