1220 Highland Ave Selma, AL 36703-4124
- Retail space
- 2,902 SF
- 0.52 lot acres
Current Use by Public Records
- AT&T - Internet Service Provider / Internet Service Provider
- AT&T Store / Cell Phone Store / Cell Phone Accessory Store
Property Details for 1220 Highland Ave
- Year built
- 1996
- Lot size
- 0.52 lot acres
- Property size
- 2,902 SF
- Zone code
- S
- Property type
- Retail space
- APN
- 11062440030400000
- APU
- 11062440030400000
Description
This exceptional investment opportunity presents a prime, 2,808-square-foot free-standing retail building in Selma, Alabama. Located at 1220 E Highland Ave, this single-tenant property enjoys a highly visible corner location, attracting 26,650 vehicles daily. The building, constructed in 1998 and renovated in 2018, is currently 100% occupied by AT&T, the only such retailer in Selma. The current lease, a Net Lease (NN) agreement, has a remaining term of 2.8 years, with a three-year option already exercised by the tenant, and one additional three-year option remaining. The property sits on a 22,500-square-foot lot and is zoned for commercial use. The asking price is $999,000, representing a cap rate of 7.57% and a price per square foot of $355.77. The current Net Operating Income (NOI) is $75,578, with a rent bump of $80,472 at the next option. This property benefits from its strategic location within Selma's primary retail area, near major national retailers such as Walmart, T-Mobile, and others, serving a regional trade area encompassing 14 counties and over 350,000 residents. Seller financing is available up to 65% Loan-to-Value (LTV). This is a rare opportunity to acquire a stable, high-performing retail investment in a strong market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,000,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $950,000
- 6.5%
- $970,000
- 7%
- $1,005,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $865,000
- Geo Method
- $915,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $970,000
- Retail
- $995,000
- Mixed-Use
- $1,125,000
- Hospitality
- $985,000
- Educational
- $905,000
- Residential Income
- $910,000
- Energy
- $900,000
- Income-Based Land
- $950,000
- Food Service
- $1,045,000
Location Insight
- Map
- Local Demand
- City
- Selma
- County
- Dallas
- State
- Alabama
- Longitude
- -87.0203
- Latitude
- 32.431
- CBSA code
- 42820
- CBSA name
- SELMA, AL MICROPOLITAN STATISTICAL AREA
