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    Investment properties

    1499 S College St, Auburn, AL 36832

    9,842 SF 1.82 ac lot Built 1999
    Individually Owned 17-yr Hold Free & Clear
    Property ID
    US03-1818728
    Property summary
    AI-generated overview

    This thriving retail center, Lakeview Shopping Center, presents a compelling investment opportunity. The property boasts a total of 15,800 square feet across two single-story buildings, situated on a generous 1.8-acre lot. Built in 2015, the center currently features a mix of national tenants including Verizon Wireless, Palm Beach Tan, and Smoothie King. A significant portion of the space is currently available for lease, totaling 2,640 square feet. The property is zoned for commercial use and enjoys a highly visible location, approximately 1.5 miles from I-85, benefiting from an impressive average annual daily traffic count of approximately 31,680 vehicles. Its strategic proximity to Auburn University, one of the largest universities in the South with an enrollment of 28,290 students and 5,500 employees, provides a substantial and consistent customer base. This makes the center exceptionally well-suited for service-based retail businesses or specialty shops seeking a vibrant and established market. The available space presents a unique chance to capitalize on the strong demographics and high traffic volume of this rapidly growing area. Auburn is recognized as the fastest-growing metropolitan statistical area in Alabama, offering significant long-term growth potential. This property offers a blend of established tenancy and significant expansion potential.

    Property profile
    Verified
    Property type Investment properties
    Use group STORE/OFFICE (MIXED USE)
    Year built 1999
    Construction CONCRETE BLOCKS
    Total area 9,842 SF
    Lot 1.82 ac (79,279 SF)
    APN 19-01-01-0-000-030-000
    UPID US03-1818728
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Palm Beach Tan Tanning Salon
    • Fuji Sushi Bar Restaurant
    • Number One Properties Real Estate Agency
    • Verizon Mobile Phone Store Electronics & Wireless Store
    • Smoothie King Specialty Food Shop (Bike/Boat/Book/etc) Store
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $970k
    Blend (final) Blend
    $890k
    Owner & transaction history
    Philip D Taft · 17 yrs held
    Philip D Taft
    since 2009
    1 recorded transaction
    2009
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Auto repair, garage $1.0M +40.7%
    Restaurant $975,000 +36.9%
    Try Rey
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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