100% Occupied Multi-Tenant Retail Center | Luverne, AL
$506,685
1390 S Forest Ave, Luverne, AL 36049
For Sale
Retail
Strip Center
Active
Last Updated: 11/21/2025
9
Cap Rate
45,601.66
NOI
Details:
Cap Rate: 9%
NOI: $45,601.66
Building Size: 4,800 sqft
Lot Area: 0.36 acres
Class: B
Occupancy: 75%
Units: 4
Year Built: 1993
Parking Spots: 22
Highlights:
- Suite 1: Haynes Ambulance, expiration 11-30-28. Rent $1,250/mo
- Suite 2: State Farm (long-term, credit rated), expiration 12-31-32 with scheduled increase. Rent $1,200/mo
- Suite 3: Between the Rye Sandwich Shop, expiration 10-31-28. Rent $1,200/mo
- Suite 4: Smash Mouth Foods, expiration 12-31-28. New HVAC 2024. Current rent $800/mo through 6-30-26. Stabilized rent $1,250/mo beginning 7-1-26
- Modified Gross Leases
- 9% cap rate | NOI $45,601.66
- Positioned along high-visibility corridor on US Hwy 331 with easy access
Description:
Investment Opportunity: This multi-tenant retail center with State Farm and Haynes Ambulance anchor tenants is located on US Hwy. 331, with a 2023 AADT of 12,695 VPD. The building is approximately 4,800 sq. ft. with four +- 1,200 sq. ft. retail suites (100% occupancy). Positioned across from Ramey’s Marketplace and near AutoZone, Luverne Parks & Recreation, DG Market, McDonald's, Jack's, Roses and more.
Located on US Hwy. 331 at 1390 S. Forest Ave, Luverne, AL
1 Space Available
1390 S Forest Ave, 1390 Strip Center
Available:
Immediately
Sublease:
No
SQFT
1,200
Lease Type:
Gross
Documents:
| Title | ||
|---|---|---|
| Lease Flyer 1390 S. Forest Ave, Luverne, AL | ||
| Luverne_Retail_Center_Sale_Flyer.pdf |
* Documents permissions are set by the listing owner, request information to access locked documents.
Location
Gallery
