Overview

Description

RI Marketplace Online Auction May 13-15, 2024
Register to Bid on Marketplace:

https://rimarketplace.com/auction/1935/0-62-ac-development-site-former-dollar-general-?utm_source=brevitas&utm_medium=listing&utm_campaign=land_1935

Marcus & Millichap and RI Marketplace are pleased to present a ±0.62 AC retail/commercial development opportunity located at 10630 Lamar Parkway in Vance, Tuscaloosa County, Alabama (the “Property”). The Property is offered at a substantial discount and offers an exceptional owner/user or investment opportunity with significant value enhancement potential. FIRST BID MEETS RESERVE!

The Property was originally positioned on ±1.254 acres of land however, the Alabama Department of Transportation, ALDOT, recently acquired ±0.63 acres formerly belonging to the site for $1,067,839.74 for the widening of U.S. Highway 11. The Property was formerly occupied by Dollar General on a triple net lease until ALDOT’s recent acquisition. The current structure was demolished due to the public right of way line being too close to the building. This former Dollar General offers potential investors the ability to acquire a land play that is ideal for future commercial/retail development by an end-user or build-to-suit developer looking to capitalize on the anticipated growth once the US-11 widening project is completed. Costar estimated market retail rents are $17-20/SF NNN. This ±0.62 AC parcel is zoned B-1, Business District, allowing for a variety of potential retail and commercial uses via development.

Vance, Alabama is located between Interstate 20/59 and U.S. Highway 11, along Alabama’s “Automotive Corridor” between two of Alabama’s largest metropolitan areas, Tuscaloosa and Birmingham. Vance is known as a small, friendly community with a vast global presence as home to the Mercedes-Benz U.S. International assembly facility, positioned just a ½-mile from the Property. Located in Tuscaloosa County within the Tuscaloosa MSA, this former Dollar General offers easy accessibility with prime frontage on U.S. Highway 11 (±8,410 VPD) and is positioned less than 3-miles from I-20. Significant growth in industry over the last 25 years has transformed the US-11 corridor from Daimler Benz Blvd. to Highway 5 into one of the most traveled roadways in the region. Because of some much recent economic growth brought by Mercedes-Benz U.S. International, Inc (MBUSI) and higher traffic volume, the Alabama Department of Transportation began the US-11 widening project. The Property is positioned in the immediate path of future development once the Hwy 11 widening project is completed and is anticipated to foster a substantial amount of new growth and economic development to the immediate area. The Property positioned ±28-minutes from Bessemer Municipal Airport, ±25-minutes from downtown Tuscaloosa, and ±35-minutes from Birmingham. Vance Elementary School is located adjacent to the Property (±500 students) and the City of Tuscaloosa with it premier higher education institutions including The University of Alabama serving nearly 40,000 students, Shelton State Community College Community (±7,000 total students), and Stillman College (±900 students) are less than 30-minutes from the Property. In addition to several MBUSI facilities in the area, other major corporate demand drivers proximate to the Property include KyKenKee, a major producer of Wood Products/Wood Byproducts with nearly 700-employees (±3-min); and Brose Tuscaloosa with nearly 700-employees (±5-min). The Property is strategically located in an area that serves nearly 28,500 individuals with an annual household income of ±$83,500 within an expanded 10-mile area.

John Mickey Fowler, Auctioneer
c/o Fisher Auction Company Inc.
AL License: ALSL466

Highlights

• ±0.62 Acre Value-Add Land Opportunity (Former Dollar General site) Available at Substantial Discount Below Market Value
• Development Opportunity with Utilities on Site; Zoned B-1, Community Business District
• Direct Highway Frontage on US Hwy 11 with Road Widening Project Underway; 8,410 VPD Traffic and Excellent Visibility
• Just 0.5-Miles from Mercedes Benz US Assembly Plant
• Absolute $1 Auction – NO RESERVE!

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