For Sale
$2,000,000

304 Cumming AveOpp, AL 36467

High-Yield Retail Center, 100% Occupied

Overview

Added:
Dec 11, 2024
Days on market:
116
Lemar Plaza, a 73,900 square foot retail center in Opp, Alabama, presents a compelling investment opportunity. This multi-tenant property boasts 100% occupancy, generating a strong net operating income (NOI) of $172,120 and an 8.61% capitalization rate. The asking price is $2,000,000, translating to $27.06 per square foot. Built in 1970, the center sits on a 9.6-acre lot at 304 E Cumming Ave, Opp, AL 36467. Five tenants currently occupy the space, including a mix of grocery, retail, and storefront businesses. The property enjoys high visibility and traffic, attracting over 160,000 customers annually, generating approximately $2.7 million in annual sales. Its strategic location offers easy access for residents from surrounding communities, facilitated by multiple entrances and exits, and ample parking. Convenient proximity to major transportation routes, including Highway 331 (approximately 1 mile away), further enhances its appeal. The center is also conveniently located within driving distance of Andalusia, AL (approximately 16 miles), Enterprise, AL (approximately 26 miles), and the Florida state line (approximately 26 miles). This well-established retail center offers a stable income stream and significant growth potential.

Highlights

  • 73,900 SF retail center in Opp, AL with 100% occupancy.
  • Strong NOI of $172,120 and 8.61% cap rate.
  • Asking price: $2,000,000 ($27.06/SF).
  • Located on a 9.6-acre lot at 304 E Cumming Ave, Opp, AL 36467.
  • Five tenants, including grocery, retail, and storefront businesses.

Property Details for 304 Cumming Ave

Property type
Lifestyle centers, Power centers
Square Feet
73,900 SF
Year Built
1970
Lot Size (sq. ft)
418,176 SF

Location Insight

City
Opp
County
Covington
State
Alabama
Latitude
31.2803076
Longitude
-86.2524516
304 Cumming Ave, Opp, Alabama

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304 Cumming Ave
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