304 Cumming AveOpp, AL 36467

  • Retail properties
  • 73,900 SF
For Sale
$2,000,000 View listing

Property Details for 304 Cumming Ave

Year built
1970
Lot size
9.60 AC
Property size (Sq ft)
73,900 SF
Property type
Retail properties
Property subtype
Lifestyle centers

Description

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.

304 Cumming Ave, Opp, Alabama

Location Insight

City
Opp
County
Covington
State
Alabama
Latitude
31.2803
Longitude
-86.2524

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