201 Bayles StAnderson, AL 35610
- Retail properties
- 32,237 SF
Property Details for 201 Bayles St
- Year built
- 1950
- Lot size
- 2.09 AC
- Property size (Sq ft)
- 32,237 SF
- Property type
- Retail properties
- Property subtype
- Community centers
- APN
- 01-08-33-1-001-011-001
- APU
- 108331001011001
Description
This exceptional mixed-use property, The Anderson Center, presents a compelling investment opportunity. Originally constructed in 1933 and extensively renovated in 2022, this 32,237 square foot building sits on a 2-acre lot at 201 Bayles St, Anderson, AL 35610. Currently operating as a thriving wedding venue, the property also generates income from leased business office spaces and 19 newly constructed self-storage units. The wedding venue offers diverse settings for various wedding styles, ensuring consistent revenue. The addition of the storage units represents a significant unrealized income potential, poised to substantially increase the property's profitability upon full occupancy. The property boasts a current NOI of $89,000, yielding a 10.47% cap rate. Pro-forma projections indicate a NOI of $108,800 and a 12.80% cap rate, reflecting the substantial upside potential from the soon-to-be-leased storage units. This turnkey operation offers multiple income streams, providing a stable and growing investment opportunity. The asking price is $850,000. Further details are available upon request.
Location Insight
- City
- Anderson
- County
- Lauderdale
- State
- Alabama
- Latitude
- 34.9245
- Longitude
- -87.2673
- CBSA code
- 22520
- CBSA name
- FLORENCE-MUSCLE SHOALS, AL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
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