909 Florence BlvdFlorence, AL 35630

Property Details for 909 Florence Blvd

Year built

1970

Lot size

1.46 AC

Property size (Sq ft)

2,224 SF

Zone code

2

Property type

Retail properties

Property subtype

Turn key restaurants

APN

24-01-11-1-002-007-000

APU

2401111002007000

Description

This exceptional 2,359 square foot commercial property, situated on a 1.46-acre lot at 909 Florence Blvd in Florence, Alabama, presents a compelling investment opportunity. Previously a fast-food restaurant, the building enjoys a prime location directly off a highway exit, ensuring high visibility and easy accessibility. Recent renovations have significantly enhanced the property, including a new TPO roof, new tile flooring, two completely remodeled bathrooms, and a modernized HVAC system with updated ductwork. The interior boasts fresh sheetrock, new molding, updated ceiling tiles, and energy-efficient LED lighting throughout. Adding to the property's income stream is a leased billboard generating $2,000 annually. The expansive lot offers over 340 feet of frontage on Florence Blvd, extending all the way to the highway. The property's strategic location and significant recent improvements make it ideal for a variety of uses. Development potential exists for expansion, with possibilities including a gas station, medical facility, or strip center. The asking price of $825,000 reflects the current state of the ongoing renovations

• CAP approach

  CAP return

  Valuation

  6%

  $691,467

  6.5%

  $638,277

  7%

  $592,686

• Comparable approach

  Method

  Valuation

  Relative Method

  $912,914

  Geo Method

  $1,093,210

• Alternative Use

  Use

  Valuation

  Residential

  $538,411

  Hospitality

  $493,181

  Educational

  $410,321

  Medical

  $424,433

  Retail

  $638,277

Location Insight

City

Florence

County

Lauderdale

State

Alabama

Latitude

34.8136

Longitude

-87.6653

CBSA code

22520

CBSA name

FLORENCE-MUSCLE SHOALS, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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