10109 Highway 64Lexington, AL 35648

Property Details for 10109 Highway 64

Year built

1980

Lot size

1.10 AC

Property size (Sq ft)

2,000 SF

Zone code

1

Property type

Office buildings

APN

02-05-15-2-001-012-000

APU

205152001012000

Description

This exceptional 4,000 square foot commercial building, situated on a 1.1-acre lot in the heart of Lexington, Alabama, presents a remarkable investment opportunity. The property has undergone a complete renovation, boasting brand new furniture, lighting, HVAC system, and roof. The main building currently houses the "Blue Agave Restaurant," featuring an attractive dining area, a clean and modern kitchen, and updated restrooms. A significant advantage is the inclusion of a full basement, partially finished and plumbed for a restroom, providing ample storage space. The property's prime location in the town center ensures high visibility and accessibility. The exterior improvements include a large, newly constructed deck. This property is priced significantly below its recent appraisal of $535,000, making it an attractive proposition for both investors seeking a strong return and business owners looking for a turn-key operation. The combination of a recently renovated building, ample space, and a desirable location makes this a truly unique opportunity in the Lexington commercial real estate market. The 1.1-acre lot offers potential for future expansion or development. This is a rare chance to acquire a high-quality commercial property at a substantially discounted price.

• CAP approach

  CAP return

  Valuation

  6%

  $423,009

  6.5%

  $390,470

  7%

  $362,579

• Comparable approach

  Method

  Valuation

  Relative Method

  $325,780

  Geo Method

  $390,120

• Alternative Use

  Use

  Valuation

  Residential

  $484,182

  Hospitality

  $443,508

  Educational

  $368,994

  Medical

  $381,684

  Retail

  $573,990

Location Insight

City

Lexington

County

Lauderdale

State

Alabama

Latitude

34.9723

Longitude

-87.3705

CBSA code

22520

CBSA name

FLORENCE-MUSCLE SHOALS, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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