415 Locust StGadsden, AL 35901

Property Details for 415 Locust St

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.14 AC

Property type

Warehouses

APN

15-02-04-4-000-111.000

APU

1502044000111000

Description

This exceptional Gadsden, Alabama property, located at 415 Locust St (cross streets: North 4th Street), offers 40,000 square feet of retail and special purpose space across two buildings. Built in 1940 and renovated in 2010, this unique multi-tenant property features three suites, with a minimum divisible space of 6,842 square feet and a maximum contiguous space of 20,000 square feet. The zoning is B4 Design Review District (APN: 15-02-04-4-000-111.000). Ideal for a variety of uses, including brewpubs, antique shops, and other retail establishments, the property boasts an open event room with exposed brick, high ceilings, skylights, and barn-style doors leading to an industrial-style interior seating and bar area. Exterior features include a covered dock suitable for outdoor seating and events. Ample on-site parking is available. The landlord is offering tenant improvement allowances and potentially free rent for renovations. Situated in Gadsden's historic downtown district, this property offers easy access to restaurants and other local businesses. This prime location is approximately 56 miles northeast of Birmingham and 90 miles southwest of Chattanooga. This is a rare opportunity to acquire a historically significant property with significant potential for a creative and visionary tenant.

• CAP approach

  CAP return

  Valuation

  6%

  $2,995,520

  6.5%

  $2,765,100

  7%

  $2,567,590

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,628,900

  Geo Method

  $1,950,600

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $1,409,620

  Mixed-Use / Specialty

  $1,398,040

  Hospitality / Lodging

  $1,017,170

  Office

  $1,382,910

  Institutional / Educational

  $1,451,060

  Residential Income

  $1,697,740

  Multifamily

  $2,072,490

  Automotive / Energy

  $1,243,760

  Parking / Income-Based Land

  $435,679

  Restaurant / Food Service

  $713,153

  Healthcare / Senior Housing

  $1,440,380

Location Insight

City

Gadsden

County

Etowah

State

Alabama

Latitude

34.0144

Longitude

-86.0029

CBSA code

23460

CBSA name

GADSDEN, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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