1375 Federal DrMontgomery, AL 36107

Property Details for 1375 Federal Dr

Year built

1963

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.21 AC

Property size (Sq ft)

23,299 SF

Zone code

B-2

Property type

Strip malls

Property subtype

Neighborhood centers

APN

10-02-04-2-002-002.000

APU

1002042002002000

Description

Montgomery Plaza, located at 1375-1401 Federal Drive in Montgomery, Alabama, presents a compelling investment opportunity. This single-tenant retail strip center encompasses 41,225 square feet across three one-story buildings situated on a 4.08-acre lot. Currently, 22,000 square feet of space is available for lease. The property benefits from a highly desirable location in North Central Montgomery, just 2.2 miles from Interstate 85, ensuring excellent accessibility. The surrounding area boasts strong demographics, with a population of 107,521 within a 5-mile radius and an average household income of $64,687. The property's B2 zoning allows for a variety of commercial uses. Its strategic placement near established businesses, including Walmart and various food outlets, and the ongoing construction of a Circle K next door, further enhances its appeal and potential for growth. The owner is actively seeking tenants and is willing to make significant upgrades to the property to attract suitable businesses. Utilities are readily available. This property offers a unique chance to establish a thriving commercial presence in a vibrant and accessible location. The substantial available space presents a blank canvas for a variety of retail concepts.

• CAP approach

  CAP return

  Valuation

  6%

  $4,436,924

  6.5%

  $4,095,622

  7%

  $3,803,078

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,452,651

  Geo Method

  $11,452,651

• Alternative Use

  Use

  Valuation

  Residential

  $3,454,810

  Hospitality

  $3,164,588

  Educational

  $2,632,900

  Medical

  $2,723,450

  Retail

  $4,095,622

Location Insight

City

Montgomery

County

Montgomery

State

Alabama

Latitude

32.397

Longitude

-86.2735

CBSA code

33860

CBSA name

MONTGOMERY, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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