1525 Forest AveMontgomery, AL 36106

Property Details for 1525 Forest Ave

Year built

1996

Lot size

0.65 AC

Property size (Sq ft)

9,569 SF

Zone code

B-2

Property type

Retail space

APN

10-04-17-3-011-008.000

APU

1004173011008000

Description

This fee-simple retail property, a former CVS Pharmacy, presents a compelling value-add investment opportunity. Located at 1525 Forest Ave, Montgomery, AL 36106, this 9,589 square foot building sits on a 0.65-acre lot and boasts a prominent location directly across from Alabama State University. The single-tenant property features a drive-thru and 32 parking spaces. Built in 1996, the building has a current lease with CVS expiring November 2025, generating a net operating income (NOI) of $84,000 annually. The asking price is $1,100,000, translating to $114.71 per square foot. The property is zoned B2 and offers 150 feet of frontage. Real estate taxes are $8,531 annually. This is a triple-net (NNN) lease, meaning the tenant is responsible for property taxes, insurance, and maintenance. The strong location and existing lease provide a solid foundation for future repositioning and potential rental income growth. This is a rare opportunity to acquire a well-located retail property in a growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,822,255

  6.5%

  $1,682,081

  7%

  $1,561,933

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,703,654

  Geo Method

  $4,703,654

• Alternative Use

  Use

  Valuation

  Residential

  $1,418,898

  Hospitality

  $1,299,703

  Educational

  $1,081,338

  Medical

  $1,118,527

  Retail

  $1,682,081

Location Insight

City

Montgomery

County

Montgomery

State

Alabama

Latitude

32.3638

Longitude

-86.2859

CBSA code

33860

CBSA name

MONTGOMERY, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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