1510 Pelham RdJacksonville, AL 36265
- Office properties
- 750 SF
Property Details for 1510 Pelham Rd
- Year built
- 1955
- Lot size
- 0.55 AC
- Property size (Sq ft)
- 750 SF
- Property type
- Office properties
- Property subtype
- Other office properties
- APN
- 12-06-23-4-001-011.000
- APU
- 1206234001011000
Description
This exceptional retail investment opportunity encompasses five lots totaling 3 acres on Highway 21 in Jacksonville, Alabama, near Jacksonville State University (JSU). The property boasts over 550 feet of frontage on a major thoroughfare with a 2021 traffic count of 26,000 vehicles daily on Highway 21 and approximately 500 on Church Street. Currently improved with three single-story buildings totaling 5,430 square feet, the property is 100% occupied, generating a net operating income (NOI) of $27,000 and a 1.94% cap rate. The asking price is $1,395,000, translating to $256.91 per square foot. Built in 1955, the property is zoned B2 General Business, offering flexibility for various uses, including quick-service restaurants (QSR), shopping centers, and storefronts. The property is offered as a fee-simple ownership and can be sold as a whole or divided into five separate parcels. The existing tenants include a mix of businesses, and a car lot business may be available for separate purchase. The location benefits from excellent access to Highway 21 and Church Street, and is situated within a thriving retail corridor near JSU, surrounded by recent developments such as Starbucks, Chick-fil-A, and Taco Bell. This presents a unique opportunity for investors seeking a high-traffic location with potential for significant returns. The property's APN is 1206234001011.000.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $158,628
- 6.5%
- $146,426
- 7%
- $135,967
-
Comparable approach
- Method
- Valuation
- Relative Method
- $122,167
- Geo Method
- $146,295
-
Alternative Use
- Use
- Valuation
- Residential
- $181,568
- Hospitality
- $166,316
- Educational
- $138,373
- Medical
- $143,132
- Retail
- $215,246
Location Insight
- City
- Jacksonville
- County
- Calhoun
- State
- Alabama
- Latitude
- 33.7946
- Longitude
- -85.7606
- CBSA code
- 11500
- CBSA name
- ANNISTON-OXFORD, AL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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