1220 Highland AveSelma, AL 36703

Property Details for 1220 Highland Ave

Year built

1996

Lot size

0.52 AC

Property size (Sq ft)

2,902 SF

Zone code

S

Property type

Retail space

APN

11062440030400000

APU

11062440030400000

Description

This exceptional investment opportunity presents a prime, 2,808-square-foot free-standing retail building in Selma, Alabama. Located at 1220 E Highland Ave, this single-tenant property enjoys a highly visible corner location, attracting 26,650 vehicles daily. The building, constructed in 1998 and renovated in 2018, is currently 100% occupied by AT&T, the only such retailer in Selma. The current lease, a Net Lease (NN) agreement, has a remaining term of 2.8 years, with a three-year option already exercised by the tenant, and one additional three-year option remaining. The property sits on a 22,500-square-foot lot and is zoned for commercial use. The asking price is $999,000, representing a cap rate of 7.57% and a price per square foot of $355.77. The current Net Operating Income (NOI) is $75,578, with a rent bump of $80,472 at the next option. This property benefits from its strategic location within Selma's primary retail area, near major national retailers such as Walmart, T-Mobile, and others, serving a regional trade area encompassing 14 counties and over 350,000 residents. Seller financing is available up to 65% Loan-to-Value (LTV). This is a rare opportunity to acquire a stable, high-performing retail investment in a strong market.

• CAP approach

  CAP return

  Valuation

  6%

  $596,825

  6.5%

  $550,916

  7%

  $511,565

• Comparable approach

  Method

  Valuation

  Relative Method

  $507,394

  Geo Method

  $1,426,482

• Alternative Use

  Use

  Valuation

  Residential

  $464,718

  Hospitality

  $425,679

  Educational

  $354,160

  Medical

  $366,340

  Retail

  $550,916

Location Insight

City

Selma

County

Dallas

State

Alabama

Latitude

32.431

Longitude

-87.0203

CBSA code

42820

CBSA name

SELMA, AL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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