1515 2Nd AveOpelika, AL 36801

Property Details for 1515 2Nd Ave

Year built

1981

Construction

CONCRETE BLOCKS

Lot size

4.53 AC

Property size (Sq ft)

50,749 SF

Property type

Retail properties

Property subtype

Strip malls

APN

09-06-13-1-002-008-000

APU

906131002008000

Description

This prime retail property, Parkway Village, located at 1515 2nd Ave in Opelika, Alabama (zip code 36801), presents a compelling investment opportunity. The shopping center encompasses a total of 59,916 square feet on a 5.15-acre lot in Lee County. Currently, there is 1,000 square feet of vacant space available, ideal for a variety of retail uses. The property's multiple tenancy structure provides a diverse tenant mix, contributing to a stable income stream. The property's location in Opelika offers excellent visibility and accessibility, situated on a major thoroughfare. With its substantial size and strategic location, Parkway Village is well-positioned to attract a wide range of businesses and customers. The existing infrastructure is well-maintained, minimizing immediate capital expenditure needs. This property is an excellent addition to any portfolio seeking strong returns in a thriving retail market. The 1,000 square feet of available space presents an immediate opportunity to increase occupancy and rental income. Serious inquiries are encouraged to explore this exceptional investment opportunity further. Detailed financial information and lease terms are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $9,488,803

  6.5%

  $8,758,895

  7%

  $8,133,260

• Comparable approach

  Method

  Valuation

  Relative Method

  $24,945,732

  Geo Method

  $24,945,732

• Alternative Use

  Use

  Valuation

  Residential

  $7,388,456

  Hospitality

  $6,767,786

  Educational

  $5,630,718

  Medical

  $5,824,368

  Retail

  $8,758,895

Location Insight

City

Opelika

County

Lee

State

Alabama

Latitude

32.6416

Longitude

-85.391

CBSA code

12220

CBSA name

AUBURN-OPELIKA, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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