1002 Columbus PkwyOpelika, AL 36801

Property Details for 1002 Columbus Pkwy

Year built

1972

Lot size

3.00 AC

Property size (Sq ft)

6,588 SF

Property type

Office properties

Property subtype

Office buildings

APN

10-02-09-3-000-007-000

APU

1002093000007000

Description

This exceptional 3.46-acre property located at 1002 Columbus Parkway in Opelika, Alabama, presents a unique redevelopment opportunity. Currently configured as a multi-building hospitality site (hotel/motel) with four buildings and two stories, it boasts 104 keys and is zoned for commercial use. The property's strategic location offers high visibility and significant traffic exposure, with an estimated Average Annual Daily Traffic (AADT) of approximately 22,911 vehicles. This makes it an ideal site for a variety of commercial ventures. The existing infrastructure provides a solid foundation for a seamless conversion into apartments, capitalizing on the growing demand for housing in the area. The substantial lot size allows for flexibility in design and development, accommodating a large-scale project. This is a rare chance to acquire a well-positioned property in Lee County, Alabama, with immense potential for significant return on investment. The property's existing buildings, while currently used as a hotel/motel, offer a cost-effective starting point for redevelopment, minimizing initial demolition costs. This prime location in Opelika offers easy access to major transportation routes and local amenities, making it an attractive proposition for both residents and businesses. The permitted commercial zoning ensures a wide range of development possibilities, allowing for creative and profitable ventures. This is a truly exceptional opportunity for investors seeking a high-impact redevelopment project in a thriving Alabama market.

• CAP approach

  CAP return

  Valuation

  6%

  $837,954

  6.5%

  $773,496

  7%

  $718,246

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,285,055

  Geo Method

  $1,285,055

• Alternative Use

  Use

  Valuation

  Residential

  $959,135

  Hospitality

  $878,563

  Educational

  $730,954

  Medical

  $756,092

  Retail

  $1,137,039

Location Insight

City

Opelika

County

Lee

State

Alabama

Latitude

32.6446

Longitude

-85.3536

CBSA code

12220

CBSA name

AUBURN-OPELIKA, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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