1499 College StAuburn, AL 36832

Property Details for 1499 College St

Year built

1999

Construction

CONCRETE BLOCKS

Lot size

1.82 AC

Property size (Sq ft)

9,842 SF

Property type

Investment properties

Property subtype

Retail residential properties

APN

19-01-01-0-000-030-000

APU

1901010000030000

Description

This thriving retail center, Lakeview Shopping Center, presents a compelling investment opportunity. The property boasts a total of 15,800 square feet across two single-story buildings, situated on a generous 1.8-acre lot. Built in 2015, the center currently features a mix of national tenants including Verizon Wireless, Palm Beach Tan, and Smoothie King. A significant portion of the space is currently available for lease, totaling 2,640 square feet. The property is zoned for commercial use and enjoys a highly visible location, approximately 1.5 miles from I-85, benefiting from an impressive average annual daily traffic count of approximately 31,680 vehicles. Its strategic proximity to Auburn University, one of the largest universities in the South with an enrollment of 28,290 students and 5,500 employees, provides a substantial and consistent customer base. This makes the center exceptionally well-suited for service-based retail businesses or specialty shops seeking a vibrant and established market. The available space presents a unique chance to capitalize on the strong demographics and high traffic volume of this rapidly growing area. Auburn is recognized as the fastest-growing metropolitan statistical area in Alabama, offering significant long-term growth potential. This property offers a blend of established tenancy and significant expansion potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,552,286

  6.5%

  $1,432,879

  7%

  $1,330,531

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,975,660

  Geo Method

  $2,975,660

• Alternative Use

  Use

  Valuation

  Residential

  $1,432,879

  Hospitality

  $1,312,510

  Educational

  $1,091,993

  Medical

  $1,129,548

  Retail

  $1,698,655

Location Insight

City

Auburn

County

Lee

State

Alabama

Latitude

32.5793

Longitude

-85.496

CBSA code

12220

CBSA name

AUBURN-OPELIKA, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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