2900 University DrAuburn, AL 36830

Property Details for 2900 University Dr

Year built

2012

Construction

CONCRETE BLOCKS

Lot size

8.50 AC

Property size (Sq ft)

45,600 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

09-04-18-0-000-010-000

APU

904180000010000

Description

This exceptional retail shopping center, the Shops at Cary Creek, presents a prime opportunity for service-based retail or specialty businesses. Located at 2900 E University Dr in Auburn, Alabama, 36830, this Class C property boasts a total of 63,100 square feet on an 8.34-acre lot. Currently, there are 2,800 square feet of vacant space available, with a minimum divisible unit size of 1,400 square feet. The center enjoys a highly desirable location at the corner of N College St & E University Dr, benefiting from exceptional visibility and accessibility. Its proximity to Auburn University, one of the largest universities in the South, with an enrollment of 28,290 students and 5,500 employees, ensures a substantial and consistent customer base. Auburn's status as the fastest-growing MSA in Alabama further underscores the investment potential of this property. The high traffic counts of approximately 22,433 AADT on E University Dr provide significant exposure for businesses operating within the center. This is an ideal location for businesses seeking to capitalize on the vibrant and growing Auburn market. The property is categorized as a multi-tenant shopping center in Lee County.

• CAP approach

  CAP return

  Valuation

  6%

  $8,526,068

  6.5%

  $7,870,217

  7%

  $7,308,058

• Comparable approach

  Method

  Valuation

  Relative Method

  $22,414,734

  Geo Method

  $22,414,734

• Alternative Use

  Use

  Valuation

  Residential

  $6,638,822

  Hospitality

  $6,081,126

  Educational

  $5,059,425

  Medical

  $5,233,426

  Retail

  $7,870,217

Location Insight

City

Auburn

County

Lee

State

Alabama

Latitude

32.6378

Longitude

-85.4799

CBSA code

12220

CBSA name

AUBURN-OPELIKA, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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