8111 Highway 119Alabaster, AL 35007

Property Details for 8111 Highway 119

Year built

1985

Lot size

1.11 AC

Property size (Sq ft)

3,256 SF

Property type

Investment properties

Property subtype

Retail residential properties

APN

236232001039017

APU

236232001039017

Description

This exceptional retail property, located at 8111 Highway 119 in Alabaster, Alabama, presents a compelling investment opportunity. Situated on a 1.11-acre lot in Shelby County, this property boasts a prime location on a highly trafficked highway, enjoying exposure to 21,000 vehicles per day. The property comprises two buildings totaling 4,700 square feet of net rentable space. The main building offers 3,500 square feet, complemented by a covered back porch, while a separate 1,200 square foot building provides additional versatility. Built in 2017, this Class C property is currently 100% occupied and features a NNN lease type. The asking price is $775,000, translating to $164.89 per square foot. The property is zoned B-3, allowing for a wide range of uses. Currently configured for a commercial kitchen and a salon, this property offers significant potential for various businesses, including restaurants, bars, retail, office space, or medical/veterinary services. An additional 0.5-acre parcel provides ample space for future development or overflow parking. This property is an ideal choice for investors or owner-users seeking a high-visibility location with significant growth potential in a rapidly expanding area.

• CAP approach

  CAP return

  Valuation

  6%

  $853,936

  6.5%

  $788,249

  7%

  $731,945

• Comparable approach

  Method

  Valuation

  Relative Method

  $822,073

  Geo Method

  $984,429

• Alternative Use

  Use

  Valuation

  Residential

  $788,249

  Hospitality

  $722,032

  Educational

  $600,722

  Medical

  $621,382

  Retail

  $934,456

Location Insight

City

Alabaster

County

Shelby

State

Alabama

Latitude

33.1985

Longitude

-86.8274

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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