901 Lake MallBessemer, AL 35020

Property Details for 901 Lake Mall

Year built

1969

Lot size

1.55 AC

Property size (Sq ft)

12,480 SF

Zone code

SC3

Property type

Medical offices

Property subtype

Medical centers

APN

38-00-08-4-003-005.000

APU

3800084003005000

Description

This exceptional 12,000-square-foot vacant storefront, located at 901 W Lake Mall in Bessemer, Alabama (zip code 35020), presents a compelling investment opportunity. Situated on a sizable 1.55-acre lot, this Class D property offers significant redevelopment potential. Originally built in 1969 and renovated in 1973, the building previously housed a DaVita Dialysis Clinic. The asking price is $325,000, translating to an attractive price per square foot of $27.08. The property's strategic location directly in front of Westlake Mall, currently undergoing a transformation into a large industrial facility, promises substantial future value appreciation. This prime location, coupled with its designation as an Opportunity Zone, makes this a highly attractive investment for developers seeking a high-return project. The net rentable area is 12,480 square feet. The property is currently vacant, offering a blank canvas for a variety of commercial uses. This is a rare chance to capitalize on the revitalization of Westlake Mall and the benefits of an Opportunity Zone designation. Don't miss this chance to acquire a significant property in a rapidly developing area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,991,520

  6.5%

  $2,761,400

  7%

  $2,564,160

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,032,870

  Geo Method

  $2,434,350

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,521,350

  Retail / Commercial

  $2,814,720

  Mixed-Use / Specialty

  $2,791,610

  Hospitality / Lodging

  $2,031,090

  Institutional / Educational

  $2,897,470

  Residential Income

  $3,390,040

  Multifamily

  $4,138,340

  Automotive / Energy

  $2,483,550

  Parking / Income-Based Land

  $869,964

  Restaurant / Food Service

  $1,424,020

  Healthcare / Senior Housing

  $2,876,150

Location Insight

City

Bessemer

County

Jefferson

State

Alabama

Latitude

33.3949

Longitude

-86.9718

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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