Commercial/Retail Income Producing Property for Sale

Retail-Commercial for Sale
Catylist Listing ID: 30741159
Property Subtypes: Convenience Store, Day Care Facility, Free-Standing Building, Parking Facility, Restaurant, Retail-Pad, Service Station/Gas Station, Street Retail, Tavern/Bar/Nightclub, Vehicle Related, Other
Building Size (RSF): 1,772 SF
Gross Land Area: 0.40 Acres
Sale Price: $175,000
Unit Price: $98.76 PSF
Ceiling: 9 ft.
Property Use Type: Net Leased Investment (NNN), Business
Building Name: Title Cash
Usable Size (USF): 1,772 SF
Sale Terms: Undisclosed, Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 7/22/2021

Overview / Comments

EXCELLENT COMMERCIAL SITE IN DOWNTOWN ATMORE WITH INCOME PRODUCING LEASE. The interior of the 1772 square foot building is finished with concrete, paneled walls, vinyl flooring, and fluorescent lighting. The building is completely heated and cooled and currently offers an oversized front space, with one private office, 3 bathrooms and a big storage room/office space at the back of the building. There are 10+ designated parking spaces. The property has a circle drive and additional grass lot. The parking can be expanded easily.

***If you have any inquiries, please do not approach employees or owner at the business. All inquiries to run through the listing broker and the proper channels.

Current Tenants

Tenant Business Name Title Cash
Contact Name HUTCHESON ENTERPRISES
Industry Type Retail Trade
Is Renting? Yes
Annual Revenue $9,600 (Annual)
Employees Total 2
Year Founded 2016
SF of Space Occupied 1,772 SF
Current Rent $800 PSF (Annual)
Lease Expiration 8/2022
Escalations Seller will need notice if the lease agreement is being terminated.
Options Renter is on a 3 year option. The option expires 8/2022. Title Cash leased the building in 2016 for a three year term, and then extended the lease through a 3 year option in 2019.

Additional Details

Nearest MSA: Atmore
County: Escambia
Taxing Authority: Escambia County, AL
Tax ID/APN: 2609292018001001 & 2609292018001002
Zoning: B-2 GENERAL BUSINESS
Retail Clientele: General, Business, Tourist
Property Located Between: First South Properties & Suds-N-Duds Coin Laundry
Property Visibility: Excellent
Largest Nearby Street: Carney Street
Feet of Frontage: 117
Traffic/Vehicle Count: 7,793
Highway Access: Property is located on Hwy 31 which is also known as Nashville Ave. Hwy 21 is two block away. I-65 is 6 miles North.
Airports: Atmore Municipal Airport approx. 6 miles from property. PNS and MOB are approx. a 50 minute drive.
Site Description: Site is level and in close proximity to many other downtown businesses.
Area Description: The largest city in Escambia County, Atmore's development continues attracting growing businesses, new residences and expanding opportunities for current citizens. Atmore is home to a wide range of thriving industries including agriculture, timber, textiles, metal fabrication, and communication companies. City leaders take a proactive approach to industrial recruitment by adding and selling buildings at the 150-acre Industrial Park, along with expanding the Rivercane Development. The City of Atmore works in conjunction with the Atmore Area Chamber of Commerce, the Escambia County Industrial Development Authority, and the Coastal Gateway Regional Economic Development Alliance to attract new business and industry to the area while pursuing marketing strategies which promote the growth of our community and its existing industries. The City and Chamber are also working on beautification and hometown pride initiatives to enhance the downtown business district, as well as commercial and industrial properties. Call now!
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 1,772 SF
Property Condition: Good
Year Built: 1955
Year Renovated: 1999
Construction/Siding: Brick/Vinyl Siding
Exterior Description: Brick and vinyl siding on the perimeter walls, a standing seam metal roof and frame construction on a concrete foundation on grade.
Total Parking Spaces: 10
Parking Type: Surface
Parking Description: There are 10+ designated parking spaces. The property has a circle drive and additional grass lot. The parking can be expanded easily.
Sprinklers: None
Heat Type: Electricity, Hot Water
Heat Source: Central, Heat Pump
Air Conditioning: Other
Internet Access: Cable, Satellite, Fiber Optic
Interior Description: EXCELLENT COMMERCIAL SITE IN DOWNTOWN ATMORE. The interior of the 1772 square foot building is finished with concrete, paneled walls, vinyl flooring, and fluorescent lighting. The building is completely heated and cooled and currently offers an oversized front space, with one private office, 3 bathrooms and a big storage room/office space at the back of the building.
Zoning Description: B-2 General Business District. This district is intended to provide opportunity for activities causing noise and heavy traffic, not considered compatible in the more restrictive business district. These uses also serve a regional as well as a local market and require location in proximity to major transportation routes. Recreational vehicle parks, very light production and processing activities are included.
Lot Frontage: 117
Lot Depth: 164
Water Service: Municipal
Sewer Type: Municipal
Legal Description: (2) Parcels: BEG 152' W OF W/S CARNEY ST & S/S NASHVILLE AVE; S 164.5'; W 66.35'; N 162.5' TO S R/W NASHVILLE AVE; E'LY ALG SD R/W 67 .24' TO POB. BEING A PORTION OF LOTS 4 & 6 AND ALL OF LOT 5 IN BLK 14 ORIGINAL PLAT CITY OF ATMORE PB 2 PG 13 67.24X164.5X66.35X162.5 and BEG @ INT E R/W FRISCO RR & S R/W NASHVILLE AVE; TH E 50'; S 162.5'; W 50' TO E R/W FRISCO RR; N 162.5' TO POB. BEING A PORTION OF LOT 6 IN BLK 14 ORIGINAL PLAT CITY OF ATMORE PB 2-PG 13 50 X 162.5 X 50 X 162.5

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,677 7,118 10,705
Median Age: 34.97 36.8 37.81
Households: 1,103 2,921 4,301

Contact

Photograph of Listing Agent

Patty Helton-Davis

PHD Realty, LLC. Gulf Coast CMLS Member
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