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472 N Dean Rd - Towne Center
2,220 SF Office Unit Offered at £286,305 in Auburn, AL 36830
INVESTMENT HIGHLIGHTS
- History of high occupancy within the property
- Well located in the central portion of Auburn near the intersection of N. Dean and Opelika Roads.
EXECUTIVE SUMMARY
Two story office condominium complex in the central portion of Auburn, AL. The building is equipped with an elevator.
PROPERTY FACTS
| Price | £286,305 | Building Class | B |
| Unit Size | 2,220 SF | Number of Floors | 2 |
| No. Units | 1 | Typical Floor Size | 8,269 SF |
| Total Building Size | 16,537 SF | Year Built | 1999 |
| Property Type | Office (Unit) | Lot Size | 1.42 AC |
| Property Subtype | Medical | Opportunity Zone |
Yes
|
| Sale Type | Investment or Owner User |
| Price | £286,305 |
| Unit Size | 2,220 SF |
| No. Units | 1 |
| Total Building Size | 16,537 SF |
| Property Type | Office (Unit) |
| Property Subtype | Medical |
| Sale Type | Investment or Owner User |
| Building Class | B |
| Number of Floors | 2 |
| Typical Floor Size | 8,269 SF |
| Year Built | 1999 |
| Lot Size | 1.42 AC |
| Opportunity Zone |
Yes |
1 UNIT AVAILABLE
Unit 205
| Unit Size | 2,220 SF | Sale Type | Investment or Owner User |
| Price | £286,305 | Net Initial Yield | 7.29% |
| Price Per SF | £128.97 | NOI | £20,883.57 |
| Unit Use | Office | APN/Parcel ID | 43-09-04-20-4-002-029.000-205 |
| Unit Size | 2,220 SF |
| Price | £286,305 |
| Price Per SF | £128.97 |
| Unit Use | Office |
| Sale Type | Investment or Owner User |
| Net Initial Yield | 7.29% |
| NOI | £20,883.57 |
| APN/Parcel ID | 43-09-04-20-4-002-029.000-205 |
DESCRIPTION
Unit 205 of the Towne Center Office Condominium is a second-floor unit containing approximately 2,220 square feet. It is currently divided into two separate spaces containing approximately 960 and 1,260 square feet of gross leasable area, respectively. It is currently 100% occupied. The smaller space is leased through January 31, 2026 and the larger space through December 2026. The units can be converted back into one contiguous space. The building has an elevator, and the condominium unit was renovated in phases between 2021 and 2023. The estimated pro-forma cap rate is based on the income in place and estimated expenses is 7.3%. Based on market conditions, there is projected upside in the future rental income.
ZONING
| Zoning Code | Commercial - CDD (Comprehensive Development District) |
| Commercial - CDD (Comprehensive Development District) |
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472 N Dean Rd - Towne Center
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