6918 AL Highway 70, Calera, AL 35040 - Industrial property

Detailed information about Industrial property which situated in Calera (35040) city, Alabama state on 6918 AL Highway 70.
The subject's general neighborhood is considered to be the Calera area of Shelby County, which is a part of the larger Highway 31/Interstate 65 corridor. This overall corridor encompasses the entire area between Hoover and Riverchase commercial areas on the north, to the newly developed Calera markets in the south, as well as the surrounding residential areas to the east and west. This corridor is the fastest growing area of Alabama, and included lands in south Jefferson and north Shelby Counties. This growth includes increases in population and commercial basis from new relocations to the area as well as increases resulting from expansions of the corporate limits. Hoover has incorporated many large areas within this corridor, stretching to past the Highway 280 corridor over the past decade, resulting in an impressive commercial and upper value residential base that is now as large as the Birmingham City Limits, with a population greater than that within the Birmingham City Limits. When combined with Pelham, Alabaster, Helena and Calera, this corridor has the majority of the Birmingham MSA population base and growth. The strong financial base resulting from Hoover’s annexations has allowed that city to start its own school system and offer many other high quality municipal services. Excellent access into the area in conjunction with city services from the cities along this corridor, in conjunction with developed commercial districts are the prime reasons for the area's current growth. The future growth is expected to remain strong for the same reasons. The subject's immediate Calera area is just off of the most southern interstate access roads of the corridor. The area has experienced a steady light industrial and commercial growth over the last 2-3 years, with over a dozen new retail industrial businesses built in that time frame. The area has excellent interstate access and is within close proximity of the majority of Birmingham areas. This, coupled with a large amount of development land has helped to foster a growing demand for properties. Prices paid for land that is being utilized for light industrial businesses rival prices paid for commercial retail land in many other areas of Birmingham. The past (prior to the recession) residential growth of the area has also been steady to increasing, with the area having somewhat lower value ranges compared to properties in the northern part of the area. However, there was a good market for medium priced homes, since there are few homes under $150,000 available in the northern part of the subject's area. The subject's area was experiencing a strong growth of homes in the $100,000 to $150,000 price range prior to the recession, with many patio/garden home developments, and plans for additional developments, including one area development planned with over 2500 new homes prior to the recession. The subject’s norther interstate access area (U.S. Highway 31 and I-65) was considered almost dormant of retail commercial uses until the last 2 years. Recent high density developments in the area has sparked a high demand for commercial land along U.S. 31. A Walmart Super Center was completed and opened in the mid 2000's, and over a two dozen new commercial developments followed. County Road 70 is the main east-west access road to Columbiana, the county seat, and serves as the main access route into the central part of the county from interstate access. This results in a high traffic flow for Highway 31 in the immediate area, and is resulting in an increasing demand. The southeast corner at Highway 31 and Highway 70 (about 2/3rd mile from the subject) is the site of a new shopping center anchored by Publix grocery store, which opened in early fall, 2010. This new complex will serve to increase the traffic flow past the subject as Waterford subdivision residents have to pass the subject property to get to the commercial areas (including the Publix).