Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    12334 Us Highway 231 South Troy, AL 36081

    View on Map
    Sponsored
    For Sale
    $320,000

    Commercial - Troy, AL

    Property size:
    1,851 SF
    Lot size:
    1.40 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 14 at 9:06 pm

    Property Features for 12334 Us Highway 231 South

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Interior features
    Inside Storage, 220 Volts, Single Phase, Living Space Available
    Exterior features
    Partially Fenced, Additional Buildings, Landscaped, Land Up To 5 Acres
    Fencing
    Fenced, Partial
    Size
    1,851 SF
    Lot size
    1.40 Acres

    Utilities

    Heating system
    Central, Electric (Heating), Heat Pump (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Heat Pump

    Building Details

    Year built
    1956
    Floors in Building
    1
    Flooring type
    Vinyl
    Building materials
    Brick, Brick Veneer
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    LUCILLE BLAIR

    ACTION REALTY OF TROY (334) 566-1177

    Listing agent LUCILLE BLAIR (334) 372-4545

    Listing date Mar 13, 2026

    MLS# 30423 Listing URL

    Copyright © 2026 Pike County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Troy Commercial Property with Residence

    This commercial property in Troy, AL, presents an investment opportunity with a renovated home and potential rental income. The property includes a home that was renovated in 2021 with updated plumbing, wiring, sheetrock, LVP flooring, insulation, stainless appliances, AC, roof, septic system, and paint. The 1990 mobile home on the property requires some TLC and could potentially be rented for $650 to $800. The home has been rented for $1,600. The property is situated among commercial businesses such as a vet office, trucking company, antique mall, vegetable stand, and tractor sales. The lot size is 1.4 acres. The property size is 1851 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Restaurant Hair Salon Hotel & Motel Department Store Food Market Storage Facility HVAC Service Grocery & Convenience Store Garden Center Discount Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Pike
    State
    Alabama
    Longitude
    -85.6911974
    Latitude
    31.4934794

    Nearby Similar for Sale

    • $2,200,000
      8,800 SF

      Retail Property with Development Potential

      Retail property on 14 acres with development potential in Troy.
      1319 S Brundidge St, Troy, AL 36081
      View Details
    • $195,500
      1,425 SF

      Office/Residential Property in Troy, AL

      Versatile commercial property with potential for office or residential use.
      2366 Al Highway 87, Troy, AL 36079
      View Details
    • $599,000
      7,504 SF

      Troy Commercial Corner Property

      Highly visible commercial property on 2+/- acres in Troy.
      101 N And W Fairview St, Troy, AL 36081
      View Details
    • $399,000
      7,200 SF

      Troy Commercial Building For Sale

      7,200 sq ft commercial building in the heart of Troy.
      210 S 3 Notch St, Troy, AL 36081
      View Details
    • $375,000
      2,004 SF

      Troy Commercial Space For Sale

      Commercial space suitable for medical or office use in Troy.
      101 Hunters Mountain Pkwy, Troy, AL 36079
      View Details
    • New
      $440,000
      3,155 SF

      Troy Commercial Property For Sale

      Commercial property with home and office/warehouse buildings on 1 acre.
      303 Corman Ave, Troy, AL 36081
      View Details
    • $650,000
      2.00 Acres

      Commercial Corner Property in Troy

      Highly visible commercial corner property with ample parking and loading.
      101 N And W Fairview St, Troy, AL 36081
      View Details
    • $175,000
      4,530 SF

      Troy Commercial Property For Sale

      Commercial property in Troy, Alabama, suitable for various businesses.
      2006 N 3 Notch St, Troy, AL 36081
      View Details
    • $295,000
      19,800 SF

      Established Day Care Business Opportunity

      Day care business with building, equipment, and inventory for sale.
      409 North 3 Notch St, Troy, AL 36081
      View Details
    • $1,074,000

      Medical Office Building on Highway

      Medical office building with lease in place through April 2026.
      889 Elba Hwy, Troy, AL 36079
      View Details
    • $750,000
      2.80 Acres

      Troy, AL - Detached Units

      Seven single-family houses on R2 zoned land in Troy.
      204 Corman Ave, Troy, AL 36081
      View Details
    • New
      $1,250,000

      Trojan Station RV Park

      Newly developed RV park near Troy University and Troy Sportsplex.
      2282 Al-87 Troy Al 36079, Troy, AL 36079
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Commercial property with renovated home and additional rental mobile home.
    Where is this mixed-use property located?
    The property is located at 12334 Us Highway 231 South Troy, AL.
    What is the asking price?
    The asking price for this property is $320,000.
    What are key features of this property?
    This property features: - Completely renovated in 2021: featuring new plumbing, wiring, sheetrock, LVP flooring, insulation, stainless appliances, AC, roof, septic & paint.; - Potential for rental income: currently rented for $1,600.; - Additional rental income possible: 1990 mobile home on property could be rented for $650-$800 with TLC.
    (334) 566-1177
    Request Owner's contact information
    12334 Us Highway 231 South Troy, AL 36081
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    12334 Us Highway 231 South
    Troy, AL 36081
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    12334 Us Highway 231 South Troy, AL 36081
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    LUCILLE BLAIR
    (334) 566-1177 (334) 372-4545
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!