Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land in Homewood, AL Title is generated by Realmo AI

    1703 RIDGEWOOD PLACE, Homewood, AL 35216

    View on Map
    Claim this Listing
    Pending
    $125,000

    Lots - HOMEWOOD, AL

    Lot size:
    0.84 Acres
    Added:
    Jan 26, 2022
    Days on Market:
    1589
    Last Refresh:
    Jun 3 at 2:06 am

    Property Features for 1703 RIDGEWOOD PLACE

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    Lot size
    0.84 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Johnny Montgomery

    Listing agent Johnny Montgomery

    Listing office ARC Realty 280 110 INVERNESS CORS, Birmingham, AL

    Listing date Jan 26, 2022

    MLS# 1309359 Listing URL

    Copyright © 2026 Greater Alabama MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Location coordinates provided: [-86.81226, 33.44634]
    • Lot available for purchase.
    • Buyers can view the lot from Dobbs Lane.
    • Lot has a steep front side.

    Overview

    This residential land is located in Homewood, Alabama. The lot size is 0.84 acres. According to provided information, the lot is steep on the front side, and buyers may want to view the lot from the Dobbs Lane side.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Homewood
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.812265
    Latitude
    33.446338

    Nearby Similar for Sale

    • $2,100,000
      3,917 SF

      Renovated Multi-Tenant Homewood Investment

      Fully renovated multi-tenant building in prime Homewood location.
      1625 Oxmoor Rd, Homewood, AL 35209
      View Details
    • $124,900

      Homewood Buildable Lot Opportunity

      Prime 0.26 acre lot in desirable Homewood location.
      1008 COLUMBIANA ROAD, HOMEWOOD, AL 35209
      View Details
    • $350,000

      Oversized Lot in Edgewood Heart

      Rare opportunity to build your dream home in Homewood, AL.
      909 FRISCO STREET, HOMEWOOD, AL 35209
      View Details
    • $325,000

      Oversized Lot in Edgewood Heart

      Rare opportunity to build your dream home in Homewood.
      905 FRISCO STREET, HOMEWOOD, AL 35209
      View Details
    • Contact for pricing
      25,943 SF

      Homewood Retail Portfolio For Sale

      Fully leased retail portfolio in downtown Homewood's iconic retail corridor.
      2916 18th Street South, Homewood, AL 35209
      View Details
    • $285,000

      Residential Lot in Edgewood

      Quarter-acre residential lot in Homewood's desirable Edgewood neighborhood.
      217 EDGEVIEW AVENUE, HOMEWOOD, AL 35209
      View Details
    • $4,600

      Homewood Office Building For Sale

      Office building in Homewood, Alabama with private parking.
      3000 CRESCENT AVENUE, HOMEWOOD, AL 35209
      View Details
    • $98,000

      Homewood Buildable Lot Opportunity

      Prime 0.27-acre lot in desirable Homewood location.
      1016 COLUMBIANA ROAD, HOMEWOOD, AL 35209
      View Details
    • $235,000

      Lots in Homewood, Alabama

      Residential lots available in Homewood, Alabama.
      301 EDGEVIEW AVENUE, HOMEWOOD, AL 35209
      View Details
    • $649,000
      2,800 SF

      Homewood Quadplex Investment Opportunity

      Well-maintained Homewood quadplex near downtown, ideal for investors or owner-occupants.
      2524 18TH PLACE S, HOMEWOOD, AL 35209
      View Details
    • $349,900
      1,174 SF

      Condo in Broadway Park

      Rare floor plan with skyline views near downtown Homewood.
      1040 BROADWAY PARK #435, HOMEWOOD, AL 35209,
      View Details
    • $125,000
      961 SF

      Charming Condo in Foxcroft Community

      2-bedroom condo with pool, convenient to Samford, UAB, Brookwood.
      173 OLD MONTGOMERY HIGHWAY #D, HOMEWOOD, AL 35216
      View Details

    FAQs

    What type of property is this?
    Land - Residential land for sale in Homewood, Alabama.
    Where is this land located?
    The property is located at 1703 RIDGEWOOD PLACE Homewood, AL.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: Location coordinates provided: [-86.81226, 33.44634]; Lot available for purchase.; Buyers can view the lot from Dobbs Lane.
    (205) 969-8910
    We can help!
    Listing Contact
    Johnny Montgomery
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1703 RIDGEWOOD PLACE, HOMEWOOD, AL 35216
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!