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    315 Lee St W Chickasaw, AL 36611

    Sponsored
    For Sale
    $174,900

    COMMERCIAL - Chickasaw, AL

    Property size:
    2,700 SF
    Lot size:
    0.41 Acres
    Days on Market:
    8
    Last Refresh:
    Feb 4 at 7:06 am

    Property Features for 315 Lee St W

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Window features
    Display Window(s)
    Zoning
    B-2
    APN
    2209440013267
    Parking
    10
    Parking features
    Parking Lot
    Size
    2,700 SF
    Lot size
    0.41 Acres

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1993
    Floors in Building
    1
    Flooring type
    Vinyl, Tile - Ceramic, Laminate, Concrete
    Building materials
    Block
    Roof type
    Metal

    We can help!

    Listing Contact
    Cynthia Deitz Byrd
    Cynthia Deitz Byrd

    Ty Irby Realty (251) 689-8832

    Listing agent Cynthia Byrd (251) 402-2143

    Listing date Jan 28, 2026

    MLS# 7514922

    Copyright © 2026 Gulf Coast MLS. 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

    Overview

    Chickasaw Commercial Corner Lot

    This commercial property, formerly a convenience store, is zoned B-2 by the City of Chickasaw with additional use restrictions. The 2,700 square foot property is situated on a 0.41-acre corner lot at the intersection of W. Lee St. and Grand Blvd., just off the Interstate. Asphalt parking is available. The property is suitable for a car lot, dine-in restaurant, or bar, with the potential to repurpose the existing interior. An adjacent lot is also available for sale, but is not subject to the same restrictions.
    Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Chickasaw
    County
    Mobile
    State
    Alabama
    Longitude
    -88.09091728
    Latitude
    30.76683983

    Nearby Similar for Sale

    • $174,900

      Corner Lot with Redevelopment Potential

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      Retail Building with Vacant Space

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      Craft Highway Warehouse Opportunity

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    • $225,000
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      Chickasaw Commercial Property - High Visibility

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    • $875,000
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      Prime Chickasaw Shopping Center

      25,000 SF, Net Lease, High Traffic
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    • $399,900
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      Craft Highway Retail Investment

      High-traffic retail space, excellent redevelopment potential.
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    FAQs

    What type of property is this?
    Grocery and convenience store - Highly visible corner lot suitable for various commercial uses.
    Where is this grocery and convenience store located?
    The property is located at 315 Lee St W Chickasaw, AL.
    What is the asking price?
    The asking price for this property is $174,900.
    What are key features of this property?
    This property features: - Highly visible corner lot location at W. Lee St. and Grand Blvd., just off the Interstate.; - Zoned B-2 for business use, suitable for car lot, dine-in restaurant, or bar.; - Ample asphalt parking space available.
    (251) 402-2143
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    315 Lee St W Chickasaw, AL 36611
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    Chickasaw, AL 36611
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    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
    315 Lee St W Chickasaw, AL 36611
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    We can help!
    Listing Contact
    Cynthia Deitz Byrd
    Cynthia Deitz Byrd
    Real Estate License ID: 40705
    (251) 402-2143
    Learn more
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