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    88 Dale Cir Midland City, AL 36350

    Sponsored
    For Sale
    Pending
    $450,000

    5-10 Units - Midland City, AL

    Property size:
    6,500 SF
    Lot size:
    2.00 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 2 at 9:06 pm

    Property Features for 88 Dale Cir

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 2
    Bedrooms
    2
    Bathrooms
    1
    APN
    261506132000012.000
    Parking features
    None
    Appliances
    Range, Refrigerator
    Size
    6,500 SF
    Lot size
    2.00 Acres

    Building Details

    Year built
    1969
    Floors in Building
    1
    Flooring type
    Laminate, Vinyl
    Building materials
    Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Dwayne Bowman

    James Bowman Realty Inc. (334) 794-7211

    Listing agent Dwayne Bowman (334) 794-7211

    Listing date Mar 2, 2026

    MLS# 205625 Listing URL

    Copyright © 2026 Southeast Alabama Association 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

    Midland City Multifamily Investment Opportunity

    This multifamily property is located in Midland City, Alabama, and features two buildings. Each building contains five units, for a total of ten units. Each unit includes two bedrooms and one bathroom. The property is situated on a 2-acre lot and the buildings have a total area of 6,500 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dale Circle Apartments Apartment Complex

    Suggested Use

    Real Estate Agency Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Midland City
    County
    Dale
    State
    Alabama
    Longitude
    -85.4954959
    Latitude
    31.3231674

    Nearby Similar for Sale

    • $2,950,000
      4.00 Acres

      Midland City Commercial Investment Opportunity

      Fully occupied commercial property with diverse tenants and high traffic.
      Us Highway 231 N, Midland City, AL 36350
      View Details
    • $280,000
      Pending

      Midland City Multifamily Investment Opportunity

      All brick 8-unit apartment building in Midland City, Alabama.
      205 Daniels St, Midland City, AL 36350
      View Details
    • $540,000
      Pending

      Midland City Apartments For Sale

      Two-story brick apartment building with twelve units in Midland City.
      90 4Th St, Midland City, AL 36350
      View Details
    • $630,000
      8.30 Acres

      Prime Midland City Industrial Land

      8.3 Acres, Hwy 231 Frontage
      0 Us Highway 231, Midland City, AL 36360
      View Details

    FAQs

    What type of property is this?
    Apartment building - Two buildings with ten total units for sale in Alabama.
    Where is this apartment building located?
    The property is located at 88 Dale Cir Midland City, AL.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: - Investment opportunity: Two buildings with a total of 10 apartment units.; - Each unit features 2 bedrooms and 1 bathroom.; - Includes essential appliances: Range and Refrigerator.
    (334) 796-4903
    Request Owner's contact information
    88 Dale Cir Midland City, AL 36350
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    Midland City, AL 36350
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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
    88 Dale Cir Midland City, AL 36350
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    We can help!
    Listing Contact
    Dwayne Bowman
    (334) 796-4903 (334) 794-7211
    Learn more
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