Sign Up Successful!
You now have access to more from Realmo!
    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

    2873 Prospect Rd Nauvoo, AL 35578

    Sponsored
    For Sale
    $239,900

    Spacious Church/Daycare, 4500 sq ft

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    354
    This exceptional commercial property in Nauvoo, Alabama, presents a remarkable investment opportunity. Situated on a two-acre lot, the building boasts a substantial 4500 square feet of usable space, perfectly suited for a variety of purposes, including its current configuration as a church and daycare center. The main sanctuary comfortably accommodates over 150 people, providing ample room for congregations or large gatherings. In addition to the sanctuary, the property features five well-appointed offices, ideal for administrative staff or specialized programs. Two conveniently located bathrooms cater to the needs of occupants and visitors. A spacious fellowship hall offers a versatile area for social events, community meetings, or additional program space. A fully equipped kitchen is included, perfect for preparing refreshments or hosting events. Furthermore, ample storage space is available throughout the building, ensuring efficient organization and management. The building's dimensions are 50 feet by 90 feet, providing a generous footprint for current and future uses. The property's location in Nauvoo offers easy access to local amenities and transportation routes. Priced at $239,900, this property represents a significant value for its size, features, and potential. This is a rare opportunity to acquire a substantial commercial building in a desirable location. Don't miss out on this exceptional investment prospect.

    Property Features for 2873 Prospect Rd

    General Information

    Property type
    Other commercial real estate
    Lot Size
    87,120 SF

    Building Details

    Year Built
    2004

    We can help!

    Listing Contact
    Jeff Jones

    Learn more

    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Building Supply Wholesale Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Nauvoo
    County
    Walker
    State
    Alabama
    Longitude
    -87.44154
    Latitude
    33.93069

    Nearby Comparable

    • $389,900

      Nauvoo Land with Custom Home

      80-acre retreat with 2023 custom home and mineral rights.
      12913 Highway 5, Saragossa, AL 35578
      View Details
    • $420,000
      99.00 Acres

      99 Acre Pasture and Farm

      99 acre farm with pasture, creek, and pond.
      Busby Cut Off Rd, Nauvoo, AL 35578
      View Details
    • Contact for pricing
      17.00 Acres

      Carbon Hill Commercial Land Investment

      17 Acres, I-22 Exit 46, Alabama
      0 Nauvoo Road/Cr11, Nauvoo, AL 35578
      View Details
    • $140,000

      Spacious Home on 4 Acres

      Unique home featuring a fireplace, hot tub, and greenhouse.
      1460 Rose Hill Rd, Nauvoo, AL 35578
      View Details
    • $599,000

      Commercial Property Leased to Dollar General

      Approximately 10,000 sq ft commercial property in Carbon Hill, AL.
      31366 1St Ave NE, Carbon Hill, AL 35549
      View Details

    Nearby Similar for Sale

    • $189,900
      3,948 SF

      Two-Story Commercial Building in Nauvoo

      Two-story commercial building suitable for medical, office, or professional use.
      300 4Th Ave, Nauvoo, AL 35578
      View Details
    • $140,000

      Spacious Home on 4 Acres

      Unique home featuring a fireplace, hot tub, and greenhouse.
      1460 Rose Hill Rd, Nauvoo, AL 35578
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Spacious Church/Daycare, 4500 sq ft
    Where is this commercial real estate located?
    The property is located at 2873 Prospect Rd Nauvoo, AL.
    What is the asking price?
    The asking price for this property is $239,900.
    (205) 823-6677
    Request Owner's contact information
    2873 Prospect Rd Nauvoo, AL 35578
    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.
    2873 Prospect Rd
    Nauvoo, AL 35578
    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
    2873 Prospect Rd Nauvoo, AL 35578
    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
    Jeff Jones
    (205) 823-6677
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.