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    1078 3rd St Florala, AL 36442

    View on Map
    Sponsored
    Source: https://www.saltercompany.com
    For Sale
    $470,000

    Profitable Restaurant & Gas Station Combo.

    Property size:
    6,822 SF

    Property Features for 1078 3rd St

    General Information

    Property type
    Other investment properties
    Square Feet
    6,822 SF
    Price / Square Foot
    $68
    Elevators
    N/A
    Net Rentable
    2,386 SF
    Lot Size
    54,406 SF

    Building Details

    Year Built
    2000
    Buildings
    1
    Stories
    1

    Overview

    Restaurant & Gas Station Investment

    This property features a 2,386 square foot retail space situated at 1078 3rd Street in Florala, Alabama. Constructed in 2000, the building is attached to a Marathon Gas Station and occupies a 0.45-acre lot. The total building size is 6,822 square feet. The retail space is currently configured as a restaurant, presenting an opportunity for a buyer to continue the existing business or repurpose the space. The property's location within a commercial area provides high visibility and foot traffic, making it suitable for various retail ventures. This location offers immediate income potential and long-term growth prospects.

    We can help!

    Listing Contact
    Paul Salter

    Learn more

    Property Insight Report

    HighLights

    • Prime Florala, AL location on 3rd Street.
    • 2,386 sq ft retail space, ideal for restaurant use.
    • .45‑acre lot, attached to a Marathon gas station, built in 2000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Marathon Gas Station Subway Take-out & Catering Gitty Up-N-Go Grocery & Convenience Store Western Union Bank Bitstop Bitcoin ATM Crypto Atm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Florala
    State
    Alabama
    Longitude
    -86.326615
    Latitude
    31.00353

    Nearby Comparable

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      15,608 SF

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      Retail property available for sale in Florala, Alabama.
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      Cleared Vacant Land in Florala

      5 acres of cleared land suitable for residential or agricultural use.
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    • $44,900
      5.00 Acres

      Cleared Vacant Land in Florala

      5 acres of cleared land suitable for building or mobile home.
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    • $44,900
      5.00 Acres

      Cleared Vacant Land in Florala

      5 acres of cleared land suitable for residential or agricultural use.
      5 Mcphail Farm Rd, Florala, AL 36442
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    • $44,900
      4.91 Acres

      Vacant Land Near Lake Jackson

      4.91 acres of cleared, vacant land suitable for various uses.
      4.91E Acre Mcphail Farm Rd, Florala, AL 36442
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    • $44,900
      4.91 Acres

      Vacant Land in Florala, AL

      4.91 acres of cleared, vacant land ready to build.
      4.91F Acre Mcphail Farm Rd, Florala, AL 36442
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    • $42,000
      3.00 Acres

      Vacant Land Near Lake Jackson

      3 acres of cleared land near Lake Jackson.
      3 Acre -B Prescott Rd, Florala, AL 36442
      View Details

    Nearby Similar for Sale

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      Vintage farmhouse on 3 acres ready for renovation.
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      15,608 SF

      Retail Property in Florala, Alabama

      Retail property available for sale in Florala, Alabama.
      958 2Nd St, Florala, AL 36442
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    • $410,000
      70.00 Acres

      70 Acres in Rural Florala, AL

      Country acreage, build your dream home!
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    FAQs

    What type of property is this?
    Investment property - Profitable Restaurant & Gas Station Combo.
    Where is this investment property located?
    The property is located at 1078 3rd St Florala, AL.
    What is the asking price?
    The asking price for this property is $470,000.
    What are key features of this property?
    This property features: Prime Florala, AL location on 3rd Street.; 2,386 sq ft retail space, ideal for restaurant use.; .45-acre lot, attached to a Marathon gas station, built in 2000.
    (850) 564-0120
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    1078 3rd St Florala, AL 36442
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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
    1078 3rd St Florala, AL 36442
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    We can help!
    Listing Contact
    Paul Salter
    (850) 564-0120
    Learn more
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