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

    24497-1/2 Us Highway 72 Athens, AL 35613

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,000,000

    2.65 acres of unzoned land suitable for various commercial uses.

    Lot size:
    2.65 Acres

    Property Features for 24497-1/2 Us Highway 72

    General Information

    Standard status
    Active
    Lot size
    2.65 Acres

    We can help!

    Listing Contact
    Alex Mukai
    Source: Exprealty

    Listing Agency: Avanti Realty Services LLC Listing Agent: Alex Mukai

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Unzoned Land Near Interstate 65

    This 2.65-acre property is unzoned and located approximately 2.5 miles east of US Interstate 65, across from Jimmy Smith GMC. It is suitable for single-use tenants, such as day care centers, urgent care facilities, medical offices, and attorney offices, as well as retail offices and multi-family use. There is currently a house on the property renting for $1450 per month, a metal building renting for $900 per month, and a billboard renting for $165 per month. Please do not disturb the tenants.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Building Supply Wholesale Shop Auto Repair Shop Nail Salon Auto Parts Store Gym & Fitness Department Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Athens
    County
    Limestone
    State
    Alabama
    Longitude
    -86.8910904
    Latitude
    34.7674895

    Nearby Similar for Sale

    • $775,000
      2,025 SF

      Equestrian Property Near Athens, Alabama

      23-acre equestrian property with renovated home and extensive facilities near Athens.
      21528 Edgewood Rd, Athens, AL 35614
      View Details
    • $2,200,000
      2.21 Acres

      Former Restaurant Building For Sale

      Convertible restaurant building with ample parking in a strong market.
      21366 Athens Limestone Blvd, Athens, AL 35611
      View Details
    • $419,900
      0.55 Acres

      Industrial Building Near Highway 72

      5200 sqft industrial building with fenced lot near Hwy 72.
      16097 Parker Rd, Athens, AL 35611
      View Details
    • $550,000

      Multi-Purpose Property Near Highway 72

      3750 sqft office space with high traffic and easy access.
      1609 Hines St S, Athens, AL 35611
      View Details
    • $362,000
      0.46 Acres

      Modern Duplex Investment Opportunity

      Income-producing duplex in Athens, AL, near the river.
      12208 Beech Fork Ln, Athens, AL 35611
      View Details
    • $869,000
      0.95 Acres

      Commercial Property with Automotive Features

      Over 13,000 sq ft commercial building with automotive features.
      14345 Bledsoe Rd, Athens, AL 35613
      View Details
    • $5,900,000
      31.00 Acres

      Commercial Property on Highway 72

      31 acres of commercial property with established mini storage.
      31 Hwy 72 East, Athens, AL 35613
      View Details
    • Contact for pricing
      0.78 Acres

      Versatile Building in Athens, Alabama

      Adaptable building suitable for retail, industrial, or office uses.
      14647 Cambridge Ln, Athens, AL 35613
      View Details
    • $900,000

      Commercial Building on Main Highway

      Commercial building with three rented spaces and billboard income.
      810 Hwy 72, Athens, AL 35611
      View Details
    • $750,000
      5.65 Acres

      Functional Church Building on Acreage

      Church building with 250-seat capacity on 5.65 acres in Athens.
      17200 Lucas Ferry Rd, Athens, AL 35611
      View Details
    • $439,000
      2.10 Acres

      Visible Commercial Property Near I-65

      High-traffic commercial property with flexible space and I-65 visibility.
      22651 Piney Chapel Rd, Athens, AL 35614
      View Details
    • $600,000

      Downtown Athens Retail Building

      7,186 SF building in downtown Athens for sale.
      220 S Marion St, Athens, AL 35611
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.65 acres of unzoned land suitable for various commercial uses.
    Where is this commercial land located?
    The property is located at 24497-1/2 Us Highway 72 Athens, AL.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: - Un-zoned property suitable for various uses: single-tenant (day care, medical/attorney office), retail offices, or multi-family.; - Income-generating property with existing rental income from house ($1450/mo), metal building ($900/mo), and billboard ($165/mo).; - Large 2.65-acre lot.
    (256) 714-1300
    Request Owner's contact information
    24497-1/2 Us Highway 72 Athens, AL 35613
    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.
    24497-1/2 Us Highway 72
    Athens, AL 35613
    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
    24497-1/2 Us Highway 72 Athens, AL 35613
    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
    Alex Mukai
    (256) 714-1300
    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.