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    501 East Martin Luther King Hwy Tuskegee, AL 36083

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    For Sale
    $60,000

    Redevelopment opportunity with excellent visibility in a high-traffic location.

    We can help!

    Listing Contact
    Dave Jackson
    Source: Naiglobal

    Listing Agent: Dave Jackson

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

    Learn more

    Overview

    Former Gas Station Redevelopment Opportunity

    Located at 501 E. Martin Luther King Drive in Tuskegee, AL, this former gas station is situated on a 0.33-acre lot and includes an 1,104 SF building with on-site signage. The property benefits from excellent visibility and accessibility along a well-traveled corridor. The paved lot and existing infrastructure provide a versatile foundation for redevelopment to fit a wide range of business needs. Fuel tanks are still in the ground and have been inspected. The property is located along one of Tuskegee’s main commercial corridors, benefiting from steady traffic flow and strong visibility. It is located minutes from Tuskegee University, downtown businesses, and major community services, positioning it to capture both local residents and university traffic. Its central location provides quick access to Highway 80 and I-85, connecting the property to Auburn, Montgomery, and the surrounding region. The site offers an ideal setting for a retail, office, or service user seeking a convenient, high-exposure location in the heart of Tuskegee.
    Location Intelligence

    Current Use by Public Records

    Gas stations

    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
    Tuskegee
    County
    Macon
    State
    Alabama
    Longitude
    -85.695064
    Latitude
    32.420827

    Nearby Similar for Sale

    • $60,000
      1,104 SF

      Redevelopment Opportunity in Tuskegee, AL

      Former gas station on 0.33 acres, prime for redevelopment.
      501 East Martin Luther King Hwy, Tuskegee, AL 36083
      View Details
    • $1,789,000
      3,442 SF

      504 Main St

      Retail properties & Spaces • 3,442 SF
      504 Main St, Tuskegee, AL 36083
      View Details
    • $1,600,000

      00 Mizell Rd, Tuskegee, AL 36083

      Industrial properties
      00 Mizell Rd, Tuskegee, AL 36083
      View Details

    FAQs

    What type of property is this?
    Gas station - Redevelopment opportunity with excellent visibility in a high-traffic location.
    Where is this gas station located?
    The property is located at 501 East Martin Luther King Hwy Tuskegee, AL.
    What is the asking price?
    The asking price for this property is $60,000.
    What are key features of this property?
    This property features: - Prime redevelopment opportunity on E. Martin Luther King Drive with excellent visibility and accessibility.; - Strategic location minutes from Tuskegee University, downtown, and major community services.; - Versatile ±0.33-acre lot with a ±1,104 SF building and existing infrastructure.
    (706) 587-8660
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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
    501 East Martin Luther King Hwy Tuskegee, AL 36083
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    We can help!
    Listing Contact
    Dave Jackson
    Real Estate License ID: #344658
    (706) 587-8660
    Learn more
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