Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Red Bay Corner Commercial Property Title is generated by Realmo AI

    305 SW 4th Ave, Red Bay, AL 35582

    View on Map
    Claim this Listing
    For Sale
    $415,000

    Functional commercial property with drive-thru in Red Bay, Alabama.

    Type:Commercial/Industrial
    Property size:
    342 SF
    Lot size:
    0.95 Acres
    Price / SF:
    $1,213/SF
    Added:
    Apr 4, 2025
    Days on Market:
    425
    Last Refresh:
    Apr 8 at 12:13 am

    Property Features for 305 SW 4th Ave

    General Information

    Standard status
    Active
    Size
    342 SF
    Lot size
    0.95 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1990

    We can help!

    Listing Contact
    Justin M Bishop
    Justin M Bishop

    Listing agent Justin M Bishop License #000086299

    Listing office Pounders & Associates, Inc.

    Listing date Apr 4, 2025

    Source Exitrealty

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

    All listing content including descriptions, pricing, images are the copyrighted material of Pounders & Associates, Inc.

    HighLights

    • Prime corner lot location offering outstanding visibility and accessibility.
    • Turn‑key drive‑thru facility with three lanes and a dedicated ATM lane under a covered canopy.
    • Adaptable structure suitable for various commercial uses.
    • Generous 0.95‑acre lot with 22 off‑street parking spaces.
    • Multiple access points on 4th Avenue SW and 3rd Street SW.
    • Well‑maintained structure built in 1990 with efficient layout and smooth traffic circulation.

    Overview

    Located on a prominent corner in Red Bay, Alabama, this commercial property offers high visibility and accessibility. Currently operating as a drive-thru-only bank branch, the site features a well-maintained 342-square-foot structure with an efficient layout suitable for financial institutions, pharmacies, quick-service restaurants, or businesses requiring a vehicle-centric model. The property includes three drive-thru lanes and a dedicated fourth lane for an ATM, all under a covered canopy. Situated on a 0.95-acre lot, the property includes 22 off-street parking spaces and multiple access points along both 4th Avenue SW and 3rd Street SW. The corner-lot positioning provides strong signage potential, and the paved lot offers smooth traffic circulation. The existing structure is adaptable for a range of commercial uses.
    Location Intelligence

    Current Use by Public Records

    Bank Independent Bank

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Red Bay
    County
    Franklin
    State
    Alabama
    Longitude
    -88.146857
    Latitude
    34.44248

    Nearby Similar for Sale

    • $500,000
      2,637 SF

      Established Restaurant in Red Bay

      Turnkey restaurant with loyal customer base and income potential.
      602 NE 4th St, Red Bay, AL 35582
      View Details
    • $225,000
      4,568 SF

      Commercial Building in Downtown Red Bay

      Commercial building with office, warehouse, and expansion potential.
      111 5th Ave SW, Red Bay, AL 35582
      View Details
    • $300,000
      4,568 SF

      Commercial Building with Historic Touch

      Spacious office and warehouse with expansion potential in downtown.
      111 5th Ave, Red Bay, AL 35582
      View Details
    • $175,000
      1,970 SF

      Well-Built Brick Office Building

      Brick office building suitable for medical or general office use.
      513 3rd St, Red Bay, AL 35582
      View Details
    • $175,000
      1,970 SF

      Red Bay Office Building

      Well-built office building in Red Bay, Alabama.
      513 3rd St SW, Red Bay, AL 35582
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - Functional commercial property with drive-thru in Red Bay, Alabama.
    Where is this drive through restaurant located?
    The property is located at 305 SW 4th Ave Red Bay, AL.
    What is the asking price?
    The asking price for this property is $415,000.
    What are key features of this property?
    This property features: Prime corner lot location offering outstanding visibility and accessibility.; Turn‑key drive‑thru facility with three lanes and a dedicated ATM lane under a covered canopy.; Adaptable structure suitable for various commercial uses.
    (256) 766-0998
    We can help!
    Listing Contact
    Justin M Bishop
    Justin M Bishop
    Real Estate License ID: 000086299
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    305 SW 4th Ave, Red Bay, AL 35582
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!