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    Retail Condo with Dedicated Parking Title is generated by Realmo AI

    234 W Magnolia Ave # B, Auburn, AL 36830

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    Retail condo offering 33 dedicated parking spaces and minimal landlord involvement via the condo association.

    Type:Shopping Center or Multi-Tenant Building
    Property size:
    4,375 SF
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 2:09 am

    Property Features for 234 W Magnolia Ave # B

    General Information

    Standard status
    Active
    Size
    4,375 SF
    Property subtype
    Shopping Center or Multi-Tenant Building

    We can help!

    Listing Contact
    Ray Jones, CCIM

    Listing agent Ray Jones, CCIM

    Listing office

    Listing date Jun 2, 2026

    Source Theshoppingcentergroup

    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 Ray Jones, CCIM

    HighLights

    • Retail condo offering 4,375 SF with 33 dedicated parking spaces for retail users
    • Minimal landlord involvement due to the condo association
    • Located immediately across the street from Auburn University (student enrollment 35,172)
    • City of Auburn saw a 34% population increase from 2015 to 2023

    Overview

    This retail condo suite totals 4,375 SF and is supported by 33 dedicated parking spaces, designed for day-to-day retail convenience. The listing also notes minimal landlord involvement due to the condo association structure, which can simplify ownership and ongoing operational coordination.

    The property benefits from an exceptional established location immediately across the street from Auburn University. Auburn University is listed with 35,172 student enrollment, and the surrounding market is described as part of the growing “SEC College” segment. The City of Auburn is also characterized as one of Alabama’s fastest growing cities, with a 34% population increase from 2015 to 2023.

    Given the parking support and high-visibility university-adjacent positioning, this space is well suited to retail operators looking to serve consistent foot-traffic and local demand. The condo format may appeal to buyers or tenants who prefer reduced landlord participation and a more self-managed ownership environment. For retailers and investors focused on long-term, location-driven demand, this is an opportunity to acquire irreplaceable real estate in a strong college market.
    Location Intelligence

    Current Use by Public Records

    Urban Wok Restaurant Legends of Magnolia Condominium Complex Curry to go Restaurant Tekila Mexican Bar ... Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    Lee
    State
    Alabama
    Longitude
    -85.48441
    Latitude
    32.607309

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    FAQs

    What type of property is this?
    Shopping center - Retail condo offering 33 dedicated parking spaces and minimal landlord involvement via the condo association.
    Where is this shopping center located?
    The property is located at 234 W Magnolia Ave # B Auburn, AL.
    What are key features of this property?
    This property features: Retail condo offering 4,375 SF with 33 dedicated parking spaces for retail users; Minimal landlord involvement due to the condo association; Located immediately across the street from Auburn University (student enrollment 35,172)
    (205) 776-6715
    We can help!
    Listing Contact
    Ray Jones, CCIM
    Learn More
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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.

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    234 W Magnolia Ave # B, Auburn, AL 36830
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