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    Hardware Store in Prime Location Title is generated by Realmo AI

    143 Healing Springs Avenue, Millry, AL 36558

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    For Sale
    $799,000

    Thriving hardware store with additional space for new business.

    Type:Commercial/Industrial
    Property size:
    8,000 SF
    Price / SF:
    $99/SF
    Added:
    May 21, 2025
    Days on Market:
    377
    Last Refresh:
    Apr 7 at 8:30 pm

    Property Features for 143 Healing Springs Avenue

    General Information

    Standard status
    Active
    Size
    8,000 SF
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    Jacquelyn Wells
    Jacquelyn Wells

    Listing agent Jacquelyn Wells License #100626

    Listing office Coldwell Banker Coastal Realty

    Listing date May 21, 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 Coldwell Banker Coastal Realty

    HighLights

    • Prime location in a high‑traffic area ensures maximum visibility and accessibility.
    • Impressive 8,000 square foot building offers ample space.
    • Separated into two sections with separate entrances, providing double the business opportunities.
    • Fully stocked hardware store included, ready for immediate operation.
    • Massive outbuilding with outdoor racks and storage rooms provides extensive storage capacity.
    • Established business with a loyal customer base and significant growth potential.

    Overview

    This commercial hardware store is situated in a high-traffic area, offering significant visibility and accessibility. The property includes an 8,000 square foot building divided into two sections with separate entrances, providing dual business opportunities. One half of the building is currently occupied by the fully stocked hardware store, while the other half is available for a new business venture. Additional storage is available in a large outbuilding, which features outdoor racks for building supplies and large storage rooms. A small storage building and a covered storage port are also included. The hardware store serves as a one-stop shop for home improvement, gardening, auto supplies, outdoor recreation, and various other in-demand items for DIY enthusiasts and professional contractors. The property includes front and back office space for administrative needs and a spacious storage room for efficient inventory management. The outbuilding offers extra space for seasonal items, bulk inventory, or additional business operations. The property benefits from an established customer base and presents growth opportunities through community engagement and expanded product offerings.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Nail Salon Hotel & Motel Pharmacy HVAC Service Food Market Grocery & Convenience Store Discount Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Millry
    County
    Washington
    State
    Alabama
    Longitude
    -88.354
    Latitude
    31.6272

    FAQs

    What type of property is this?
    Storefront property - Thriving hardware store with additional space for new business.
    Where is this storefront property located?
    The property is located at 143 Healing Springs Avenue Millry, AL.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: Prime location in a high‑traffic area ensures maximum visibility and accessibility.; Impressive 8,000 square foot building offers ample space.; Separated into two sections with separate entrances, providing double the business opportunities.
    (251) 802-3630
    We can help!
    Listing Contact
    Jacquelyn Wells
    Jacquelyn Wells
    Real Estate License ID: 100626
    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.

    More about this property
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