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    Millbrook Multi-Tenant Commercial Building Title is generated by Realmo AI

    2314 Wall St, Millbrook, AL 36054

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    Versatile commercial space in high-demand Millbrook location.

    Type:Office, Industrial, Retail
    Property size:
    12,500 SF
    Added:
    Sep 17, 2024
    Days on Market:
    604
    Last Refresh:
    Mar 16 at 10:32 am

    Property Features for 2314 Wall St

    General Information

    Standard status
    Active
    Size
    12,500 SF
    Property subtype
    Office, Industrial, Retail

    Building Details

    Year Built
    1997

    Spaces For Lease

    at 2314 Wall St Contact us

    2314 Wall St. $12 /Mo

    Size
    1,500 SF
    Type
    Office, Retail, Industrial
    One 1,500 SF unit available July 31, 2026. If you would like more information or...
    show more
    Contact us

    2316 Wall St. $14 /Mo

    Size
    1,000 SF
    Type
    Office, Industrial, Retail
    One 1,000 SF unit available July 31, 2026. If you would like more information or...
    show more
    Contact us

    We can help!

    Listing Contact
    Paul Hodges
    Paul Hodges

    Listing agent Paul Hodges License #AL 28068

    Listing office Hodges Commercial Real Estate

    Listing date Sep 17, 2024

    Source Crexi

    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 Hodges Commercial Real Estate

    HighLights

    • High‑demand location in Millbrook with limited commercial space availability.
    • Excellent accessibility to Montgomery, Prattville, and I‑65 (Exit 179 is 0.5 miles away).
    • Versatile space suitable for retail, service businesses, professional offices, and church use.
    • Units 2314 and 2316 offer a combined 2,500 SF of heated and cooled space with office buildout.
    • Each unit features a private entrance, covered awning, and front parking.
    • Multi‑tenant building with a variety of unit sizes (1,000 SF to 1,500 SF).

    Overview

    The commercial building at 2304-2322 Wall Street in Millbrook offers 12,500 square feet of multi-tenant space for lease. The property is located 0.5 miles from Exit 179 on Interstate 65, providing accessibility to Montgomery, Prattville, and surrounding areas. The building contains eight 1,250-square-foot units, one 1,000-square-foot unit, and one 1,500-square-foot unit. Each unit features a private entrance, covered awning, and front parking. The units have previously accommodated retail, service businesses, professional offices, and church space. Units 2314 and 2316 are becoming available, offering a combined 2,500 square feet of heated and cooled space with office buildout. This location is suitable for businesses seeking accessible, versatile commercial space in Millbrook, AL.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Millbrook
    County
    Elmore
    State
    Alabama
    Longitude
    -86.3823647
    Latitude
    32.4582461

    Nearby Similar for Lease

    • $2,900/Mo

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      View Details
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      Office Space Available for Rent

      Office space for rent at Alabama 14 & Kelley Blvd.
      Alabama 14 & Kelley Blvd, Millbrook, AL 36054
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      Retail Space in Millbrook, AL

      Retail space available in a growing Millbrook location.
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      Retail Space For Rent

      Retail space available for lease at $12.50 PSF Net.
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      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Versatile commercial space in high-demand Millbrook location.
    Where is this mixed-use property located?
    The property is located at 2314 Wall St Millbrook, AL.
    What are key features of this property?
    This property features: High‑demand location in Millbrook with limited commercial space availability.; Excellent accessibility to Montgomery, Prattville, and I‑65 (Exit 179 is 0.5 miles away).; Versatile space suitable for retail, service businesses, professional offices, and church use.
    (334) 315-1382 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Paul Hodges
    Paul Hodges
    Real Estate License ID: AL 28068
    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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