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    Property profile & analytics

    21 3rd NW St Arab, AL 35016

    • Warehouses
    • 20,560 SF
    • 1.39 lot acres
    OFF-MARKET
    Last Sale
    Feb 19, 2025
    $165,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0972271
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 21 3rd NW St

    Year built
    1960
    Lot size
    1.39 lot acres
    Property size
    20,560 SF
    Zone code
    11
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    13-07-26-1-001-031.000
    APU
    1307261001031000

    Description

    This exceptional 20,500 square foot warehouse, situated on a 0.87-acre lot in Arab, Alabama, presents a compelling investment opportunity. Built in 1960, this single-story structure boasts a prime location near Highways 69 and 231, offering unparalleled accessibility and visibility. The property is zoned for commercial use and benefits from its location within a free trade zone, providing significant advantages for businesses. The warehouse itself is dry and features a loading dock, ensuring efficient and convenient operations. The building's single-story design optimizes space utilization and simplifies logistics. This property is perfect for businesses requiring ample storage space and convenient access to major transportation routes. The asking price is $249,000. The address is 21 3rd St NW, Arab, AL 35016, within Marshall County. This is a rare opportunity to acquire a well-maintained, strategically located warehouse in a thriving area. The property's size, location, and features make it an attractive option for a wide range of businesses seeking efficient and accessible storage solutions.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Arab
    County
    Marshall
    State
    Alabama
    Longitude
    -86.4986
    Latitude
    34.3171
    CBSA code
    10700
    CBSA name
    ALBERTVILLE, AL MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,690
    $2,680
    $39,060
    $41,740
    -
    $13,400
    $195,300
    $208,700

    Comparable in this City

    • Value Estimation
      $275,000
      13,580 SF

      1158 9th NE St

      MINI-WAREHOUSE, STORAGE • 13,580 SF
      1158 9th NE St, Arab, AL 35016-4065
      View Details
    • Value Estimation
      $260,000
      500 SF

      413 Ruth NW Rd

      MINI-WAREHOUSE, STORAGE • 500 SF
      413 Ruth NW Rd, Arab, AL 35016-5159
      View Details
    • Value Estimation
      $275,000
      7,500 SF

      Alabama Hwy 69

      MINI-WAREHOUSE, STORAGE • 7,500 SF
      Alabama Hwy 69, Arab, AL 35016
      View Details
    • Value Estimation
      $280,000
      3,336 SF

      2388 Cullman Rd

      MINI-WAREHOUSE, STORAGE • 3,336 SF
      2388 Cullman Rd, Arab, AL 35016
      View Details
    • Value Estimation
      $280,000
      1,322 SF

      1046 Cullman Rd

      MINI-WAREHOUSE, STORAGE • 1,322 SF
      1046 Cullman Rd, Arab, AL 35016-1859
      View Details
    • Value Estimation
      $235,000
      1,276 SF

      1st NW Ave

      MINI-WAREHOUSE, STORAGE • 1,276 SF
      1st NW Ave, Arab, AL 35016
      View Details

    Similar Nearby for Sale

    • $423,000
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      Renovated Warehouse and Office Space

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    • $450,000
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    • $6,300,000
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      44,000 SF retail building with additional 12,500 SF warehouse.
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    • $350,000
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      High-Traffic Arab Commercial Building

      Prime location, high visibility, 13,000 sq ft.
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    • $69,000
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      Two mobile homes on a private 3-acre lot.
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      Arab, AL Acreage For Sale

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    Similar Nearby for Lease

    • $750 /Mo

      Office Space For Lease

      Office space for lease at Brindlee Mountain Storage.
      9582 Hwy 231, Arab, AL 35016
      View Details
    • $9 SF/Yr
      12,000 SF

      Brindlee Mountain Retail Space

      High-traffic Arab, AL retail space.
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      View Details
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    21 3rd NW St
    Arab, AL 35016
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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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