Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1153 Haley Dr Cherokee, AL 35616

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Commercial Property, Vacant, 2,638 SF

    Property size:
    2,638 SF

    Property Features for 1153 Haley Dr

    General Information

    Property type
    Land
    Square Feet
    2,638 SF
    Class
    A
    Lot Size
    87,991 SF

    Building Details

    Year Built
    2009
    Buildings
    1
    Stories
    1
    Units
    1

    We can help!

    Listing Contact
    David C Gardner
    David C Gardner

    Listing Agency: CENTURY 21 Clement Realty, Inc Listing Agent: David C Gardner

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

    Learn more

    Overview

    This exceptional Class A commercial property, located at 1153 Haley Dr. in Cherokee, Alabama (zip code 35616), presents a unique investment opportunity. The property boasts a fee simple ownership structure and comprises a single-story, 2,638 square foot office building constructed in 2009, situated on a generous 2.02-acre lot. Currently vacant, this versatile space is ideally suited for a variety of commercial uses. Its existing configuration includes five drive-through bays under roof, offering significant potential for conversion into additional office space or other suitable adaptations. The property's ample lot size allows for future expansion, providing considerable flexibility for growth and development. The permitted zoning is commercial, ensuring a wide range of potential uses. The asking price is $899,900, translating to $341.13 per square foot. The property's APN is 06-08-34-0-000-000-007. This is a rare opportunity to acquire a well-located, versatile commercial property in a growing area. The property's strategic location and adaptable design make it an attractive investment for both established businesses and forward-thinking entrepreneurs. Don't miss this chance to secure a prime commercial asset in Colbert County, Alabama.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Cherokee
    County
    Colbert
    State
    Alabama
    Longitude
    -87.8902039
    Latitude
    34.7545676

    Nearby Similar for Sale

    • $140,000
      1,232 SF

      Cherokee Commercial Building - Hwy 72

      High-traffic location, great potential. Detached garage included.
      8671 Highway 72, Cherokee, AL 35616
      View Details
    • $899,900
      2,638 SF

      1153 Haley Dr, Cherokee, AL 35616

      Industrial properties • 2,638 SF
      1153 Haley Dr, Cherokee, AL 35616
      View Details
    • $899,900

      Cherokee, AL Bank/Office Opportunity

      Bank or office space with drive-through and expansion potential.
      1153 Haley Dr, Cherokee, AL 35616
      View Details

    FAQs

    What type of property is this?
    Land - Prime Commercial Property, Vacant, 2,638 SF
    Where is this land located?
    The property is located at 1153 Haley Dr Cherokee, AL.
    What is the asking price?
    The asking price for this property is $899,900.
    What are key features of this property?
    This property features: $899,900 asking price.; Class A, vacant, 2,638 SF office/land property.; Located at 1153 Haley Dr, Cherokee, AL 35616.
    (256) 349-0514 Call to check price and availability
    Request Owner's contact information
    1153 Haley Dr Cherokee, AL 35616
    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.
    1153 Haley Dr
    Cherokee, AL 35616
    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
    1153 Haley Dr Cherokee, AL 35616
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing David C Gardner
    David C Gardner
    Real Estate License ID: 827420
    (256) 349-0514 (256) 766-0069 (256) 764-8743
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!