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

    Co Rd 489 Hanceville, AL 35077

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,600,000

    60 acres of timber near Cullman city limits.

    Type:General Commercial
    Lot size:
    60.00 Acres
    Added:
    Nov 20, 2024
    Days on Market:
    514
    Last Refresh:
    Apr 1 at 9:15 pm

    Property Features for Co Rd 489

    General Information

    Standard status
    Active
    Lot size
    60.00 Acres
    Property subtype
    General Commercial

    We can help!

    Listing Contact
    Clay Culpepper

    Listing agent Clay Culpepper

    Listing office Culpepper Real Estate Inc

    Listing date Nov 20, 2024

    Source Xome

    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 Culpepper Real Estate Inc

    Overview

    60 Acres of Timber Land

    This property features approximately 60 acres of timberland. It is located on Golf Course Road and has the potential to be annexed into the city limits of Cullman. The site includes an old house, which was not assigned any value. An additional 19 acres adjacent to this property are also available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Hanceville
    County
    Cullman
    State
    Alabama
    Longitude
    -86.831814
    Latitude
    34.126489

    Nearby Similar for Sale

    • $459,900
      6,490 SF

      Hanceville Commercial Building with Garage

      6490 SF commercial building with separate garage for sale.
      111 Bangor Avenue NE, Hanceville, AL 35077
      View Details
    • $459,900
      6,490 SF

      Commercial Building with Detached Garage

      6490 SF commercial building with separate garage and parking.
      111 Bangor NE Avenue, Hanceville, AL 35077
      View Details
    • $156,000

      Unrestricted Acreage in Hanceville, AL

      Unrestricted 13-acre land near I-65, ideal for recreation/investment.
      00 Co Rd 501, Hanceville, AL 35077
      View Details
    • $264,000

      Unrestricted Land with Pond & Creek

      22-acre unrestricted land with pond and creek near I-65.
      000 Co Rd 501, Hanceville, AL 35077
      View Details
    • $156,000

      Unrestricted Land Near I-65

      13-acre unrestricted land near I-65, suitable for various uses.
      00 Co Rd 501, Hanceville, AL 35077
      View Details
    • $156,000

      Unrestricted Land Near I-65

      13-acre unrestricted land near I-65, Hanceville, Alabama.
      13AC County Road 501, Hanceville, AL 35077
      View Details
    • $789,000

      Hanceville Farm with Creek Frontage

      110-acre farm with creek frontage and recreational opportunities.
      5680 County Road 223, Hanceville, AL 35077
      View Details
    • $264,000

      Unrestricted Acreage with Pond & Creek

      22-acre property near I-65 with pond, creek, and no restrictions.
      000 Co Rd 501, Hanceville, AL 35077
      View Details
    • $132,000

      Unrestricted Land Near I-65

      11-acre partially wooded land near I-65 in Hanceville, AL.
      11AC County Road 501, Hanceville, AL 35077
      View Details
    • $132,000

      Versatile Land with Pond and Creek

      11-acre Hanceville land with wooded areas, pond, and creek.
      0 Co Rd 501, Hanceville, AL 35077
      View Details
    • $132,000

      Versatile Acreage with Pond and Creek

      11-acre tract near I-65, ideal for recreation or building.
      0 Co Rd 501, Hanceville, AL 35077
      View Details
    • $500,000
      8,000 SF

      Commercial Building with Open Space

      Commercial building featuring office and open space with fenced perimeters.
      8799 US Hwy 31, Hanceville, AL 35077
      View Details

    FAQs

    What type of property is this?
    Commercial land - 60 acres of timber near Cullman city limits.
    Where is this commercial land located?
    The property is located at Co Rd 489 Hanceville, AL.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: 60 acres of timber; Potential for annexation into Cullman city limits; Located on golf course road
    (256) 739-1389
    We can help!
    Listing Contact
    Clay Culpepper
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!