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    4896 Us-231 Wetumpka, AL 36092

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    4896 Us-231 Wetumpka, AL 36092

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    • Neighborhood centers
    • 60,163 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 4896 Us-231

    Property size
    60,163 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    This prime retail opportunity in Wetumpka, Alabama, presents 53,300 square feet of vacant space in a thriving 60,163 square foot strip center. Located at 4896 US-231, this Class C property boasts excellent visibility and is situated on a 7.64-acre lot. The center is zoned B-1 (General Business) and offers flexible space options, with a minimum divisible unit of 2,670 square feet and a maximum contiguous space of 45,630 square feet. This allows for a variety of retail uses, from smaller boutiques to larger anchor tenants. The property benefits from its location in a high-growth area, with Wetumpka experiencing a significant population increase. The center is already home to established businesses including Dollar General, Zaxby's, Subway, American Lube Fast, and Popeyes, providing strong co-tenancy and increased foot traffic. This presents a unique opportunity for businesses seeking high visibility and access to a growing customer base in Elmore County. The property is situated in a convenient location on Highway 231 South at Bienville Square. The property is ready for immediate occupancy and offers significant potential for growth and return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wetumpka
    County
    Elmore
    State
    Alabama
    Longitude
    -86.2131
    Latitude
    32.5125

    Comparable in this City

    • Value Estimation by Request
      94,549 SF

      5326 Us Highway 231

      Neighborhood centers • 94,549 SF
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    • Value Estimation by Request
      7,100 SF

      5039 Us-231

      Neighborhood centers • 7,100 SF
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    • Value Estimation
      $5,235,000
      53,308 SF

      Us Hwy 231

      SHOPPING CENTER, STRIP CENTER • 53,308 SF
      Us Hwy 231, Wetumpka, AL 36092
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    • Value Estimation
      $885,000
      8,100 SF

      74511 Tallassee Hwy Ofc

      SHOPPING CENTER, STRIP CENTER • 8,100 SF
      74511 Tallassee Hwy Ofc, Wetumpka, AL 36092-5516
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    • Value Estimation by Request
      3.00 Acres

      229 Hatch Dr

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3.00 Acres
      229 Hatch Dr, Wetumpka, AL 36092-6094
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    • Value Estimation by Request
      2,655 SF

      Broad St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,655 SF
      Broad St, Wetumpka, AL 36092
      View Details

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    Similar Nearby for Lease

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      Renovated Shopping Center in Wetumpka

      Conveniently located shopping center with recent renovations and high visibility.
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      Retail Space in Growing Area

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      Retail Space Near National Tenants

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      Retail Space Near Walmart

      Retail spaces available near Walmart Supercenter on US Highway 231.
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      Wetumpka Warehouse Space Available

      514,619 SF warehouse space for lease in Wetumpka, Alabama.
      3145 Elmore Rd, Wetumpka, AL 36092
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    4896 Us-231
    Wetumpka, AL 36092
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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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