Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    151 Memorial Dr Prattville, AL 36067
    Back to Search
    Property profile & analytics

    151 Memorial Dr, Prattville, AL 36067

    View on Map
    • Retail properties & Spaces
    • 75,098 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 151 Memorial Dr

    Property type
    Retail properties & Spaces

    Description

    This exceptional retail opportunity presents itself in Prattville Square, a Class B neighborhood center totaling 75,098 square feet located at 151 N Memorial Dr, Prattville, AL 36067. Currently, there are two available spaces, one measuring approximately 1,500 square feet and another approximately 2,500 square feet. The larger space is ideally suited for office or medical use, while the smaller space is perfect for retail. The center boasts excellent visibility and high traffic counts due to its prime location on N Memorial Drive, directly across from Baptist Medical Hospital. This ensures consistent foot traffic and strong potential for business growth. Existing tenants include well-established businesses such as Dollar General, Farmers Home Furniture, and Factory Connection, creating a vibrant and successful shopping environment. The property offers a total of 75,098 square feet, with 4,700 square feet currently vacant. This presents a unique chance to establish a presence in a thriving Autauga County community. The property's strategic location and strong tenant mix make it an attractive investment for businesses seeking high visibility and a stable customer base. Don't miss this chance to secure your space in this successful retail center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Prattville
    County
    Autauga
    State
    Alabama
    Longitude
    -86.4521
    Latitude
    32.4665

    Comparable in this City

    • Value Estimation by Request
      5,000 SF

      1697 Memorial Dr

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      1697 Memorial Dr, Prattville, AL 36067-6502
      View Details
    • Value Estimation by Request
      1,540 SF

      1068 Memorial Dr

      RETAIL STORES (PERSONAL SERVICES)
      1068 Memorial Dr, Prattville, AL 36067-6217
      View Details
    • Value Estimation by Request
      2,100 SF

      844 Memorial Dr

      RETAIL STORES (PERSONAL SERVICES)
      844 Memorial Dr, Prattville, AL 36067-5714
      View Details
    • Value Estimation by Request
      1,107 SF

      1131 Old Hwy 31

      RETAIL STORES (PERSONAL SERVICES)
      1131 Old Hwy 31, Prattville, AL 36067-6201
      View Details
    • Value Estimation by Request
      1,196 SF

      122 Tichnor Ave

      RETAIL STORES (PERSONAL SERVICES)
      122 Tichnor Ave, Prattville, AL 36067-3036
      View Details
    • Value Estimation by Request
      2,532 SF

      124 Tichnor Ave

      RETAIL STORES (PERSONAL SERVICES)
      124 Tichnor Ave, Prattville, AL 36067-3036
      View Details

    Similar Nearby for Sale

    • $89,900
      1,554 SF

      Prattville Commercial Building For Sale

      1554 SF building on 0.5 acre lot in Prattville, AL.
      1717 S Memorial Dr, Prattville, AL 36067
      View Details
    • Contact for pricing

      High-Traffic Shopping Center Space Available

      Prime retail space in busy Prattville shopping center.
      703-719 E Main St, Prattville, AL 36067
      View Details
    • Contact for pricing
      10,640 SF

      Dollar General Plus For Sale

      Dollar General Plus in Montgomery MSA, absolute net lease.
      1986 County Road 57, Prattville, AL 36067
      View Details
    • Contact for pricing

      Restaurant Building on Half Acre

      1550 SF restaurant on 0.5 acre lot for sale.
      1717 S Memorial Dr, Prattville, AL 36067
      View Details
    • Contact for pricing
      700 SF

      Freestanding Drive-Thru in Retail Corridor

      Former coffee drive-thru in Prattville's retail hub.
      400 S Memorial Dr, Prattville, AL 36067
      View Details
    • $40,000
      1.00 Acre

      Prattville Vacant Residential Land

      Two residential lots totaling approximately 1 acre in Prattville.
      623 Martin Luther King Jr. Dr, Prattville, AL 36067
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Busy Shopping Center in Prattville

      Located on Main Street, high-traffic shopping center connected to Winn-Dixie.
      703-719 E Main St, Prattville, AL 36067
      View Details
    • $825 /Mo

      Retail Space in Prattville, AL

      Retail space ideal for small businesses in a family-friendly area.
      963 S Memorial Dr, Prattville, AL 36067
      View Details
    • Contact for pricing
      5,000 SF

      Prattville Industrial Space with Lift

      5,000 SF industrial space with lift for rent.
      1669 Bridge Creek Rd, Prattville, AL 36067
      View Details
    • Contact for pricing

      Retail Space in Growing Area

      Retail and restaurant spaces available in a rapidly growing market.
      1016 Highway 14 W, Prattville, AL 36067
      View Details
    • Contact for pricing

      Distribution Warehouse with Laydown Yard

      Distribution warehouse with laydown yard in central Prattville location.
      371 G And S Rd, Prattville, AL 36067
      View Details
    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.
    151 Memorial Dr
    Prattville, AL 36067
    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

    Thank You for Inquiry
    151 Memorial Dr, Prattville, AL, 36067
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!