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    5911 Hwy 231 Hwy Wetumpka, AL 36092
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    5911 Hwy 231 Hwy Wetumpka, AL 36092

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    • Commercial real estate
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 5911 Hwy 231 Hwy

    Property type
    Commercial real estate

    Description

    This exceptional 1600000 USD commercial property presents a unique investment opportunity in the thriving Wetumpka, Alabama market. Situated on Highway 231, this strategically located lot boasts high visibility and traffic counts, making it ideal for a variety of commercial developments. The property's adjacency to a casino and a growing downtown area further enhances its appeal and potential for significant returns. The location offers unparalleled access to a major US highway, ensuring convenient access for customers and employees. This large commercial lot is perfectly positioned to capitalize on the rapid growth experienced in central Alabama. Its prime location makes it an attractive site for a hotel, multiple retail establishments, or restaurants. The high demand for commercial space in this area underscores the significant potential for future appreciation. This is a rare chance to acquire a substantial piece of land in a booming market, offering exceptional prospects for long-term growth and profitability. The property is ready for immediate development, presenting a turnkey opportunity for investors seeking a high-impact commercial venture. Don't miss this chance to secure a prime piece of Wetumpka real estate.

    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
    -86.2063
    Latitude
    32.5273

    Comparable in this City

    • Value Estimation
      $1,190,000
      8,122 SF

      121 Brg St

      COMMERCIAL (GENERAL) • 8,122 SF
      121 Brg St, Wetumpka, AL 36092-2712
      View Details
    • Value Estimation by Request
      3,030 SF

      301 Autauga St

      COMMERCIAL (GENERAL) • 3,030 SF
      301 Autauga St, Wetumpka, AL 36092-2119
      View Details
    • Value Estimation by Request
      1,020 SF

      Charles N Ave

      COMMERCIAL (GENERAL) • 1,020 SF
      Charles N Ave, Wetumpka, AL 36092
      View Details
    • Value Estimation by Request
      2,973 SF

      Main St

      COMMERCIAL (GENERAL) • 2,973 SF
      Main St, Wetumpka, AL 36092
      View Details
    • Value Estimation by Request
      2,834 SF

      91 Sanford Ln

      COMMERCIAL (GENERAL) • 2,834 SF
      91 Sanford Ln, Wetumpka, AL 36092-8136
      View Details
    • Value Estimation by Request
      480 SF

      927 Company St

      COMMERCIAL (GENERAL) • 480 SF
      927 Company St, Wetumpka, AL 36092-2019
      View Details

    Similar Nearby for Sale

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      Large commercial lot in Wetumpka, Alabama, suitable for development.
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      6.6 acres of unrestricted land, endless possibilities for your vision.
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      1.17 Acres

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    Similar Nearby for Lease

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      Renovated Shopping Center in Wetumpka

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      Retail Space in Growing Area

      Shopping center with high visibility in Wetumpka, Alabama.
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    • $1,000 /Mo
      1,200 SF

      Versatile Commercial Space For Lease

      1200 sq ft commercial space suitable for various businesses.
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      Retail Space Near National Tenants

      Retail space in a Publix-anchored shopping center.
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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.
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    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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