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    231 Hwy Montgomery, AL 36116
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    231 Hwy Montgomery, AL 36116

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    • Land
    • 155.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 231 Hwy

    Lot size
    155.00 lot acres
    Property type
    Land

    Description

    This exceptional 155-acre commercial land parcel presents a significant investment opportunity in Montgomery, Alabama. Located on S Hwy 231, this property enjoys a high-traffic location with an average annual daily traffic count of approximately 23,320 vehicles on Troy Highway. Its strategic position offers convenient access to major transportation arteries, including proximity to I-85 (approximately 5.3 miles) and I-65 (approximately 7.7 miles). The property is zoned M-1 & R-65-M, allowing for diverse development options including retail, industrial, and residential uses. Several parcels are available, ranging in size from 0.68 acres to 31.9 acres, catering to various project scales. The site's proximity to Maxwell Air Force Base (approximately 14.4 miles), serving a community of 25,000 active duty personnel, contractors, and retirees, as well as the Air Force University with 20,000 annual attendees, provides access to a substantial and stable population base. This expansive acreage offers ample space for large-scale developments, capitalizing on the high visibility and strong demographics of this desirable Montgomery location. The diverse zoning allows for flexibility in project planning, making this a truly unique and compelling investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Montgomery
    State
    Alabama
    Longitude
    -86.2055
    Latitude
    32.3017

    Comparable in this City

    • Value Estimation by Request
      0.56 Acres

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    • Value Estimation by Request
      3.80 Acres

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      32.11 Acres

      Park Xing And Taylor Rd

      Land • 32.11 Acres
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      2.87 Acres

      Intersection Of Bell Rd And Young Mdw Rd

      Land • 2.87 Acres
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    • Value Estimation by Request
      14.27 Acres

      5850 Taylor Rd

      Land • 14.27 Acres
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    • Value Estimation by Request
      4.13 Acres

      Taylor Rd At Billingsley Pl

      Land • 4.13 Acres
      0 Taylor Rd At Billingsley Pl, Montgomery, AL 36116
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    Similar Nearby for Sale

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      84.00 Acres

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      Land Tract on Narrow Lane

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    Similar Nearby for Lease

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      Class A Office Building

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      Retail Space in Shadow Center

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      Walmart Anchored Shadow Center

      Retail space with high traffic and strong consumer base.
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      East Montgomery Retail Space Available

      Well-maintained retail space in a high-growth East Montgomery area.
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      Office Space on Vaughn Road

      Office space for lease with high visibility and easy access.
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      Retail Space on Eastern Blvd

      Shopping center with high traffic and excellent visibility.
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    231 Hwy
    Montgomery, AL 36116
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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.

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