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    20 State Hwy Courtland, AL 35618
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    20 State Hwy, Courtland, AL 35618

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    • Land
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    Cap Rate Potential
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    Current Use by Public Records

    • Land

    Property Details for 20 State Hwy

    Property type
    Land

    Description

    This exceptional 6.4-acre commercial land parcel presents a prime development opportunity in Courtland, Alabama. Strategically located at the intersection of Highway 20 and Highway 33 (Wilderness Parkway), this flat, buildable lot offers unparalleled visibility and accessibility. Ideal for a convenience store, small market, or similar commercial venture, the property boasts readily available utilities. City of Courtland utilities are in place, and water service is easily accessible through West Morgan East Lawrence Water. The expansive acreage provides ample space for development, ensuring significant potential for return on investment. Its high-traffic location at a major intersection guarantees substantial exposure to a large customer base. This is a rare chance to acquire a highly desirable commercial property in a growing area. The property's level terrain simplifies construction, minimizing development costs and timelines. Don't miss this exceptional opportunity to secure a prime commercial location in Courtland, Alabama. Contact us today to learn more about this remarkable development prospect.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Courtland
    County
    Lawrence
    State
    Alabama
    Longitude
    -87.2904
    Latitude
    34.6705

    Comparable in this City

    • Value Estimation by Request
      1,806.00 Acres

      16504 County Road 150

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      2.75 Acres

      389 Co Rd

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      389 Co Rd, Courtland, AL 35618
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      389 Co Rd

      Land
      389 Co Rd, Courtland, AL 35618
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    • Value Estimation by Request
      3,100 SF

      Courtland, AL 35618

      OFFICE BUILDING
      Courtland, AL 35618
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    • Value Estimation by Request
      3,513 SF

      Courtland, AL 35618

      STORE/OFFICE (MIXED USE)
      Courtland, AL 35618
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    • Value Estimation by Request
      1,878 SF

      Courtland, AL 35618

      STORE/OFFICE (MIXED USE)
      Courtland, AL 35618
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    Similar Nearby for Sale

    • $87,400
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      Land For Sale

      Land available for purchase.
      3939 County Road 284, Courtland, AL 35618
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    • $699,000
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      Commercial Land on Highway 20

      10+/- acres with 1,200 feet of frontage on Hwy 20.
      10.24 Acres Hwy 20, Courtland, AL 35618
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    • $699,000
      10.24 Acres

      Commercial Land on Highway 20

      10+/- acre commercial tract with highway frontage in Courtland, AL.
      Alabama Hwy 20, Courtland, AL 35618
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    Courtland, AL 35618
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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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