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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Us Highway 31 Thorsby, AL 35171

    • Commercial real estate
    • 7.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for Us Highway 31

    Lot size
    7.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 7-acre commercial property presents a unique investment opportunity in Thorsby, Alabama. Strategically located on US Highway 31, this parcel boasts an impressive 500 feet of road frontage, ensuring high visibility and accessibility for any business. Additional road frontage is also available on 3rd Street, providing multiple access points. The land is completely cleared and level, eliminating the need for extensive site preparation, making it ideal for immediate development. This prime location offers significant advantages, situated conveniently between the major metropolitan areas of Birmingham and Montgomery, providing access to a large and diverse customer base. The property's size and highway frontage make it suitable for a wide range of commercial ventures, from retail establishments and restaurants to light industrial uses and office spaces. The asking price of $350,000 represents a compelling value for a build-ready site with such prominent highway exposure in a rapidly growing region of central Alabama. This is a rare opportunity to acquire a highly visible and strategically located commercial parcel ready for immediate development. Don't miss out on this chance to establish your business in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Thorsby
    County
    Chilton
    State
    Alabama
    Longitude
    -86.6984
    Latitude
    32.9007

    Comparable in this City

    • Value Estimation by Request
      8,000 SF

      Sims Dr

      STORE/OFFICE (MIXED USE) • 8,000 SF
      Sims Dr, Thorsby, AL 35171
      View Details
    • Value Estimation by Request
      1,411 SF

      Jones St At Us Hwy

      STORE/OFFICE (MIXED USE) • 1,411 SF
      Jones St At Us Hwy, Thorsby, AL 35171
      View Details
    • Value Estimation by Request
      1,920 SF

      Ellison Rd

      STORE/OFFICE (MIXED USE) • 1,920 SF
      Ellison Rd, Thorsby, AL 35171
      View Details
    • Value Estimation by Request
      843 SF

      Industrial Dr

      WAREHOUSE, STORAGE • 843 SF
      Industrial Dr, Thorsby, AL 35171
      View Details
    • Value Estimation by Request
      1,680 SF

      Ellison Rd

      OFFICE BUILDING • 1,680 SF
      Ellison Rd, Thorsby, AL 35171
      View Details
    • Value Estimation by Request
      492 SF

      145 Alabama Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 492 SF
      145 Alabama Ave, Thorsby, AL 35171-7082
      View Details

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    • $350,000
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      Cleared Land on Highway 31

      7-acre commercial land parcel with highway frontage in Thorsby, AL.
      Us Highway 31, Thorsby, AL 35171
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    Thorsby, AL 35171
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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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