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    24716 Us Highway 31 Jemison, AL 35085

    • Neighborhood centers
    • 60,235 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 24716 Us Highway 31

    Year built
    1972
    Property size
    60,235 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    Invest in this established 60,235 square foot retail strip center located in Jemison, Alabama, at 24716 US-31, zip code 35085. Cobb Plaza Shopping Center sits on a 5.77-acre lot and offers multiple tenancy opportunities. The property is classified as Class C and was built in 1972. Currently, there are several spaces available, ranging from a minimum of 2,400 square feet to a maximum contiguous space of 19,400 square feet. The minimum divisible space is 5,000 square feet, providing flexibility for various business needs. The center is zoned for commercial use and is situated in Chilton County, Alabama. Its prime location along US-31 ensures high visibility and accessibility for customers. This presents a unique opportunity for businesses seeking a well-established presence in a thriving community. The property's size and layout offer potential for expansion or redevelopment, making it an attractive investment for both established businesses and new ventures. Contact us today to learn more about the available spaces and investment potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Jemison
    County
    Chilton
    State
    Alabama
    Longitude
    -86.742
    Latitude
    32.9593

    Comparable in this City

    • Value Estimation by Request
      60,235 SF

      24716 Us-31

      Lifestyle centers • 60,235 SF
      24716 Us-31, Jemison, AL 35085
      View Details
    • Value Estimation
      $335,000
      5,000 SF

      County Rd 36

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 5,000 SF
      County Rd 36, Jemison, AL 35085
      View Details
    • Value Estimation
      $255,000
      1,860 SF

      County Rd 38

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,860 SF
      County Rd 38, Jemison, AL 35085
      View Details
    • Value Estimation
      $245,000
      1,022 SF

      Us Hwy 31

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,022 SF
      Us Hwy 31, Jemison, AL 35085
      View Details
    • Value Estimation by Request
      0.76 Acres

      356 Main St

      Retail properties • 0.76 Acres
      356 Main St, Jemison, AL 35085
      View Details
    • Value Estimation
      $265,000
      2,952 SF

      County Rd 46

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,952 SF
      County Rd 46, Jemison, AL 35085
      View Details

    Similar Nearby for Sale

    • $2,800,000
      60,235 SF

      Cobb Plaza: Jemison Shopping Center

      High-yield retail center, strong tenants.
      24716 Us Highway 31, Jemison, AL 35085
      View Details
    • $1,750,000
      1.00 Acre

      Jemison Restaurant & Apartment Complex

      High-growth potential, established restaurant with apartment.
      12367 County Road 42, Jemison, AL 35085
      View Details
    • $950,000
      0.57 Acres

      Highway Commercial Investment Opportunity

      High-traffic corner lot suitable for redevelopment as gas station.
      10325 County Road 29, Clanton, AL 35085
      View Details
    • $219,000
      0.29 Acres

      Versatile Mixed-Use Commercial Building

      1,500 sq ft mixed-use building near I-65 in Jemison, AL.
      11404 County Road 42, Jemison, AL 35085
      View Details
    • $44,500
      0.04 Acres

      Jemison Main Street Business Lot

      Prime Corner Lot, Endless Potential
      161 Main St, Jemison, AL 35085
      View Details
    • $500,000

      Prime Commercial Property Jemison, AL

      23.17 acres with excellent frontage and visibility.
      16350 Hwy 29 Hwy, Jemison, AL 35085
      View Details
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    Jemison, AL 35085
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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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