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    132 Asbury Park Dr Dothan, AL 36301-2345

    • Apartment buildings
    • 0.37 lot acres
    OFF-MARKET
    Last Sale
    Feb 05, 2024
    $266,419
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-3087842
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 132 Asbury Park Dr

    Lot size
    0.37 lot acres
    Property type
    Apartment buildings
    APN
    10-08-33-1-000-001-083
    APU
    1008331000001083

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Estimation
      $265,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $300,000
      6.5%
      $310,000
      7%
      $310,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $280,000
      Geo Method
      $320,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $330,000
      Retail
      $315,000
      Mixed-Use
      $245,000
      Hospitality
      $260,000
      Educational
      $305,000
      Residential Income
      $250,000
      Energy
      $305,000
      Income-Based Land
      $250,000
      Food Service
      $295,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Dothan
    County
    Houston
    State
    Alabama
    Longitude
    -85.3348
    Latitude
    31.1956
    CBSA code
    20020
    CBSA name
    DOTHAN, AL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $248
    $0.00
    $0.00
    $7,200
    -
    $36,000
    $0.00
    $36,000

    Comparable in this City

    • Value Estimation
      $260,000
      0.19 Acres

      638 Ridgeland Rd

      APARTMENT HOUSE (5+ UNITS) • 0.19 Acres
      638 Ridgeland Rd, Dothan, AL 36301-1152
      View Details
    • Value Estimation
      $265,000
      0.43 Acres

      150 Asbury Park Dr

      APARTMENT HOUSE (5+ UNITS) • 0.43 Acres
      150 Asbury Park Dr, Dothan, AL 36301-2345
      View Details
    • Value Estimation
      $285,000
      0.45 Acres

      130 Asbury Park Dr

      APARTMENT HOUSE (5+ UNITS) • 0.45 Acres
      130 Asbury Park Dr, Dothan, AL 36301-2345
      View Details
    • Value Estimation
      $270,000

      110 Halls Crk Ln

      APARTMENT HOUSE (5+ UNITS)
      110 Halls Crk Ln, Dothan, AL 36301-5768
      View Details
    • Value Estimation
      $335,000
      0.54 Acres

      156 Asbury Park Dr

      APARTMENT HOUSE (5+ UNITS) • 0.54 Acres
      156 Asbury Park Dr, Dothan, AL 36301-2345
      View Details
    • Value Estimation
      $280,000

      205 Mairead Dr

      APARTMENT HOUSE (5+ UNITS)
      205 Mairead Dr, Dothan, AL 36301-6903
      View Details

    Similar Nearby for Sale

    • $2,900,000
      0.33 Acres

      Downtown Dothan Mixed-Use Building

      Redeveloped mixed-use building with retail and luxury apartments.
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    • $399,000
      2,400 SF

      New Duplex in Rehobeth School

      New 3-bedroom duplex with fenced yard, convenient location.
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      1,595 SF

      Dothan Duplex with Fenced Yards

      Two-unit duplex in Dothan, Alabama with long-term tenants.
      804 Dusy St, Dothan, AL 36301
      View Details
    • $350,000
      4,160 SF

      Dothan Duplex Investment Opportunity

      Two duplex buildings with existing tenants in Dothan, Alabama.
      704 Lakeview Dr, Dothan, AL 36301
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    • $2,200,000
      15.00 Acres

      Dothan RV Park For Sale

      RV park with expansion potential near Dothan, Alabama.
      7579 Eddins Rd, Dothan, AL 36301
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    • New
      $775,000
      Pending

      Income-Producing Triplex in Dothan, AL

      Modern triplex with four-bedroom units, great investment opportunity.
      411-503 Kornegay St, Dothan, AL 36301
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      104,334 SF

      Wiregrass Warehouse Space Available

      Dothan, AL Warehouse - 29,814 SF
      119 Anderson Ct, Dothan, AL 36301
      View Details
    • Contact for pricing

      Retail Space in Dothan, Alabama

      New construction retail space with high visibility and access.
      2776 W Main St, Dothan, AL 36301
      View Details
    • $6 SF/Yr
      33,740 SF

      Dothan Retail Space Available

      Spacious retail property suitable for furniture, appliance, or flooring store.
      2702 Ross Clark Cir, Dothan, AL 36301
      View Details
    • $1,500 /Mo
      2,100 SF

      Dothan Retail Space For Rent

      Retail space available in high-traffic Dothan location.
      1799 Ross Clark Cir, Dothan, AL 36301
      View Details
    • $10 SF/Yr
      1,536 SF

      Retail Space Available For Rent

      Retail space available for lease, totaling 1,536 square feet.
      2261 S Oates St, Dothan, AL 36301
      View Details
    • $4 SF/Yr
      31,290 SF

      Dothan, AL Industrial Flex Space

      31,290 SF Flex Warehouse, Single Tenant
      119 Anderson Ct, Dothan, AL 36301
      View Details
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    Dothan, AL 36301-2345
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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.

    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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