Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    246 Lee Rd Smiths Station, AL 36877

    • Strip malls
    • 4,000 SF
    • 0.88 lot acres
    OFF-MARKET
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1830562
    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

    • Strip malls

    Property Details for 246 Lee Rd

    Year built
    1997
    Lot size
    0.88 lot acres
    Property size
    4,000 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    14-09-31-0-002-088-002
    APU
    1409310002088002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Smiths Station
    County
    Lee
    State
    Alabama
    Longitude
    -85.0669
    Latitude
    32.5076
    CBSA code
    12220
    CBSA name
    AUBURN-OPELIKA, 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
    $2,611
    $17,440
    $55,680
    $73,120
    -
    $87,200
    $278,400
    $365,600

    Comparable in this City

    • Value Estimation
      $240,000
      6,000 SF

      9515 Mullin Rd

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      9515 Mullin Rd, Smiths Station, AL 36877-3749
      View Details
    • Value Estimation
      $365,000
      13,288 SF

      2461 Panther Pkwy

      SHOPPING CENTER, STRIP CENTER • 13,288 SF
      2461 Panther Pkwy, Smiths Station, AL 36877-4316
      View Details
    • Value Estimation by Request

      2461 Panther Pkwy

      Shopping malls
      2461 Panther Pkwy, Smiths Station, AL 36877
      View Details
    • Value Estimation
      $225,000
      1,520 SF

      15405 Us Hwy 280th E

      RESTAURANT • 1,520 SF
      15405 Us Hwy 280th E, Smiths Station, AL 36877-2685
      View Details
    • Value Estimation
      $295,000
      1,524 SF

      1521 Lee Rd 379

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,524 SF
      1521 Lee Rd 379, Smiths Station, AL 36877-3345
      View Details
    • Value Estimation
      $265,000
      1,960 SF

      430 Lee Rd

      RESTAURANT • 1,960 SF
      430 Lee Rd, Smiths Station, AL 36877
      View Details

    Similar Nearby for Sale

    • $475,000
      1,658 SF

      Commercial Potential on Residential Property

      Residential property with commercial potential, rezoning needed, high visibility location.
      2854 Lee Road 239, Smiths Station, AL 36877
      View Details
    • $199,000
      17.60 Acres

      Smiths Station Land For Sale

      17.6 acres in Smiths Station, convenient to Phenix City.
      0300 Lee Rd, Smiths Station, AL 36877
      View Details
    • $270,000
      20.80 Acres

      20.8 Acres in Lee County

      20.8-acre agricultural land, ideal for homestead or development.
      3198 Lee Road 246, Smiths Station, AL 36877
      View Details
    • $199,000
      17.60 Acres

      17.6 Acres in Smiths Station

      Land in Smiths Station, AL, perfect for homesite or recreation.
      Sunnylane Dr, Smiths Station, AL 36877
      View Details
    • New
      $64,900
      1.56 Acres

      Smiths Station Acreage for Homebuilding

      1.56+/- acre wooded lot near amenities, build your dream home.
      Lee Road 239, Smiths Station, AL 36877
      View Details
    • New
      Contact for pricing
      0.41 Acres

      Residential Lot in Smiths Station

      Corner lot with utilities ready for your dream home.
      98 Lee Road 585, Smiths, AL 36877
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      5,000 SF

      Panther Parkway Retail Center

      High-Visibility Retail Space, Lee County
      2461 Panther Pkwy, Smiths Station, AL 36877
      View Details
    • Contact for pricing
      8,000 SF

      Smiths Station Office Space

      8,000 sq ft, high-visibility location.
      16583 Us Highway 280, Smiths Station, AL 36877
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    246 Lee Rd
    Smiths Station, AL 36877
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.