Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1005 Hwy 231 Troy, AL 36081
    Back to Search
    Property profile & analytics

    1005 Hwy 231, Troy, AL 36081

    View on Map
    • Retail residential properties
    • 1,920 SF
    • 0.20 lot acres
    Off-Market
    Property ID
    US03-2458449
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail residential properties

    Property Details for 1005 Hwy 231

    Year built
    1986
    Construction
    WOOD
    Lot size
    0.20 lot acres
    Zone code
    C
    Property type
    Retail residential properties
    APN
    55 17 03 05 4 002 004.003
    APU
    551703054002004003

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 17, 2016 — Truong Kennedy Wjr LLC Warranty Deed —
    Oct 26, 2012 — Wjr LLC Massey Properties LLC Warranty Deed —
    Aug 8, 2011 — Massey Properties LLC Jim Massey Real Estate LLC Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Pike
    State
    Alabama
    Longitude
    -85.9632
    Latitude
    31.7847
    CBSA code
    45980
    CBSA name
    TROY, AL MICROPOLITAN 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
    $1,508
    $0.00
    $0.00
    $40,800
    -
    $94,900
    $109,080
    $203,980

    Comparable in this City

    • Value Estimation by Request
      2,581 SF

      3 Notch

      STORES & APARTMENTS
      3 Notch, Troy, AL 36081
      View Details
    • Value Estimation by Request
      2,232 SF

      202 3rd Notch St

      STORES & APARTMENTS
      202 3rd Notch St, Troy, AL 36081-2012
      View Details
    • Value Estimation by Request
      2,216 SF

      Al Hwy 223

      STORES & APARTMENTS
      Al Hwy 223, Troy, AL 36081
      View Details
    • Value Estimation by Request
      1,920 SF

      116 Oak St

      STORES & APARTMENTS
      116 Oak St, Troy, AL 36081-2622
      View Details
    • Value Estimation by Request
      2,280 SF

      Troy, AL 36081

      STORES & APARTMENTS
      Troy, AL 36081
      View Details
    • Value Estimation
      $1,025,000
      9,425 SF

      Troy, AL 36081

      STORES & APARTMENTS
      Troy, AL 36081
      View Details

    Similar Nearby for Sale

    • $299,000
      1,851 SF

      Troy Commercial Property with Home

      Commercial property with renovated home and additional rental opportunity.
      12334 Us Highway 231 South, Troy, AL 36081
      View Details
    • $440,000
      3,155 SF

      Troy Commercial Property For Sale

      Commercial property with home and office/warehouse buildings on 1 acre.
      303 Corman Ave, Troy, AL 36081
      View Details
    • $1,400,000

      Historic Mixed-Use Portfolio in Troy

      Renovated mixed-use buildings in downtown Troy, Alabama.
      76 North Court Sq, Troy, AL 36081
      View Details
    • Contact for pricing

      Vacant Lot Near Troy University

      Vacant land located near Troy University, suitable for development.
      107 Martin Luther King Dr, Troy, AL 36081
      View Details
    • Contact for pricing

      100 Acres Sportsman's Paradise

      100-acre property near Troy University, ideal for hunting and recreation.
      3751 Butter And Egg Rd, Troy, AL 36081
      View Details
    • $1,450,000
      1.27 Acres

      Troy, AL Development Property

      Prime development property near Troy University and Lake Lagoona Park.
      516to617 Folmar & Madison St, Troy, AL 36081
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Neighborhood Shopping Center Suites Available

      Suites available in a highly visible neighborhood shopping center.
      1019 S Brundidge St, Troy, AL 36081
      View Details
    • Contact for pricing
      1,120 SF

      Office Space in Troy, AL

      Commercial office space available for rent in Troy, Alabama.
      1332 S Brundidge St, Troy, AL 36081
      View Details
    • Contact for pricing
      850 SF

      Office Space in Troy, AL

      850 SF office space for rent in Troy.
      96 Corley St, Troy, AL 36081
      View Details
    • Contact for pricing

      High-Visibility Retail Space in Troy

      New retail space near Troy University and local landmarks.
      701 Brundidge Blvd, Troy, AL 36081
      View Details
    • Contact for pricing

      Retail Space Near Walmart

      Retail space available in front of Walmart Supercenter in Troy.
      1420 Highway 231 S, Troy, AL 36081
      View Details
    • Contact for pricing
      850 SF

      Office Space in Troy, AL

      850 SF office space for rent in Troy.
      94 Corley St, Troy, AL 36081
      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.
    1005 Hwy 231
    Troy, AL 36081
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1005 Hwy 231, Troy, AL, 36081
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!