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

    107 Petty Ln Bay Minette, AL 36507-4124

    • Apartment buildings
    • 6,826 SF
    • 1.22 lot acres
    OFF-MARKET
    Last Sale
    Apr 02, 2024
    $875,000
    Value Estimations
    $875,000
    Show details
    Cap Rate Potential
    6.4%
    Apartment buildings
    Location Intelligence
    Property ID
    US03-2158331
    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 107 Petty Ln

    Year built
    1977
    Lot size
    1.22 lot acres
    Property size
    6,826 SF
    Property type
    Apartment buildings
    APN
    23-03-05-1-000-016
    APU
    2303051000016

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $875,000
      ML approach
      $875,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $925,000
      6.5%
      $855,000
      7%
      $795,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Bay Minette
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.7865
    Latitude
    30.9056
    CBSA code
    19300
    CBSA name
    DAPHNE-FAIRHOPE, 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
    $4,095
    $12,140
    $84,220
    $96,360
    -
    $60,700
    $421,100
    $481,800

    Comparable in this City

    • Value Estimation
      $565,000
      6,656 SF

      153 16th St

      APARTMENT HOUSE (5+ UNITS) • 6,656 SF
      153 16th St, Bay Minette, AL 36507-5029
      View Details
    • Value Estimation by Request
      3,860 SF

      299 Hospital St

      APARTMENT HOUSE (5+ UNITS) • 3,860 SF
      299 Hospital St, Bay Minette, AL 36507
      View Details
    • Value Estimation by Request
      2,413 SF

      810 Dolive St

      APARTMENT HOUSE (5+ UNITS) • 2,413 SF
      810 Dolive St, Bay Minette, AL 36507
      View Details
    • Value Estimation by Request
      3,832 SF

      Armstrong Ave

      APARTMENT HOUSE (5+ UNITS) • 3,832 SF
      Armstrong Ave, Bay Minette, AL 36507
      View Details
    • Value Estimation
      $525,000
      4,306 SF

      208 Mcmillan Ave

      APARTMENT HOUSE (5+ UNITS) • 4,306 SF
      208 Mcmillan Ave, Bay Minette, AL 36507-3242
      View Details
    • Value Estimation
      $515,000
      4,752 SF

      1904 Hand Ave

      APARTMENT HOUSE (5+ UNITS) • 4,752 SF
      1904 Hand Ave, Bay Minette, AL 36507-4186
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.50 Acres

      Highway 59 Commercial Land Parcels

      Bay Minette, AL: Prime Commercial Land
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    • $125,000
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      Prime Bay Minette Commercial Land

      1-Acre B2 Zoned Lot, Excellent Visibility
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    • $159,900
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      Bay Minette Land Parcel

      3+ acre land parcel in new North Baldwin subdivision.
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    • $549,900
      69.00 Acres

      Waterfront Land Near Interstate-10

      Waterfront land for fishing, hunting, timber investment, and cabin construction.
      County Road 64, Robertsdale, AL 36507
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    • $189,900
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      Estate Sized Residential Lots

      2-3 acre lots ready for your dream homestead.
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    • Contact for pricing
      1.00 Acre

      Private Lot with Mature Trees

      One-acre lot in Bay Minette, ideal for building a home.
      7645 Bromley Rd, Bay Minette, AL 36507
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    Similar Nearby for Lease

    • $2,500 /Mo
      1,773 SF

      Bay Minette Drive-Thru Retail Space

      High-traffic corner, 1773 SF, NNN Lease
      910 Bay Minette Bypass, Bay Minette, AL 36507
      View Details
    • $5 SF/Yr
      90,000 SF

      Bay Minette Industrial Warehouse Lease

      90,000 SF warehouse; ideal industrial space.
      801 US Highway 31, Bay Minette, AL 36507
      View Details
    • $5 SF/Yr
      115,424 SF

      Bay Minette Industrial Warehouse

      115,000 SF Warehouse - Immediate Lease
      801 US Highway 31, Bay Minette, AL 36507
      View Details
    • $10,000 /Mo
      3,375 SF

      Bay Minette Industrial Property For Lease

      5.9-acre trucking facility with 3,375 SF flex space.
      717 Daphne Rd, Bay Minette, AL 36507
      View Details
    • $5 SF/Yr
      750,000 SF

      Highway 31 Industrial Campus

      750,000 SF Multi-Use Industrial Space
      801 Us Highway 31, Bay Minette, AL 36507
      View Details
    • $6,500 /Mo
      1,530 SF

      Bay Minette Texaco: Prime Retail Space

      Newly renovated Texaco station; 1,530 sq ft.
      415 D'Olive Street, Bay Minette, AL 36507
      View Details
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    107 Petty Ln
    Bay Minette, AL 36507-4124
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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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