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

    1242 24th Ave Bessemer, AL 35023-3666

    • Warehouses
    • 1,820 SF
    • 1.58 lot acres
    OFF-MARKET
    Value Estimations
    $265,000
    Show details
    Cap Rate Potential
    9.3%
    Warehouses
    Location Intelligence
    Property ID
    US03-0655151
    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

    • Philadelphia Gear / Manufacturer

    Property Details for 1242 24th Ave

    Year built
    1985
    Lot size
    1.58 lot acres
    Property size
    1,820 SF
    Zone code
    M1
    Property type
    Warehouses
    APN
    38-00-05-3-005-005.000
    APU
    3800053005005000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $220,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $340,000
      6.5%
      $315,000
      7%
      $290,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $290,000
      AUTO REPAIR, GARAGE
      $255,000
      NEIGHBORHOOD: SHOPPING CENTER
      $255,000
      RETAIL STORES
      $175,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Bessemer
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.9877
    Latitude
    33.4134
    CBSA code
    13820
    CBSA name
    BIRMINGHAM-HOOVER, 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
    2022
    $5,551
    $10,360
    $113,600
    $123,960
    -
    $51,800
    $568,000
    $619,800

    Comparable in this City

    • Value Estimation
      $215,000
      1,266 SF

      1927 27th N Ave

      WAREHOUSE, STORAGE • 1,266 SF
      1927 27th N Ave, Bessemer, AL 35023-3260
      View Details
    • Value Estimation
      $165,000
      2,400 SF

      595 Owen Cir

      WAREHOUSE, STORAGE • 2,400 SF
      595 Owen Cir, Bessemer, AL 35023-1830
      View Details
    • Value Estimation
      $335,000
      6,660 SF

      5925 Johns Rd

      WAREHOUSE, STORAGE • 6,660 SF
      5925 Johns Rd, Bessemer, AL 35023-5950
      View Details
    • Value Estimation
      $235,000
      7,900 SF

      5920 Johns Rd

      WAREHOUSE, STORAGE • 7,900 SF
      5920 Johns Rd, Bessemer, AL 35023-5931
      View Details
    • Value Estimation
      $260,000
      9,170 SF

      24 Commerce Ave

      WAREHOUSE, STORAGE • 9,170 SF
      24 Commerce Ave, Bessemer, AL 35023-2851
      View Details
    • Value Estimation
      $345,000
      6,824 SF

      3458 Warrior Riv Rd

      WAREHOUSE, STORAGE • 6,824 SF
      3458 Warrior Riv Rd, Bessemer, AL 35023-1150
      View Details

    Similar Nearby for Sale

    • $400,000
      5.17 Acres

      Hueytown Warehouse on 5+ Acres

      18,000+ sqft warehouse with offices, showroom, and loading docks.
      800 Dee Hendrix Rd, Bessemer, AL 35023
      View Details
    • $365,000
      0.80 Acres

      Multi-Tenant Industrial Building For Sale

      7,000 SF multi-tenant industrial building in Hueytown, Alabama.
      102 Pine Ave, Bessemer, AL 35023
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    • $625,000
      0.42 Acres

      Hueytown Office Building - Great Potential

      Versatile Office Space, High Visibility, 4,800 sq ft
      108 Brooklane Dr, Hueytown, AL 35023
      View Details
    • Contact for pricing
      Pending

      Residential Lot in Vineland Park

      Level lot in Hueytown's Vineland Park subdivision, ready for building.
      306 Sunrise Blvd, Bessemer, AL 35023
      View Details
    • $30,000
      0.71 Acres

      Residential Lot in Bessemer, AL

      0.71-acre lot perfect for building your dream home.
      63 Johnson Dr, Bessemer, AL 35023
      View Details
    • Contact for pricing
      0.34 Acres

      Residential Lot in Established Neighborhood

      Flat, lightly wooded lot ready for new home construction.
      921 Pinehaven Dr, Bessemer, AL 35023
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      2,215 SF

      Hueytown Retail Space For Rent

      Retail space available on Forest Road in Hueytown, Alabama.
      246-270 Forest Rd, Bessemer, AL 35023
      View Details
    • Contact for pricing
      6,984 SF

      Retail/Medical Space Sublease Opportunity

      3,304 SF retail/medical space in high-traffic Hueytown corridor.
      2731 Allison-Bonnett Memorial Dr, Hueytown, AL 35023
      View Details
    • Contact for pricing

      Land Near River Square Plaza

      Approximately 2.29 acres available for lease or build-to-suit.
      235 Forest Rd, Bessemer, AL 35023
      View Details
    • $10 SF/Yr
      1,860 SF

      Retail Space on Forest Road

      Retail space with prominent visibility and ample parking available for rent.
      273 Forest Rd, Bessemer, AL 35023
      View Details
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    1242 24th Ave
    Bessemer, AL 35023-3666
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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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