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

    1302 Redmont Dr Red Bay, AL 35582-3248

    • Retail properties
    • 3,640 SF
    • 3.46 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1418960
    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

    • Retail properties

    Property Details for 1302 Redmont Dr

    Year built
    1981
    Construction
    FRAME
    Lot size
    3.46 lot acres
    Property size
    3,640 SF
    Property type
    Retail properties
    APN
    07 04 17 0 000 014.0010
    APU
    7041700000140010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Red Bay
    County
    Franklin
    State
    Alabama
    Longitude
    -88.1426
    Latitude
    34.4621

    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
    $757
    $1,280
    $27,120
    $28,400
    -
    $0.00
    $0.00
    $99,500

    Comparable in this City

    • Value Estimation by Request
      4,100 SF

      6th N Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,100 SF
      6th N Ave, Red Bay, AL 35582
      View Details
    • Value Estimation by Request
      840 SF

      Co Hwy 9th 9

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 840 SF
      Co Hwy 9th 9, Red Bay, AL 35582
      View Details
    • Value Estimation by Request
      2,736 SF

      Dogwood Dr

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,736 SF
      Dogwood Dr, Red Bay, AL 35582
      View Details
    • Value Estimation by Request
      2,960 SF

      Bullard Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,960 SF
      Bullard Rd, Red Bay, AL 35582
      View Details
    • Value Estimation by Request
      768 SF

      Co Hwy B-3

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 768 SF
      Co Hwy B-3, Red Bay, AL 35582
      View Details
    • Value Estimation by Request
      5,640 SF

      16th N Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 5,640 SF
      16th N Ave, Red Bay, AL 35582
      View Details

    Similar Nearby for Sale

    • $318,000
      106.00 Acres

      Versatile Land with Income Potential

      106+ acre multi-use tract with recreational and investment potential.
      Reedy Br Rd, Red Bay, AL 35582
      View Details
    • $125,000
      0.44 Acres

      Red Bay Commercial Building Opportunity

      Commercial building in Red Bay, AL, offered at auction.
      607 4Th St NW, Red Bay, AL 35582
      View Details
    • $175,000
      1,970 SF

      Red Bay Office Building

      Well-built office building suitable for medical or general office use.
      513 3Rd St, Red Bay, AL 35582
      View Details
    • Contact for pricing
      1.00 Acre

      Red Bay Vacant Lot

      Vacant lot with city utilities access in Red Bay.
      E 4Th St, Red Bay, AL 35582
      View Details
    • New
      $434,500
      3,670 SF

      Farmhouse with Creek and Pool

      Farmhouse on 14.8 acres with pool and creek.
      134 Highway 290, Red Bay, AL 35582
      View Details
    • $300,000
      4,568 SF

      Red Bay Commercial Building For Sale

      Commercial building with office, warehouse, loading dock, and expansion potential.
      111 5Th Ave, Red Bay, AL 35582
      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.
    1302 Redmont Dr
    Red Bay, AL 35582-3248
    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

    Google sign-in failed. Please try again or use another login method.