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    1402 Highland Ave Selma, AL 36703-3227

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    1402 Highland Ave Selma, AL 36703-3227

    View on Map
    • Automotive properties
    • 12,767 SF
    • 1.49 lot acres
    Off-Market
    Last Sale Jun 13, 2023
    $4,395,000
    Property ID
    US03-1082142
    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
    $4,395,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Merchant Honda / Car Dealership

    Property Details for 1402 Highland Ave

    Year built
    2015
    Construction
    METAL FRAME
    Lot size
    1.49 lot acres
    Property size
    12,767 SF
    Zone code
    C
    Property type
    Automotive properties
    APN
    12041900030040070
    APU
    12041900030040070

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,570,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Selma
    County
    Dallas
    State
    Alabama
    Longitude
    -87.0138
    Latitude
    32.4308
    CBSA code
    42820
    CBSA name
    SELMA, 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
    $14,618
    $0.00
    $0.00
    $254,220
    -
    $170,000
    $1,101,100
    $1,271,100

    Comparable in this City

    • Value Estimation
      $600,000
      19,141 SF

      1800 Al Hwy 14th E

      VEHICLE SALES, RENTALS • 19,141 SF
      1800 Al Hwy 14th E, Selma, AL 36703-1525
      View Details
    • Value Estimation by Request
      10,878 SF

      16 Lawrence St

      VEHICLE SALES, RENTALS • 10,878 SF
      16 Lawrence St, Selma, AL 36703-3868
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    • Value Estimation by Request
      636 SF

      1119 Jeff Davis Ave

      VEHICLE SALES, RENTALS • 636 SF
      1119 Jeff Davis Ave, Selma, AL 36703
      View Details
    • Value Estimation by Request
      200 SF

      Selma, AL 36703

      AUTO REPAIR, GARAGE • 200 SF
      Selma, AL 36703
      View Details
    • Value Estimation by Request
      9.50 Acres

      Selma, AL 36703

      AUTO REPAIR, GARAGE • 9.50 Acres
      Selma, AL 36703
      View Details
    • Value Estimation by Request
      5,000 SF

      1901 Cecil Jackson Pkwy

      AUTO REPAIR, GARAGE • 5,000 SF
      1901 Cecil Jackson Pkwy, Selma, AL 36703
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      24,849 SF

      Selma Plaza Retail Center

      Fully leased retail center anchored by Dollar Tree and CATO.
      2414 Kimble Rd, Selma, AL 36703
      View Details
    • Contact for pricing
      24,849 SF

      Fully Leased Selma Plaza Retail

      24,849 SF multi-tenant retail center in Selma, Alabama.
      2414 Kimble Rd, Selma, AL 36703
      View Details
    • $380,000

      Selma Commercial Building Opportunity

      Prime Selma location, $380,000. Great investment potential.
      20 Washington St, Selma, AL 36703
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    • Contact for pricing

      Land For Sale

      Land available for purchase.
      619 Short St, Selma, AL 36703
      View Details
    • $48,000
      3.18 Acres

      Land in Valley Grande, Alabama

      Large 3.18 acre lot, ideal for building a new home.
      2075 County Road 81, Valley Grande, AL 36703
      View Details
    • $75,000
      2,509 SF

      Selma Club Building and Lot

      Club building and lot for sale in historic Selma.
      205 Maxey St, Selma, AL 36703
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Historic Selma Storefront Available

      Historic storefront in Selma, Alabama with revitalization potential.
      1223 Water Ave, Selma, AL 36703
      View Details
    • Contact for pricing

      Selma Industrial Space For Rent

      Industrial space available for rent in Selma, Alabama.
      1112 Singleton Dr, Selma, AL 36703
      View Details
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    1402 Highland Ave
    Selma, AL 36703-3227
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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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