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    145 Kelley Blvd Millbrook, AL 36054-2200

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    145 Kelley Blvd Millbrook, AL 36054-2200

    View on Map
    • Outlet malls
    • 217,253 SF
    • 29.84 lot acres
    Off-Market
    Last Sale Sep 18, 2024
    Property ID
    US03-1075434
    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
    $18,160,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Walmart Baby & Nursery Services / Social Service Agency / Community Center
    • Walmart Patio & Garden Services / Landscaping / General Contractor
    • Walmart Pet Services / Kennel & Boarding Facility
    • Coinstar / Bank / Credit Union
    • Walmart Home Theater Installation / Electrical Service / General Contractor

    Property Details for 145 Kelley Blvd

    Year built
    2007
    Lot size
    29.84 lot acres
    Property size
    217,253 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    15-09-31-0-002-011.007
    APU
    1509310002011007

    Description

    Hillcrest Shopping Center presents a compelling investment opportunity in the thriving Millbrook, AL market, situated just north of Montgomery and east of Prattville. This 32,630 square foot community center boasts a prominent location on Robinson Springs Road/AL Hwy 14, experiencing an average daily traffic count of approximately 32,855 vehicles. The center is anchored by a Walmart Supercenter and features a strong tenant mix including national and regional brands such as Dollar Tree, Convenient Care Millbrook, Palm Beach Tan, Cuts by Us, and American Deli. Built in 2007, the property offers ample parking with a ratio of 4.51 spaces per 1,000 square feet (a total of 147 spaces) and benefits from easy ingress/egress via a main signalized entrance on AL Hwy 14, less than one mile from I-65. The 4.5-acre lot is situated within a rapidly growing area with strong demographics, further enhanced by the Montgomery, AL MSA's high per capita income growth and low cost of doing business. Major employers in the area include Maxwell Air Force Base, Baptist Healthcare, and Hyundai Motors. Currently, there is 1,593 square feet of vacant space available. This presents a unique opportunity to capitalize on the strong existing tenancy and the continued growth of the Millbrook market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $19,973,000
      Market price range: $7.75M - $40.3M
      AI Estimate
      $14,084,000
      Market price range: $6.96M - $31.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Millbrook
    County
    Elmore
    State
    Alabama
    Longitude
    -86.3988
    Latitude
    32.4941
    CBSA code
    33860
    CBSA name
    MONTGOMERY, 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
    2023
    $42,841
    $3,247,840
    $10,999,060
    $14,246,900
    -
    $3,247,840
    $10,999,060
    $14,246,900

    Comparable in this City

    • Value Estimation
      $1,680,000
      19,807 SF

      81 Wisteria Pl

      SHOPPING CENTER, STRIP CENTER • 19,807 SF
      81 Wisteria Pl, Millbrook, AL 36054-1819
      View Details
    • Value Estimation
      $1,225,000
      13,500 SF

      Hwy 14

      SHOPPING CENTER, STRIP CENTER • 13,500 SF
      Hwy 14, Millbrook, AL 36054
      View Details
    • Value Estimation
      $3,305,000
      33,028 SF

      3543 Hwy 14

      SHOPPING CENTER, STRIP CENTER • 33,028 SF
      3543 Hwy 14, Millbrook, AL 36054-1834
      View Details
    • Value Estimation
      $2,445,000
      23,224 SF

      193 Ashton Plz St

      SHOPPING CENTER, STRIP CENTER • 23,224 SF
      193 Ashton Plz St, Millbrook, AL 36054-1880
      View Details
    • Value Estimation
      $1,465,000
      13,950 SF

      1750 Hwy 14

      SHOPPING CENTER, STRIP CENTER • 13,950 SF
      1750 Hwy 14, Millbrook, AL 36054-2146
      View Details
    • Value Estimation
      $1,940,000
      18,878 SF

      4860 Main St

      SHOPPING CENTER, STRIP CENTER • 18,878 SF
      4860 Main St, Millbrook, AL 36054-2408
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      78,625 SF

      Retail Pad Site For Sale

      Retail pad site with high visibility and access.
      3791-3991 Highway 14, Millbrook, AL 36054
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    • $499,000
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      Millbrook Commercial Property with Income

      8.28 acre commercial property with office, berry farm.
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    • $1,295,910
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      Commercial Land Near 17 Springs

      1.75 acre commercial lot near upcoming 17 Springs project.
      2600 Highway 14, Millbrook, AL 36054
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    • $3,980,264
      17.69 Acres

      Highway Frontage Investment Property

      17.69 acres with highway frontage in a fast-growing corridor.
      2400 Highway 14, Millbrook, AL 36054
      View Details
    • $162,000
      4.57 Acres

      Secluded Land in Millbrook, Alabama

      4.57 acres of secluded land, ideal for building a home.
      173 Brittany Dr S, Millbrook, AL 36054
      View Details
    • Contact for pricing

      7.2 Acre Corner Lot

      Corner lot suitable for retail, office, or medical development.
      Main St @ Coosada Rd, Millbrook, AL 36054
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Millbrook Multi-Tenant Commercial Building

      Versatile commercial space in high-demand Millbrook location.
      2314 Wall St, Millbrook, AL 36054
      View Details
    • Contact for pricing

      Retail Space in Millbrook, AL

      Retail space available in a growing Millbrook location.
      Alabama 14 & Kelley Blvd, Millbrook, AL 36054
      View Details
    • Contact for pricing

      Retail Space For Rent

      Retail space available for lease at $12.50 PSF Net.
      190 Ashton Park Dr, Millbrook, AL 36054
      View Details
    • Contact for pricing

      Office Space Available for Rent

      Office space for rent at Alabama 14 & Kelley Blvd.
      Alabama 14 & Kelley Blvd, Millbrook, AL 36054
      View Details
    • $3,980,250
      770,576 SF

      Highway 14 Commercial Investment Property

      Investment property with highway frontage in growing Millbrook corridor.
      2400 Highway 14, Millbrook, AL 36054
      View Details
    • Contact for pricing
      2,400 SF

      Millbrook Commercial Property on Main

      Versatile commercial property with excellent visibility and flexible layout.
      2221 Main St, Millbrook, AL 36054
      View Details
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    Millbrook, AL 36054-2200
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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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