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

    1516 SE 6Th Ave Decatur, AL 35601

    • Retail space
    • 93,712 SF
    • 11.04 lot acres
    For Lease
    View listing
    $2,070 /Mo
    Last Sale
    Jul 27, 2021
    $2,400,000
    Value Estimations
    $2,495,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1758175
    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

    • Southern Style Furniture / Furniture Store

    Property Details for 1516 SE 6Th Ave

    Year built
    1961
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    11.04 lot acres
    Property size
    93,712 SF
    Property type
    Retail space
    APN
    03-09-29-2-023-009.000
    APU
    309292023009000

    Description

    The Decatur Shopping Center offers a fantastic opportunity for retail businesses seeking space in a thriving commercial area. This single-story center totals 81,191 square feet and features five individual suites, providing flexibility for various tenant needs. Currently, there are 26,032 square feet of vacant space available, with suite sizes ranging from a minimum of 1,222 square feet to a maximum of 16,800 square feet. The property boasts a freshly painted awning, enhancing its curb appeal and visibility. The asking rent is $7.00 per square foot per month. This prime retail location offers high visibility and accessibility, making it an ideal space for businesses seeking to establish or expand their presence. The multiple suite configuration allows for a variety of tenant combinations, catering to businesses of different sizes and requirements. The minimum divisible space of 1,222 square feet provides an excellent entry point for smaller businesses, while larger spaces are available for those requiring more extensive footprints. This is a unique opportunity to secure retail space in a desirable and well-maintained shopping center. Contact us today to learn more about leasing options and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,480,000
      ML approach
      $2,550,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,647,000
      Market price range: $2.40M - $8.26M

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

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    Morgan
    State
    Alabama
    Longitude
    -86.9789
    Latitude
    34.5833
    CBSA code
    19460
    CBSA name
    DECATUR, 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
    $15,402
    $270,380
    $350,100
    $620,480
    -
    $1,351,900
    $1,750,500
    $3,102,400

    Comparable in this City

    • Value Estimation by Request
      5,550 SF

      711 Bank NE St

      RETAIL STORES (PERSONAL SERVICES) • 5,550 SF
      711 Bank NE St, Decatur, AL 35601-1609
      View Details
    • Value Estimation by Request
      2,978 SF

      902 6th SE Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,978 SF
      902 6th SE Ave, Decatur, AL 35601-3920
      View Details
    • Value Estimation by Request
      1,482 SF

      425 Vine NW St

      RETAIL STORES (PERSONAL SERVICES) • 1,482 SF
      425 Vine NW St, Decatur, AL 35601-1357
      View Details
    • Value Estimation by Request
      3,388 SF

      511 19th SE Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,388 SF
      511 19th SE Ave, Decatur, AL 35601-3423
      View Details
    • Value Estimation by Request
      3,400 SF

      701 2nd SE Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,400 SF
      701 2nd SE Ave, Decatur, AL 35601-2500
      View Details
    • Value Estimation by Request
      10,000 SF

      224 2nd SE Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,000 SF
      224 2nd SE Ave, Decatur, AL 35601-2344
      View Details

    Similar Nearby for Sale

    • $269,000
      3,236 SF

      Decatur Retail Building - $269K

      Prime Decatur retail space, high visibility.
      1112 6Th Ave, Decatur, AL 35601
      View Details
    • $349,000
      1,800 SF

      Decatur Convenience Store Investment

      High-return retail property, Alabama.
      1101 Moulton St, Decatur, AL 35601
      View Details
    • $375,900

      Decatur Office/Retail Space For Sale

      2500 sqft office/retail space in Decatur's entertainment district.
      603 Bank St NE, Decatur, AL 35601
      View Details
    • $4,390,848
      10.08 Acres

      Decatur Development Land - 10 Acres

      Prime Decatur acreage, ideal for multifamily or retail.
      0 Old Moulton Rd And Beltline Rd, Decatur, AL 35601
      View Details
    • Contact for pricing
      5,600 SF

      Decatur Retail Space: Prime Location

      Newly renovated, high-traffic retail space.
      1550 6Th Ave, Decatur, AL 35601
      View Details
    • Contact for pricing
      56,534 SF

      Decatur Retail Space - High Visibility

      Prime Decatur retail space, excellent location, lease available.
      1524 6Th Ave, Decatur, AL 35601
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,440 SF

      Downtown Decatur Retail Space

      Prime Retail, 4,440 SF, New Construction
      101 Moulton St, Decatur, AL 35601
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space in Power Center

      4,000 SF endcap in Decatur, Alabama shopping center.
      2407 6Th Ave SE, Decatur, AL 35601
      View Details
    • Contact for pricing
      379,000 SF

      Decatur Mall Retail Spaces Available

      High-traffic retail spaces in Decatur, AL.
      1801 Beltline Rd, Decatur, AL 35601
      View Details
    • $833 /Mo

      Decatur Retail Space For Lease

      Prime retail space in a highly visible Decatur location.
      807 SE 11Th St, Decatur, AL 35601
      View Details
    • Contact for pricing
      5,600 SF

      Retail Space on 6th Avenue

      Retail spaces available with high visibility and diverse tenant mix.
      2019 6Th Ave SE, Decatur, AL 35601
      View Details
    • $2,070 /Mo

      Decatur Retail Space For Lease

      3,105 SF retail space in Decatur, Alabama available for lease.
      1516 SE 6Th Ave, Decatur, AL 35601
      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.
    1516 SE 6Th Ave
    Decatur, AL 35601
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.