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    1505 Selma Ave Selma, AL 36703

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    1505 Selma Ave Selma, AL 36703

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    • Retail space
    • 911 SF
    • 0.15 lot acres
    For Sale
    $30,000
    View Listing →
    Selma Avenue Commercial Corner Lot For Sale
    $30,000

    Selma Avenue Commercial Corner Lot

    Prime Selma location, retail/residential potential.

    1505 Selma Ave, Selma, AL 36703
    View Listing
    Property ID
    US03-1326130
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 1505 Selma Ave

    Year built
    1947
    Construction
    FRAME
    Lot size
    0.15 lot acres
    Property size
    911 SF
    Zone code
    S
    Property type
    Retail space
    APN
    11073610010400000
    APU
    11073610010400000

    Description

    This exceptional commercial property, located at 1505 Selma Avenue in Selma, Alabama, presents a unique investment opportunity. Situated on a corner lot, this property offers significant versatility, suitable for either retail or residential development. The building requires some tender loving care (TLC), presenting a chance for a buyer to add value through renovations and improvements. The asking price is $30,000, making it an attractive entry point into the Selma commercial real estate market. The property's zoning allows for a range of uses, providing flexibility for potential buyers. While the square footage is not currently specified, the corner lot location offers excellent visibility and accessibility, crucial for any commercial venture. The property's potential is significant, and its affordability makes it an ideal choice for investors seeking a project with substantial upside. Serious inquiries are encouraged to explore the possibilities and unlock the full potential of this promising Selma location. The property is being sold as-is. Further details regarding the property's specifics are available upon request. Don't miss this chance to acquire a valuable piece of Selma real estate.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Selma
    County
    Dallas
    State
    Alabama
    Longitude
    -87.0165
    Latitude
    32.4111
    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
    $501
    $0.00
    $0.00
    $8,720
    -
    $9,300
    $34,300
    $43,600

    Comparable in this City

    • Value Estimation by Request
      1,752 SF

      118 Maxey St

      RETAIL STORES (PERSONAL SERVICES) • 1,752 SF
      118 Maxey St, Selma, AL 36703-2423
      View Details
    • Value Estimation by Request
      774 SF

      1317 Voeglin Ave

      RETAIL STORES (PERSONAL SERVICES) • 774 SF
      1317 Voeglin Ave, Selma, AL 36703-3739
      View Details
    • Value Estimation by Request
      3,224 SF

      1418 Water Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,224 SF
      1418 Water Ave, Selma, AL 36703
      View Details
    • Value Estimation by Request
      7,558 SF

      1221 8th Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,558 SF
      1221 8th Ave, Selma, AL 36703-4018
      View Details
    • Value Estimation by Request
      6,643 SF

      1209 Highland Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,643 SF
      1209 Highland Ave, Selma, AL 36703-4134
      View Details
    • Value Estimation by Request
      2,100 SF

      1401 Jeff Davis Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,100 SF
      1401 Jeff Davis Ave, Selma, AL 36703-3833
      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
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      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
    View Listing
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    Selma, AL 36703
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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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