Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1823 Somerville SE Rd Decatur, AL 35601-5015

    Property Lookup

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

    1823 Somerville SE Rd Decatur, AL 35601-5015

    View on Map
    • Medical Office Space
    • 1,996 SF
    • 1.08 lot acres
    Off-Market
    Last Sale Mar 14, 2022
    $155,000
    Property ID
    US03-1257568
    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

    • ANTONIO E. GALES, DDS / Dental Office
    • Hawkins Greg DMD / Dental Office
    • Irby Mia DDS / Dental Office
    • Dr. Jonathan E. Pope, DMD / Dental Office
    • Natalie Roth / Dental Office

    Property Details for 1823 Somerville SE Rd

    Year built
    1954
    Lot size
    1.08 lot acres
    Property size
    1,996 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    03-09-29-4-003-024.000
    APU
    309294003024000

    Description

    This exceptional investment opportunity presents a fully occupied, two-building office complex in Decatur, Alabama. The property, located at 1823 Somerville Rd SE, 35601, encompasses 2,865 square feet on a one-acre lot with B1 zoning. The main building, a single-story Class B structure, features a reception area, multiple waiting rooms, individual offices, and dedicated patient areas. Three restrooms and six additional sinks are strategically located throughout. Abundant storage is provided via shelving and counter space. A separate heated and cooled storage building of approximately 540 square feet offers additional space with a drop ceiling, shelving, and a sink. The property boasts ample parking with approximately 15 spaces and approximately 142 feet of frontage on Somerville Road. Currently operating at 100% occupancy with a mix of executive, medical, and traditional office tenants, this NNN-leased property offers a strong return on investment. The asking price is $250,000, translating to $87.26 per square foot. This turnkey investment is ideal for a passive income portfolio or an owner-user seeking a high-traffic location. The property is situated in a high-traffic area, making it an attractive option for various medical and professional practices. The two buildings are currently under single tenancy.

    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
    Decatur
    County
    Morgan
    State
    Alabama
    Longitude
    -86.9726
    Latitude
    34.5769
    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
    $2,328
    $9,840
    $41,540
    $51,380
    -
    $49,200
    $207,700
    $256,900

    Comparable in this City

    • Value Estimation by Request
      3,645 SF

      1213 13th SE Ave

      MEDICAL BUILDING • 3,645 SF
      1213 13th SE Ave, Decatur, AL 35601-4311
      View Details
    • Value Estimation by Request
      1,616 SF

      1906 Flint SE Rd

      MEDICAL BUILDING • 1,616 SF
      1906 Flint SE Rd, Decatur, AL 35601-6025
      View Details
    • Value Estimation by Request
      1,667 SF

      1906 Flint SE Rd

      MEDICAL BUILDING • 1,667 SF
      1906 Flint SE Rd, Decatur, AL 35601-6025
      View Details
    • Value Estimation by Request
      6,769 SF

      1121 Somerville SE Rd

      MEDICAL BUILDING • 6,769 SF
      1121 Somerville SE Rd, Decatur, AL 35601-3256
      View Details
    • Value Estimation
      $535,000
      3,590 SF

      1313 13th SE Ave

      MEDICAL BUILDING • 3,590 SF
      1313 13th SE Ave, Decatur, AL 35601-4308
      View Details
    • Value Estimation by Request
      2,617 SF

      1304 14th SE Ave

      MEDICAL BUILDING • 2,617 SF
      1304 14th SE Ave, Decatur, AL 35601-4315
      View Details

    Similar Nearby for Sale

    • $340,000

      Decatur Office Building For Sale

      Office building with flexible spaces, suitable for various businesses.
      1803 Somerville Rd SE, Decatur, AL 35601
      View Details
    • New
      $340,000
      2,400 SF

      Decatur Office with Upgrades

      Office building with new roof and upgraded electrical system.
      1803 Somerville Rd SE, Decatur, AL 35601
      View Details
    • $3,800,000

      Decatur Assisted Living Facility Opportunity

      Assisted living facility in senior-heavy market with regional draw.
      2115 Point Mallard Dr SE, Decatur, AL 35601
      View Details
    • Contact for pricing

      Industrial Facility with Office Space

      39,060 SF industrial facility with office and manufacturing space.
      1314 State Docks Rd NW, Decatur, AL 35601
      View Details
    • Contact for pricing
      2,633 SF

      Retail Building with Drive-Thru

      Versatile retail building with drive-thru, ample parking, high visibility.
      1214 Moulton St, Decatur, AL 35601
      View Details
    • Contact for pricing
      4,866 SF

      Profitable Business and Real Estate

      Profitable business with real estate for sale in Decatur.
      2015 Westmead St SW, Decatur, AL 35601
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail/Office Building with Vacant Lot

      Retail or office building with vacant lot for lease.
      1701 Central Pkwy SW, Decatur, AL 35601
      View Details
    • Contact for pricing

      Decatur Office/Warehouse with Dock Doors

      Versatile Decatur office/warehouse with dock doors and highway access.
      1010 8Th Ave NE, Decatur, AL 35601
      View Details
    • Contact for pricing

      Decatur Flex Space For Rent

      5,000 SF flex space near Mallard Fox Creek Industrial Park.
      3401 Highway 20, Decatur, AL 35601
      View Details
    • Contact for pricing

      Decatur Commercial Space For Rent

      Commercial space available near Decatur Morgan Hospital with ample parking.
      1117 16Th Ave SE, Decatur, AL 35601
      View Details
    • $6 SF/Yr

      Decatur Industrial Facility with Fenced Yard

      Industrial facility in Decatur with convenient access and flexible options.
      620 Wilson St NE, Decatur, AL 35601
      View Details
    • $4,500 /Mo
      3,980 SF

      Decatur Commercial Space For Rent

      Multi-purpose building in high-traffic area, remodel available.
      1401 6Th Ave SE, 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.
    1823 Somerville SE Rd
    Decatur, AL 35601-5015
    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

    Thank You for Inquiry

    1823 Somerville SE Rd, Decatur, AL, 35601

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!