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    2005 Morgan Ave SW Decatur, AL 35601

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    2005 Morgan Ave SW Decatur, AL 35601

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    • Single family properties
    • 9,302 SF
    Off-Market
    Property ID
    US03-0799798
    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

    • Single family properties

    Property Details for 2005 Morgan Ave SW

    Property size
    9,302 SF
    Property type
    Single family properties
    Property subtype
    Apartment buildings

    Description

    Gateway Alabama Realty Group is pleased to offer this portfolio with 9 multifamily units and 1 single-family rental property in the heart of Decatur, AL. All of the properties are located within minutes of universities, shopping, and local industry. Some of these properties have updates and improvements. 90% occupancy. 1st address is 2005 Morgan Ave, Decatur, AL features a single family house with an attached two car garage, vinyl siding; on the same parcel there is a 5-unit multifamily building, featuring partial brick with covered porches and recent updates and upgrades. 2nd address is 201 8th Ave, Decatur, AL, features a four-unit apartment building with recent updates, new exterior stairs, 3 yr. roof, recent upgrades include new privacy fence and two units with recent remakes.

    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
    -87.0083201
    Latitude
    34.5745207

    Comparable in this City

    • $1,925,000

      24-Unit Multifamily Investment Opportunity

      24 units with value-add potential in Decatur, Alabama.
      217 8Th St SW, Decatur, AL 35601
      View Details
    • $400,000
      3,448 SF

      Decatur Multifamily Investment Opportunity

      Value-add multifamily property in Decatur, Alabama with potential upside.
      201 8Th Ave SW, Decatur, AL 35601
      View Details
    • $200,000
      2,059 SF

      Decatur Duplex For Sale

      Full brick duplex in Decatur, Alabama, ideal for investors.
      410 11Th Ave SW, Decatur, AL 35601
      View Details
    • $250,000
      3,624 SF

      Decatur Multifamily Portfolio Opportunity

      Fourteen-unit multifamily portfolio in Decatur, Alabama, for sale.
      202 Somerville Rd, Decatur, AL 35601
      View Details
    • Contact for pricing
      2,059 SF

      Full Brick Duplex For Sale

      Full brick duplex featuring a 1-bed and 3-bed unit.
      410 11Th Ave SW, Decatur, AL 35601
      View Details
    • $524,811
      1,114 SF

      Renovated Commercial Space in Decatur

      Prime location, renovated space suitable for business or residence.
      1117 6Th Ave, Decatur, AL 35601
      View Details

    Similar Nearby for Sale

    • $1,925,000

      24-Unit Multifamily Investment Opportunity

      24 units with value-add potential in Decatur, Alabama.
      217 8Th St SW, Decatur, AL 35601
      View Details
    • $400,000
      3,448 SF

      Decatur Multifamily Investment Opportunity

      Value-add multifamily property in Decatur, Alabama with potential upside.
      201 8Th Ave SW, Decatur, AL 35601
      View Details
    • $200,000
      2,059 SF

      Decatur Duplex For Sale

      Full brick duplex in Decatur, Alabama, ideal for investors.
      410 11Th Ave SW, Decatur, AL 35601
      View Details
    • $250,000
      3,624 SF

      Decatur Multifamily Portfolio Opportunity

      Fourteen-unit multifamily portfolio in Decatur, Alabama, for sale.
      202 Somerville Rd, Decatur, AL 35601
      View Details
    • Contact for pricing
      2,059 SF

      Full Brick Duplex For Sale

      Full brick duplex featuring a 1-bed and 3-bed unit.
      410 11Th Ave SW, Decatur, AL 35601
      View Details
    • $524,811
      1,114 SF

      Renovated Commercial Space in Decatur

      Prime location, renovated space suitable for business or residence.
      1117 6Th Ave, 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
    • $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
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 2,561 square feet.
      2136 6Th Ave SE, Decatur, AL 35601
      View Details
    • Contact for pricing

      Warehouse with Dock High Loading

      Warehouse space available for lease with dock high loading.
      2 Moulton St E, Decatur, AL 35601
      View Details
    • Contact for pricing

      Prime Retail Space Available

      Retail space in Decatur with high visibility and diverse tenants.
      2019 6Th Ave SE, Decatur, AL 35601
      View Details
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    2005 Morgan Ave SW
    Decatur, AL 35601
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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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