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

    2047 University Dr Auburn, AL 36830-3336

    • Grocery and convenience stores
    • 40,246 SF
    • 5.27 lot acres
    OFF-MARKET
    Value Estimations
    $1,060,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1488831
    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

    • Walmart Home Theater Installation / Home Cinema Installation
    • Walmart Pet Services / Pet Sitter
    • Walmart House Cleaning Services / House Cleaning Service
    • Coinstar / Money Transfer Service
    • Western Union / Money Transfer Service

    Property Details for 2047 University Dr

    Year built
    2015
    Construction
    CONCRETE BLOCKS
    Lot size
    5.27 lot acres
    Property size
    40,246 SF
    Property type
    Grocery and convenience stores
    APN
    09-05-21-2-000-004-000
    APU
    905212000004000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $995,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,127,000
      Market price range: $435k - $1.13M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $625,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,160,000
      Change: +85% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    Lee
    State
    Alabama
    Longitude
    -85.4498
    Latitude
    32.6243
    CBSA code
    12220
    CBSA name
    AUBURN-OPELIKA, 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
    $69,791
    $2,145,240
    $1,292,412
    $3,437,652
    -
    $10,726,200
    $6,462,060
    $17,188,260

    Comparable in this City

    • Value Estimation
      $290,000
      3,272 SF

      3991 Cox Rd

      CONVENIENCE STORE • 3,272 SF
      3991 Cox Rd, Auburn, AL 36830-7023
      View Details
    • Value Estimation
      $440,000
      4,444 SF

      186 Gay St

      CONVENIENCE STORE • 4,444 SF
      186 Gay St, Auburn, AL 36830-4814
      View Details
    • Value Estimation
      $405,000
      4,717 SF

      2393 University Dr

      CONVENIENCE STORE • 4,717 SF
      2393 University Dr, Auburn, AL 36830-3301
      View Details
    • Value Estimation
      $350,000
      3,630 SF

      2154 University Dr

      CONVENIENCE STORE • 3,630 SF
      2154 University Dr, Auburn, AL 36830-2894
      View Details
    • Value Estimation
      $625,000
      53,392 SF

      2415 Moores Ml Rd

      GROCERY, SUPERMARKET • 53,392 SF
      2415 Moores Ml Rd, Auburn, AL 36830-8428
      View Details
    • Value Estimation
      $290,000
      2,560 SF

      4015 College St

      CONVENIENCE STORE • 2,560 SF
      4015 College St, Auburn, AL 36830-5833
      View Details

    Similar Nearby for Sale

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      2,640 SF

      Commercial Property in Growing Auburn

      High-visibility commercial property in a rapidly growing Auburn area.
      1319 Opelika Rd, Auburn, AL 36830
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    • $2,200,000

      Freestanding Building on University Drive

      One-story building with frontage on University Blvd in Auburn, AL.
      2085 E University Dr, Auburn, AL 36830
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      Opelika Road Retail/Restaurant Opportunity

      Restaurant/Retail property with high visibility near Auburn University.
      1463 Opelika Rd, Auburn, AL 36830
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    • $750,000
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      Auburn Commercial Land Opportunity

      1.55 Acres, Prime Location, $750,000
      2548 Hilton Garden Dr, Auburn, AL 36830
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    • $695,000
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      Auburn Industrial Property - High Traffic!

      High-traffic location, large building, investment opportunity.
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    • $160,000
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      Residential Lot in South Auburn

      Large 0.8-acre lot for custom home in Auburn, AL.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Auburn University

      Retail space available in mixed-use development near Auburn University.
      206 N Gay St, Auburn, AL 36830
      View Details
    • Contact for pricing

      Retail Space in Auburn, Alabama

      Available retail anchor space in a dominant market.
      1716 Opelika Rd, Auburn, AL 36830
      View Details
    • Contact for pricing
      63,100 SF

      Shops at Cary Creek: Auburn Retail

      Auburn retail center, high traffic, 2 spaces available.
      2900 University Dr, Auburn, AL 36830
      View Details
    • $30 SF/Yr
      11,366 SF

      Auburn Retail Center - Samford Trace

      Prime Retail Space Available in Auburn, AL
      0 Samford Trce Ct, Auburn, AL 36830
      View Details
    • Contact for pricing
      2,463 SF

      Downtown Auburn Retail Gem

      High-traffic, 2,463 SF retail space.
      191 College St, Auburn, AL 36830
      View Details
    • Contact for pricing
      90,000 SF

      Auburn Bank Center: Class A Office

      Modern Auburn office space, flexible suites.
      100 Gay St, Auburn, AL 36830
      View Details

    Property Visit Statistics

    • Visits by month
      73.9k
    • Visitors by month
      39.4k
    • Avg Time on site
      19 min
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    2047 University Dr
    Auburn, AL 36830-3336
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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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