Add Listing
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

    223 Fleming Rd Montgomery, AL 36105-3120

    • Theaters & concert halls
    • 10,682 SF
    • 0.85 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0517153
    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

    • Theaters & concert halls

    Property Details for 223 Fleming Rd

    Year built
    1960
    Construction
    WOOD
    Lot size
    0.85 lot acres
    Property size
    10,682 SF
    Zone code
    R-75-S
    Property type
    Theaters & concert halls
    APN
    11-07-36-4-001-025.001
    APU
    1107364001025001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Montgomery
    State
    Alabama
    Longitude
    -86.3115
    Latitude
    32.3218
    CBSA code
    33860
    CBSA name
    MONTGOMERY, 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
    $0.00
    $1,800
    $79,300
    $81,100
    -
    $9,000
    $396,500
    $405,500

    Comparable in this City

    • Value Estimation by Request
      9,275 SF

      5001 Norman Brg Rd

      THEATER (MOVIE) • 9,275 SF
      5001 Norman Brg Rd, Montgomery, AL 36105-3837
      View Details
    • Value Estimation
      $785,000
      34,846 SF

      150 Fleming Rd

      THEATER (MOVIE) • 34,846 SF
      150 Fleming Rd, Montgomery, AL 36105-3208
      View Details
    • Value Estimation by Request
      11,194 SF

      4214 Rosa L Park Ave

      THEATER (MOVIE) • 11,194 SF
      4214 Rosa L Park Ave, Montgomery, AL 36105-2725
      View Details
    • Value Estimation
      $1,675,000
      46,760 SF

      3703 Rosa L Park Ave

      THEATER (MOVIE) • 46,760 SF
      3703 Rosa L Park Ave, Montgomery, AL 36105-2442
      View Details
    • Value Estimation
      $805,000
      22,315 SF

      3388 Hull St

      THEATER (MOVIE) • 22,315 SF
      3388 Hull St, Montgomery, AL 36105-1817
      View Details
    • Value Estimation by Request
      2,916 SF

      955 National St

      THEATER (MOVIE) • 2,916 SF
      955 National St, Montgomery, AL 36105-2422
      View Details

    Similar Nearby for Sale

    • $475,000
      33.70 Acres

      Prime Montgomery Commercial Land

      33.7 Acres, $475,000 - Ideal Development
      0 South Blvd, Montgomery, AL 36105
      View Details
    • $136,900
      11.99 Acres

      Land in Snowdown, Alabama

      11.99 acre lot in Snowdown community, Montgomery, Alabama.
      1979 Grant Rd, Montgomery, AL 36105
      View Details
    • Contact for pricing
      Pending

      Medical Office Building For Sale

      Multi-suite medical building near I-65 with leaseback option.
      3091 Gaston Ave, Montgomery, AL 36105
      View Details
    • Contact for pricing
      10,000 SF

      10,000 SF Building Near University

      10,000 SF building across from Alabama State University.
      1514 S Decatur St, Montgomery, AL 36105
      View Details
    • Contact for pricing
      19,000 SF

      Former Church Campus For Sale

      16,534 SF Vacant Campus, Two Buildings
      4544 S Court St, Montgomery, AL 36105
      View Details
    • Contact for pricing

      288 Acres on US Highway

      Alabama farmland, ideal for large-scale operations.
      10927 Us Highway 31, Hope Hull, AL 36105
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      38,000 SF

      Montgomery Industrial Property - 38,000 SF

      Large industrial space, ideal for manufacturing or distribution.
      720 South Blvd, Montgomery, AL 36105
      View Details
    • Contact for pricing

      Retail Space with Ample Parking

      10,500 SF retail space with easy access and visibility.
      13 W Fairview Ave, Montgomery, AL 36105
      View Details
    • Contact for pricing

      32.5 AC Truck Parking Land

      Prime Industrial Land near Hyundai
      Us Highway 331, Montgomery, AL 36105
      View Details
    • Contact for pricing

      Industrial Land for Lease

      Prime location, flexible warehouse space.
      Coca-Cola Rd, Montgomery, AL 36105
      View Details
    • Contact for pricing

      Corner Retail or Medical Space

      Prominent corner location suitable for retail or medical use.
      10 W Fairview Ave, Montgomery, AL 36105
      View Details
    • Contact for pricing

      Freestanding Retail Building in Montgomery

      7,545 SF retail building, built in 2018, zoned B-2.
      304 W Fairview Ave, Montgomery, AL 36105
      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.
    223 Fleming Rd
    Montgomery, AL 36105-3120
    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.
    Sign Up Successful!
    You now have access to more from Realmo!