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    2298 University Dr Auburn, AL 36830-3538
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    Property profile & analytics

    2298 University Dr, Auburn, AL 36830-3538

    View on Map
    • Investment properties
    • 23,838 SF
    • 2.41 lot acres
    Off-Market
    Property ID
    US03-1695195
    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
    $825,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Alexander Shunnarah Trial Attorneys: Accident & Injury Lawyers / Law Firm
    • LA SkinLab / Medical Clinic / Skin Care Clinic
    • Vintage 2298 / Restaurant
    • Artifactory Auburn / Furniture & Home Goods / Home Decor Store
    • The Oaks Family Healthcare / Kimberly F Owens, MD / Pediatrician / Physician

    Property Details for 2298 University Dr

    Year built
    2022
    Construction
    WOOD
    Lot size
    2.41 lot acres
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    09-04-17-0-000-004-001
    APU
    904170000004001

    Description

    This exceptional mixed-use property, The Vintage 2298, presents a compelling investment opportunity in Auburn, Alabama. Completed in 2022, this two-building complex boasts a total of 25,189 square feet situated on a 2.4-acre lot within an Opportunity Zone. The property enjoys a prime location in a high-growth corridor, conveniently near Auburn Medical Park and a vibrant retail area. Adjacent businesses include prominent national brands such as Walmart Neighborhood Market, Panera Bread, Starbucks, Auburn Mall, and Crunch Fitness, ensuring high visibility and foot traffic. Building A comprises approximately 4,688 square feet across two floors, while Building B offers approximately 20,501 square feet spread across three floors. Currently 100% occupied, this property offers immediate cash flow and significant long-term potential within a thriving community. The property's strategic location, modern construction, and strong tenant base make it an attractive investment for discerning buyers seeking a stable and appreciating asset in a dynamic market. Detailed financial information is available upon request. The property is located at 2298 E University Dr, Auburn, AL 36830.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $715,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $929,000
      Market price range: $929k - $3.13M

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    Lee
    State
    Alabama
    Longitude
    -85.4571
    Latitude
    32.6294
    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
    $25,024
    $141,760
    $321,640
    $463,400
    -
    $708,800
    $1,608,200
    $2,317,000

    Comparable in this City

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      236 Tichenor Ave, Unit 5A

      STORE/OFFICE (MIXED USE)
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      236 Tichenor Ave, Unit 8A

      STORE/OFFICE (MIXED USE)
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    • Value Estimation by Request
      800 SF

      Airport Rd

      STORE/OFFICE (MIXED USE)
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    • Value Estimation by Request
      4,362 SF

      941 Opelika Rd

      STORE/OFFICE (MIXED USE)
      941 Opelika Rd, Auburn, AL 36830-4023
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    • Value Estimation
      $710,000
      5,832 SF

      1888 Ogletree Rd, Unit C

      STORE/OFFICE (MIXED USE)
      1888 Ogletree Rd, Auburn, AL 36830-7716
      View Details

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      4,876 SF

      Prime Retail/Flex Space Opportunity

      Highly visible retail/flex space in a rapidly growing market.
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      Auburn Commercial Corner Lot

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      3,185 SF

      Opelika Road Commercial Land Available

      1.14 acre commercial land with 3,185 SF building.
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      1,482 SF

      Auburn Land For Sale

      Land zoned for short term rentals and multi-family occupancy.
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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
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      Retail Space in Auburn, Alabama

      Available retail anchor space in a dominant market.
      1716 Opelika Rd, Auburn, AL 36830
      View Details
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      Retail, Office, and Restaurant Space

      Mixed-use center with retail, office, and restaurant spaces for rent.
      834 Opelika Rd, Auburn, AL 36830
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      Retail Space in Auburn

      Retail space in a booming student housing complex.
      191 N College St, Auburn, AL 36830
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    • Contact for pricing

      Prime Corner Acreage for Lease

      Signalized corner location near Auburn University available for ground lease.
      1498 Opelika Rd, Auburn, AL 36830
      View Details
    • Contact for pricing
      13,253 SF

      Former CVS Available For Lease

      Former CVS available for lease with 13,253 SF.
      1498 Opelika Rd, Auburn, AL 36830
      View Details
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    Auburn, AL 36830-3538
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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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