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    Property profile & analytics

    2304 Main St Daphne, AL 36526

    • Office buildings
    • 3,557 SF
    • 1.94 lot acres
    For Sale
    View listing
    $2,200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1820805
    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

    • Southern Napa Fine Wine House / Specialty Food Shop / Wine and Liquor Store

    Property Details for 2304 Main St

    Year built
    1940
    Lot size
    1.94 lot acres
    Property size
    3,557 SF
    Property type
    Office buildings
    APN
    43-04-17-2-004-006
    APU
    4304172004006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $405,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $740,000
      6.5%
      $680,000
      7%
      $630,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $506,000
      Market price range: $185k - $506k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $645,000
      Current use
      MEDICAL BUILDING
      $695,000
      Change: +8% Conversion: Easy
      RETAIL STORES
      $595,000
      Change: -8% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $585,000
      Change: -9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Daphne
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.9021
    Latitude
    30.6117
    CBSA code
    19300
    CBSA name
    DAPHNE-FAIRHOPE, AL MICROPOLITAN 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
    $12,103
    $169,240
    $93,860
    $263,100
    -
    $846,200
    $469,300
    $1,315,500

    Comparable in this City

    • Value Estimation by Request
      0.47 Acres

      101 Villa Dr

      OFFICE BUILDING • 0.47 Acres
      101 Villa Dr, Daphne, AL 36526-4653
      View Details
    • Value Estimation by Request
      882 SF

      1702 Main St

      OFFICE BUILDING • 882 SF
      1702 Main St, Daphne, AL 36526
      View Details
    • Value Estimation
      $1,215,000
      6,331 SF

      26051 Predazzer Ln

      OFFICE BUILDING • 6,331 SF
      26051 Predazzer Ln, Daphne, AL 36526-0827
      View Details
    • Value Estimation
      $1,090,000
      9,053 SF

      28810 Us Hwy 98

      OFFICE BUILDING • 9,053 SF
      28810 Us Hwy 98, Daphne, AL 36526-7256
      View Details
    • Value Estimation by Request
      3,000 SF

      25303 Profit Dr

      OFFICE BUILDING • 3,000 SF
      25303 Profit Dr, Daphne, AL 36526-4293
      View Details
    • Value Estimation by Request
      2,762 SF

      809 Daphne Ave

      OFFICE BUILDING • 2,762 SF
      809 Daphne Ave, Daphne, AL 36526-4297
      View Details

    Similar Nearby for Sale

    • $2,200,000
      22,039 SF

      Daphne Office Building - 19,945 SF

      Turn-key office building, ideal for Eastern Shore business.
      25366 Profit Dr, Daphne, AL 36526
      View Details
    • $569,000
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      Daphne Office & Warehouse Investment

      Prime Hwy 98 location, high visibility.
      28216 US-98, Daphne, AL 36526
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    • $895,000
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      Daphne Office Building - Hwy 98 Frontage

      High-traffic location, renovated office space.
      1001 randall avenue, Daphne, AL 36526
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    • $569,000
      2,127 SF

      Daphne Office & Warehouse Investment Opportunity

      High-visibility Hwy 98 location, excellent income potential.
      28216 US-98, Daphne, AL 36526
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    • $2,200,000
      19,945 SF

      Daphne Office Building: Prime Location

      19,945 SF Office, $2.2M, Excellent Condition
      25366 Profit Dr, Daphne, AL 36526
      View Details
    • $1,900,000
      1.20 Acres

      Daphne Medical Office Building

      Prime Medical Office, Excellent Location
      6631 Park Dr, Daphne, AL 36526
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    Similar Nearby for Lease

    • $2,100 /Mo
      630 SF

      Charming Daphne Office Space For Lease

      Downtown Daphne office, fully furnished, great location.
      1695 Guarisco St, Daphne, AL 36526
      View Details
    • $18 SF/Yr
      4,304 SF

      Daphne Office Space - Hwy 98

      4,304 SF Office Suite Available; NNN Lease
      6451 Merritt Blvd, Daphne, AL 36526
      View Details
    • $1,600 /Mo
      1,156 SF

      Daphne Office Space Available

      Prime Daphne medical office, 1156 sq ft.
      101 Villa Dr, Daphne, AL 36526
      View Details
    • $3,000 /Mo
      1,800 SF

      Daphne Office Space - High Visibility

      1800 sq ft office, prime Daphne location, high traffic.
      26050 Predazzer Lane, Daphne, AL 36526
      View Details
    • Contact for pricing
      4,304 SF

      Office Building with Available Spaces

      Office building with spaces for lease, convenient location, ample parking.
      6451 Merritt Blvd, Daphne, AL 36526
      View Details
    • $21 SF/Yr
      8,600 SF

      Daphne Retail Space For Lease

      Prime Daphne location, 1800 sq ft available.
      2020 Us Highway 98, Daphne, AL 36526
      View Details
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    2304 Main St
    Daphne, AL 36526
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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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