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

    2313 Cobbs Frd Rd Prattville, AL 36066-7705

    • Drive through restaurants
    • 3,995 SF
    OFF-MARKET
    Last Sale
    Nov 13, 2023
    $1,600,000
    Value Estimations
    $1,585,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0119911
    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

    • Drive through restaurants

    Property Details for 2313 Cobbs Frd Rd

    Year built
    2000
    Construction
    WOOD
    Property size
    3,995 SF
    Property type
    Drive through restaurants
    APN
    26-03-07-0-001-020.004
    APU
    2603070001020004

    Description

    This 3,995 square foot former Steak 'n Shake restaurant presents a unique turnkey opportunity in Prattville, Alabama. Situated on a 1.21-acre lot, the property boasts a drive-thru, ample parking (70 spaces), and excellent visibility. Built in 2000, the building features a new roof membrane (installed in 2015) and a new HVAC system (installed in 2016). Its prime location on Cobbs Ford Road (32,788 cars per day) offers easy access to I-65 (70,862 cars per day), ensuring high traffic volume. The property benefits significantly from its proximity to the entrance of the prestigious Robert Trent Jones Capitol Hill Golf Course, which hosts 80,000 rounds of golf annually, and also serves as an LPGA venue attracting 40,000 spectators. This strategic location provides exceptional exposure and potential for a thriving business. The property is located in Elmore County and is offered as a single-tenant retail space. All existing equipment is included, making this a truly move-in ready establishment. This is an exceptional opportunity for a restaurant operator seeking a well-maintained, high-traffic location with significant existing infrastructure.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,775,000
      ML approach
      $1,560,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Prattville
    County
    Elmore
    State
    Alabama
    Longitude
    -86.4
    Latitude
    32.4607
    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
    $8,292
    $601,130
    $694,480
    $1,295,610
    -
    $601,130
    $694,480
    $1,295,610

    Comparable in this City

    • Value Estimation by Request
      4,367 SF

      1967 Cobbs Frd Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,367 SF
      1967 Cobbs Frd Rd, Prattville, AL 36066-7290
      View Details
    • Value Estimation by Request
      3,434 SF

      1750 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,434 SF
      1750 Main St, Prattville, AL 36066-5582
      View Details
    • Value Estimation
      $1,140,000
      3,055 SF

      2557 Cobbs Frd Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,055 SF
      2557 Cobbs Frd Rd, Prattville, AL 36066-7709
      View Details
    • Value Estimation by Request
      3,882 SF

      2525 Cobbs Frd Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,882 SF
      2525 Cobbs Frd Rd, Prattville, AL 36066-7709
      View Details
    • Value Estimation by Request
      2,467 SF

      1914 Cobbs Frd Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,467 SF
      1914 Cobbs Frd Rd, Prattville, AL 36066-7712
      View Details
    • Value Estimation by Request
      2,725 SF

      Pratt E Shop Ctr

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,725 SF
      Pratt E Shop Ctr, Prattville, AL 36066
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,830 SF

      Freestanding Restaurant in Retail Corridor

      Prime restaurant property for reuse or redevelopment in Prattville, AL.
      2301 Cobbs Ford Rd, Prattville, AL 36066
      View Details
    • $1,200,000
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      Prattville Commercial Land - 20 Acres

      Prime Commercial Land, High Traffic Area
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      View Details
    • $400,000
      0.86 Acres

      Prattville Commercial Land - $400K

      0.86-acre commercial lot, prime location.
      0 Cobbs Ford Rd, Prattville, AL 36066
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    • $742,262
      2.84 Acres

      Prattville Commercial Land - Lot 3

      High-visibility commercial lot, ideal for retail.
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      Prattville Commercial Land - Institutional Zoning

      Two lots, excellent visibility, immediate possession.
      1001 Mcqueen Smith Rd, Prattville, AL 36066
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    • $1,500,000
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      Prattville Office Building For Sale

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    Similar Nearby for Lease

    • Contact for pricing
      3,577 SF

      Prattville QSR Space Available

      High-traffic QSR space near I-65.
      2525 Cobbs Ford Rd, Prattville, AL 36066
      View Details
    • Contact for pricing

      Retail Space in Open-Air Center

      Retail and restaurant spaces available in a busy shopping center.
      2431 Cobbs Ford Rd, Prattville, AL 36066
      View Details
    • Contact for pricing
      481,000 SF

      High Point Town Center: Prattville Retail

      Prime Prattville retail space, multiple units available.
      2431 Cobbs Ford Rd, Prattville, AL 36066
      View Details
    • Contact for pricing
      430,000 SF

      Prattville Town Center Retail Space

      High-traffic retail space in prime Prattville location.
      0 Cobbs Ford Rd, Prattville, AL 36066
      View Details
    • $11 SF/Yr
      325,000 SF

      Premiere Place Shopping Center

      Prattville, AL retail space available
      1947 Cobbs Ford Rd, Prattville, AL 36066
      View Details
    • $13 SF/Yr
      2,900 SF

      Highway 14 Commercial Space

      Prime Retail/Office Units, High Traffic Location
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      View Details
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    Prattville, AL 36066-7705
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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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