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

    232 Central Ave Alexander City, AL 35010-2535

    • Office buildings
    • 3,022 SF
    OFF-MARKET
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-2397760
    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

    • Shear Concepts / Beauty Salon
    • Rick Durden Agency / Insurance Agency

    Property Details for 232 Central Ave

    Year built
    1940
    Property size
    3,022 SF
    Property type
    Office buildings
    APN
    62 05 08 34 2 202 081.000
    APU
    620508342202081000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $333,000
      Market price range: $226k - $533k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $375,000
      Current use
      MEDICAL BUILDING
      $345,000
      Change: -8% Conversion: Easy
      COMMERCIAL (GENERAL)
      $330,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Alexander City
    County
    Tallapoosa
    State
    Alabama
    Longitude
    -85.9563
    Latitude
    32.9416
    CBSA code
    10760
    CBSA name
    ALEXANDER CITY, 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
    $1,835
    $9,600
    $39,320
    $48,920
    -
    $48,000
    $196,600
    $244,600

    Comparable in this City

    • Value Estimation
      $610,000
      21,833 SF

      Sales Ofc Dr

      OFFICE BUILDING • 21,833 SF
      Sales Ofc Dr, Alexander City, AL 35010
      View Details
    • Value Estimation
      $235,000
      1,134 SF

      5 Lee St

      OFFICE BUILDING • 1,134 SF
      5 Lee St, Alexander City, AL 35010-1953
      View Details
    • Value Estimation
      $280,000
      2,449 SF

      143 Main St

      OFFICE BUILDING • 2,449 SF
      143 Main St, Alexander City, AL 35010-1915
      View Details
    • Value Estimation
      $245,000
      832 SF

      6732 Hwy 63rd S

      OFFICE BUILDING • 832 SF
      6732 Hwy 63rd S, Alexander City, AL 35010-6170
      View Details
    • Value Estimation
      $260,000
      1,302 SF

      275 Grn St

      OFFICE BUILDING • 1,302 SF
      275 Grn St, Alexander City, AL 35010-2609
      View Details
    • Value Estimation
      $280,000
      758 SF

      Alexander City, AL 35010

      OFFICE BUILDING • 758 SF
      Alexander City, AL 35010
      View Details

    Similar Nearby for Sale

    • $1,762,720
      44,068 SF

      Alexander City Industrial Facility For Sale

      44,068 SF industrial facility in established industrial district.
      215 7 Way, Alexander City, AL 35010
      View Details
    • Contact for pricing
      500,000 SF

      Alex City Industrial Giant

      500K+ SF Warehouse, For Sale
      520 Comer St, Alexander City, AL 35010
      View Details
    • $58,500
      2.90 Acres

      Residential Land Near Peaceful Pond

      Two lots totaling nearly 3 acres in desirable neighborhood.
      6C/7C Rocky Creek Dr, Alexander City, AL 35010
      View Details
    • $99,000

      Commercial Land Near US HWY

      1.42 acre commercial land with B2 zoning.
      None Glenwood Rd, Alexander City, AL 35010
      View Details
    • $650,000
      9,551 SF

      Alexander City Commercial Retail Building

      Retail building for sale in growing Alexander City, Alabama.
      2190 Cherokee Rd, Alexander City, AL 35010
      View Details
    • $12,400,000
      99,999 SF

      Alexander City Commercial/Industrial Property

      474,201 SF commercial/industrial property in Alexander City, Alabama.
      520 Comer St, Alexander City, AL 35010
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr
      41,510 SF

      Alex City Retail Space Available

      High-visibility retail/office space in Alexander City, AL
      1219 Cherokee Rd, Alexander City, AL 35010
      View Details
    • Contact for pricing
      1,000 SF

      Executive Office Suite, Alexander City

      1,000 SF Office, Ample Parking, $1,000/Month
      786 Commerce Dr, Alexander City, AL 35010
      View Details
    • $34 SF/Yr
      500,000 SF

      Alexander City Industrial Distribution Center

      500,000 SF Distribution Space Available
      520 Comer St, Alexander City, AL 35010
      View Details
    • Contact for pricing

      Retail Space on Highway 280

      24,149 SF retail space available in Alexander City, AL.
      1061 S St, Alexander City, AL 35010
      View Details
    • $24 SF/Yr
      4,200 SF

      Downtown Alexander City Retail Space

      Prime location, flexible space, high traffic.
      110 Main St, Alexander City, AL 35010
      View Details
    • $4 SF/Yr
      18,345 SF

      Alexander City Warehouse/Retail Space

      Prime Alexander City location; 14,400-33,000 SF available.
      1235 Cherokee Rd, Alexander City, AL 35010
      View Details
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    232 Central Ave
    Alexander City, AL 35010-2535
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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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