Sign Up Successful!
You now have access to more from Realmo!
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

    2593 Morgan Rd Bessemer, AL 35022-5052

    • Grocery and convenience stores
    • 9,388 SF
    • 1.70 lot acres
    OFF-MARKET
    Last Sale
    Aug 25, 2020
    $2,703,141
    Value Estimations
    $2,485,000
    Show details
    Cap Rate Potential
    6.2%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US03-0407544
    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

    • Circle K / Convenience Store
    • Shell / Convenience Store / Restaurant

    Property Details for 2593 Morgan Rd

    Year built
    2019
    Lot size
    1.70 lot acres
    Property size
    9,388 SF
    Zone code
    I4
    Property type
    Grocery and convenience stores
    APN
    38-00-35-1-001-031.001
    APU
    3800351001031001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,260,000
      ML approach
      $1,990,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,340,000
      6.5%
      $2,160,000
      7%
      $2,005,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,097,000
      Market price range: $89.7k - $3.10M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,395,000
      APARTMENT HOUSE (5+ UNITS)
      $1,865,000
      MEDICAL BUILDING
      $1,495,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Bessemer
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.9233
    Latitude
    33.3415
    CBSA code
    13820
    CBSA name
    BIRMINGHAM-HOOVER, 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
    2022
    $22,633
    $118,480
    $287,340
    $405,820
    -
    $592,400
    $1,436,700
    $2,029,100

    Comparable in this City

    • Value Estimation by Request
      4,780 SF

      2497 Morgan Rd

      CONVENIENCE STORE • 4,780 SF
      2497 Morgan Rd, Bessemer, AL 35022-5034
      View Details
    • Value Estimation by Request
      2,318 SF

      1700 4th SW Ave

      CONVENIENCE STORE • 2,318 SF
      1700 4th SW Ave, Bessemer, AL 35022-5223
      View Details
    • Value Estimation
      $620,000
      3,720 SF

      2924 Morgan Rd

      CONVENIENCE STORE • 3,720 SF
      2924 Morgan Rd, Bessemer, AL 35022-6450
      View Details
    • Value Estimation by Request
      1,350 SF

      2204 Morgan Rd

      GROCERY, SUPERMARKET • 1,350 SF
      2204 Morgan Rd, Bessemer, AL 35022-4850
      View Details
    • Value Estimation by Request
      1,260 SF

      1633 Powder Plant Rd

      CONVENIENCE STORE • 1,260 SF
      1633 Powder Plant Rd, Bessemer, AL 35022
      View Details
    • Value Estimation by Request
      2,941 SF

      670 9th SW Ave

      CONVENIENCE STORE • 2,941 SF
      670 9th SW Ave, Bessemer, AL 35022-4502
      View Details

    Similar Nearby for Sale

    • $2,505,046
      10,566 SF

      Bessemer, AL Dollar General

      High-yield NNN retail investment.
      2070 Shannon Oxmoor Rd, Bessemer, AL 35022
      View Details
    • $135,000
      1.00 Acre

      Restaurant Business For Sale

      Restaurant business for sale, includes equipment in Bessemer, Alabama.
      1209 Lake Dr, Bessemer, AL 35022
      View Details
    • $11,500,000
      26.20 Acres

      Bessemer Retail Development Opportunity

      Retail space with development potential near major manufacturers.
      4500 Katies Way, Bessemer, AL 35022
      View Details
    • $500,000
      1.60 Acres

      Bessemer Commercial Land Opportunity

      High-Visibility Commercial Lot, 1.6 Acres
      4334 Bell Hill Rd, Bessemer, AL 35022
      View Details
    • $399,900
      1.41 Acres

      Bessemer Commercial Land Opportunity

      High-potential commercial lot near Publix.
      1524 Valley Dr, Bessemer, AL 35022
      View Details
    • Contact for pricing
      1.00 Acre

      Lakeshore Parkway Business Land

      Bessemer, AL: Prime Industrial Land
      0 Lakeshore Pkwy, Birmingham, AL 35022
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,897 SF

      Bessemer, AL QSR with Drive-Thru

      High-traffic location, former QSR, 2,897 sqft
      2931 Morgan Rd, Bessemer, AL 35022
      View Details
    • Contact for pricing

      Retail Space Near Aldi Store

      Retail space available near I-459 and new Aldi.
      2910 Morgan Rd, Bessemer, AL 35022
      View Details
    • Contact for pricing
      310,872 SF

      Tannehill Promenade Retail Space

      Bessemer, AL Shopping Center Opportunity
      4889 Promenade Pkwy, Bessemer, AL 35022
      View Details
    • Contact for pricing
      99,893 SF

      Bessemer Retail Center - 59 West

      High-traffic retail space available. Multiple suites, ample parking.
      59 Academy Dr & Interstate 59, Bessemer, AL 35022
      View Details
    • $20 SF/Yr
      19,720 SF

      Morgan Road Station Retail Space

      High-traffic retail space available now.
      3979 Parkwood Rd, Bessemer, AL 35022
      View Details
    • Contact for pricing
      6,000 SF

      Bessemer Office Building - 1 Story

      6,000 SF Office Building, 1,500 SF Available
      6283 Park Dr, Bessemer, AL 35022
      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.
    2593 Morgan Rd
    Bessemer, AL 35022-5052
    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.