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    Property profile & analytics

    2900 Mcgehee Rd Montgomery, AL 36111

    • Office buildings
    • 9,125 SF
    • 0.85 lot acres
    For Sale
    View listing
    $975,000
    Last Sale
    Dec 05, 2022
    $945,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0172731
    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

    • MAO - Medical Advocacy and Outreach / Hiv Testing Center / Pharmacy
    • Copeland Care Clinic Montgomery / Medical Clinic / Hiv Testing Center
    • Dr. Cordelia Stearns / Internist / Health Care Facility
    • Wickliffe Many Jr, MD / Infectious Disease Physician
    • MAO Telehealth Resource Center / Establishment

    Property Details for 2900 Mcgehee Rd

    Year built
    1968
    Lot size
    0.85 lot acres
    Property size
    9,125 SF
    Zone code
    B-4
    Property type
    Office buildings
    APN
    10-08-28-4-003-004.000
    APU
    1008284003004000

    Description

    This exceptional investment opportunity presents a portfolio of two medical office buildings totaling 16,891 square feet situated on a 1.39-acre lot in Montgomery, Alabama. The property, located at 2900 McGehee Rd, boasts a convenient location near Baptist Medical Center South and Jackson Hospital, ensuring high visibility and accessibility for medical professionals and patients. Built in 1968 and extensively renovated in 2024, the single-story buildings are zoned B-4 Retail/Office, offering flexibility for various medical uses. The asking price is $975,000, translating to $57.72 per square foot. A unique leaseback option is available for up to one year, providing a smooth transition for the buyer. This presents a compelling opportunity for medical practices seeking a strategic location with excellent access to major healthcare facilities. The property's recent renovation ensures modern amenities and functionality, making it an attractive investment for both owner-occupiers and investors. The portfolio's proximity to major hospitals makes it an ideal location for medical practices seeking high patient traffic and convenient access to medical resources. This is a rare opportunity to acquire a well-maintained, strategically located medical office portfolio in a thriving healthcare market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $705,000
      ML approach
      $700,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $653,000
      Market price range: $388k - $882k

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

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Montgomery
    State
    Alabama
    Longitude
    -86.2624
    Latitude
    32.3373
    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
    $0.00
    $14,760
    $139,860
    $154,620
    -
    $73,800
    $699,300
    $773,100

    Comparable in this City

    • Value Estimation
      $90,000
      8,889 SF

      3054 Mcgehee Rd

      OFFICE BUILDING • 8,889 SF
      3054 Mcgehee Rd, Montgomery, AL 36111-2203
      View Details
    • Value Estimation
      $520,000
      28,095 SF

      3455 Carter Hl Rd

      OFFICE BUILDING • 28,095 SF
      3455 Carter Hl Rd, Montgomery, AL 36111-1807
      View Details
    • Value Estimation
      $250,000
      3,963 SF

      3080 Mcgehee Rd

      OFFICE BUILDING • 3,963 SF
      3080 Mcgehee Rd, Montgomery, AL 36111-2203
      View Details
    • Value Estimation
      $260,000
      9,006 SF

      3265 Mcgehee Rd

      OFFICE BUILDING • 9,006 SF
      3265 Mcgehee Rd, Montgomery, AL 36111-2301
      View Details
    • Value Estimation
      $240,000
      4,618 SF

      3733 Governors Dr

      OFFICE BUILDING • 4,618 SF
      3733 Governors Dr, Montgomery, AL 36111-3243
      View Details
    • Value Estimation
      $235,000
      12,359 SF

      3077 Carter Hl Rd

      OFFICE BUILDING • 12,359 SF
      3077 Carter Hl Rd, Montgomery, AL 36111-1801
      View Details

    Similar Nearby for Sale

    • $975,000
      16,891 SF

      Montgomery Medical Office Portfolio

      Prime Medical Office, Two Buildings
      2900 Mcgehee Rd, Montgomery, AL 36111
      View Details
    • New
      $115,000

      Montgomery Commercial Property For Sale

      Commercial property suitable for office, daycare, or religious facility.
      3458 Lexington Rd, Montgomery, AL 36111
      View Details
    • $299,000
      42,168 SF

      Montgomery Retail Investment Opportunity

      High-traffic retail building, 42,168 sq ft.
      3763 Norman Bridge Rd, Montgomery, AL 36111
      View Details
    • Contact for pricing
      4.50 Acres

      McGehee Road Retail Land Opportunity

      Prime 4.5-acre vacant parcel, high visibility.
      3443 Mcgehee Rd, Montgomery, AL 36111
      View Details
    • $350,000

      Prime Montgomery Corner Lot

      24,000 SF Commercial Land, $350,000
      511 Edgemont Ave, Montgomery, AL 36111
      View Details
    • $250,000

      McGehee Road Commercial Building

      High-traffic location, ideal for medical use
      2908 Mcgehee Rd, Montgomery, AL 36111
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      36,641 SF

      Sunshine Village Retail Center

      Montgomery, AL Strip Mall - 5 Spaces Available
      441-449 Eastern Blvd, Montgomery, AL 36111
      View Details
    • $10 SF/Yr
      36,641 SF

      Sunshine Mall Retail Space Available

      Montgomery, AL Strip Center Space for Lease
      441-449 Eastern Blvd, Montgomery, AL 36111
      View Details
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    Montgomery, AL 36111
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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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