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    300 Mcmillan Ave Bay Minette, AL 36507
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    300 Mcmillan Ave, Bay Minette, AL 36507

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    • Apartment buildings
    • 3,617 SF
    • 0.34 lot acres
    For Sale
    $289,900
    View Listing →
    Quadplex with Updated HVAC Systems For Sale
    $289,900
    3,466 SF

    Quadplex with Updated HVAC Systems

    Four occupied one-bedroom, one-bath units with recent roof replacement and interior/exterior HVAC upgrades.

    300 Mcmillan Avenue, Bay Minette, AL 36507
    View Listing
    Property ID
    US03-0760166
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 300 Mcmillan Ave

    Year built
    1930
    Lot size
    0.34 lot acres
    Property type
    Apartment buildings
    APN
    23-02-09-3-000-141
    APU
    2302093000141

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 20, 2021 $90,000 Tm Smith Holdings LLC James D Mcmillan Warranty Deed —
    Nov 6, 2019 — James D Mcmillan — Deed · related $25k · United Bank
    — — James D Mcmillan — Deed Of Trust · related $15k · Davis Benjamin M Trust (pt)
    — — James D Mcmillan — Deed Of Trust · related $10k · Davis Benjamin M Trust (tr)
    — — James D Mcmillan — Deed Of Trust · related $147k · Southpoint Bank
    — — James D Mcmillan — Deed Of Trust · related $12k · Davis Benjamin M Trust (pt)

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bay Minette
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.7775
    Latitude
    30.8838
    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
    $738
    $3,880
    $13,480
    $17,360
    -
    $19,400
    $67,400
    $86,800

    Comparable in this City

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      5,896 SF

      200 Dobson Ave

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    • Value Estimation
      $560,000
      5,562 SF

      1310 Mcmeans Ave

      APARTMENT HOUSE (5+ UNITS)
      1310 Mcmeans Ave, Bay Minette, AL 36507-3343
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    • Value Estimation by Request
      2,241 SF

      301 Hospital St

      APARTMENT HOUSE (5+ UNITS)
      301 Hospital St, Bay Minette, AL 36507-4166
      View Details
    • Value Estimation
      $620,000
      6,893 SF

      1801 Us Hwy 31

      APARTMENT HOUSE (5+ UNITS)
      1801 Us Hwy 31, Bay Minette, AL 36507-2616
      View Details
    • Value Estimation
      $560,000
      5,882 SF

      904 Clark Ave

      APARTMENT HOUSE (5+ UNITS)
      904 Clark Ave, Bay Minette, AL 36507-3318
      View Details
    • Value Estimation
      $565,000
      6,656 SF

      153 16th St

      APARTMENT HOUSE (5+ UNITS)
      153 16th St, Bay Minette, AL 36507-5029
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Unzoned Acreage with Rental Income

      11+/- acres with home and rental income potential.
      41260 State Highway 59, Bay Minette, AL 36507
      View Details
    • $289,900
      3,466 SF

      Quadplex with Updated HVAC Systems

      Four occupied one-bedroom, one-bath units with recent roof replacement and interior/exterior HVAC upgrades.
      300 Mcmillan Ave, Bay Minette, AL 36507
      View Details
    • $825,000
      43.00 Acres

      Bay Minette Farm/Estate with Cottage

      43-acre Bay Minette property with cottage, pond, and timber.
      42518 Dixon Rd S, Bay Minette, AL 36507
      View Details
    • $189,900
      2.16 Acres

      Estate Sized Residential Lots

      2-3 acre lots ready for your dream home.
      State Highway 225, Bay Minette, AL 36507
      View Details
    • $202,800
      12.00 Acres

      Bay Minette Homesite with Creek Frontage

      12-acre homesite in Whitehouse Forks with creek frontage.
      Whitehouse Fork Road Ext, Bay Minette, AL 36507
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,773 SF

      Former QSR on Signalized Corner

      Former QSR with high traffic and ample parking available.
      980 Us Highway 31 S, Bay Minette, AL 36507
      View Details
    • Contact for pricing

      Prime Lots Near Novelis Plant

      Available lots for ground lease or build to suit.
      3 Rabun Rd, Bay Minette, AL 36507
      View Details
    View Listing
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    Bay Minette, AL 36507
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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.

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    300 Mcmillan Ave, Bay Minette, AL, 36507
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