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

    3011 Zelda Rd Montgomery, AL 36106-2650

    • Strip malls
    • 4,080 SF
    • 0.84 lot acres
    OFF-MARKET
    Last Sale
    Jan 13, 2021
    $380,000
    Value Estimations
    $365,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0288793
    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

    • Hair Odyssey / Hair Salon

    Property Details for 3011 Zelda Rd

    Year built
    2006
    Lot size
    0.84 lot acres
    Property size
    4,080 SF
    Zone code
    O-2
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    10-05-21-1-002-017.015
    APU
    1005211002017015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $320,000
      ML approach
      $320,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $494,000
      Market price range: $134k - $495k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $315,000
      Current use
      COMMERCIAL (GENERAL)
      $315,000
      Change: -1% Conversion: Easy
      RETAIL STORES
      $310,000
      Change: -2% Conversion: Easy
      OFFICE BUILDING
      $280,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Montgomery
    State
    Alabama
    Longitude
    -86.2644
    Latitude
    32.3555
    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
    $5,086
    $54,860
    $81,300
    $136,160
    -
    $274,300
    $406,500
    $680,800

    Comparable in this City

    • Value Estimation
      $775,000
      92,110 SF

      1611 Perry Hl Rd

      SHOPPING CENTER, STRIP CENTER • 92,110 SF
      1611 Perry Hl Rd, Montgomery, AL 36106-2729
      View Details
    • Value Estimation
      $315,000
      17,302 SF

      4911 Carmichael Rd

      SHOPPING CENTER, STRIP CENTER • 17,302 SF
      4911 Carmichael Rd, Montgomery, AL 36106-2917
      View Details
    • Value Estimation
      $320,000
      8,519 SF

      2900 Zelda Rd

      SHOPPING CENTER, STRIP CENTER • 8,519 SF
      2900 Zelda Rd, Montgomery, AL 36106-2608
      View Details
    • Value Estimation
      $205,000
      8,735 SF

      1027 Woodley Rd

      SHOPPING CENTER, STRIP CENTER • 8,735 SF
      1027 Woodley Rd, Montgomery, AL 36106-2429
      View Details
    • Value Estimation
      $375,000
      19,638 SF

      2930 Carter Hl Rd

      SHOPPING CENTER, STRIP CENTER • 19,638 SF
      2930 Carter Hl Rd, Montgomery, AL 36106-2531
      View Details
    • Value Estimation
      $310,000
      12,804 SF

      2347 Central Pkwy

      SHOPPING CENTER, STRIP CENTER • 12,804 SF
      2347 Central Pkwy, Montgomery, AL 36106-3244
      View Details

    Similar Nearby for Sale

    • $1,050,000
      1,617 SF

      Restaurant Space with Drive Thru

      Operating restaurant space with drive-thru on a busy corner.
      1756 Carter Hill Rd, Montgomery, AL 36106
      View Details
    • $1,050,000
      1,617 SF

      Montgomery QSR/Restaurant for Sale

      Profitable Drive-Thru Restaurant, 1617 sq ft
      1756 Carter Hill Rd, Montgomery, AL 36106
      View Details
    • $1,150,000
      0.50 Acres

      Montgomery Land For Sale

      Land available for sale in Montgomery, Alabama.
      Carmichael Rd, Montgomery, AL 36106
      View Details
    • $115,000
      2,167 SF

      Retail/Office Space in Montgomery

      Retail or office space in a prime Montgomery location.
      2021 Mulberry St, Montgomery, AL 36106
      View Details
    • $158,000
      1.55 Acres

      Montgomery M-1 Commercial Land

      1.55-Acre M-1 Zoned Site, $158,000
      2142 Spruce St, Montgomery, AL 36106
      View Details
    • Contact for pricing
      1.97 Acres

      Prime Montgomery Commercial Land

      1.97 Acres, PUD Zoning, Ideal Location
      0 Perry Hl Rd At Vaughn Rd, Montgomery, AL 36106
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Alabama State

      Retail space with high visibility near Alabama State University.
      1740 Carter Hill Rd, Montgomery, AL 36106
      View Details
    • $9 SF/Yr
      5,400 SF

      Walnut Street Retail Center

      Prime Montgomery Retail Space, 3 Suites
      1967 Walnut St, Montgomery, AL 36106
      View Details
    • Contact for pricing
      16,853 SF

      Carmichael Place: Office & Retail Space

      Prime I-85 location; flexible office/retail suites.
      4834 Woods Crossing Dr, Montgomery, AL 36106
      View Details
    • $10 SF/Yr
      12,480 SF

      I-85 Parkway Executive Suites

      Montgomery, AL Office Space Available
      1401 Parkway Loop, Montgomery, AL 36106
      View Details
    • $176 SF/Yr
      10,866 SF

      Prime Montgomery Executive Office Space

      2,353 SF Available, Class C Office
      4719 Woodmere Blvd, Montgomery, AL 36106
      View Details
    • Contact for pricing
      1,364 SF

      Executive Office Suite in Montgomery

      1364 sq ft, Single Tenant, Class B Office
      4216 Carmichael Ct, Montgomery, AL 36106
      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.
    3011 Zelda Rd
    Montgomery, AL 36106-2650
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.