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    Property profile & analytics

    308 Saint Lukes Dr Montgomery, AL 36117

    • Medical offices
    • 0.37 lot acres
    OFF-MARKET
    Value Estimations
    $230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0314297
    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

    • Medical offices

    Property Details for 308 Saint Lukes Dr

    Lot size
    0.37 lot acres
    Zone code
    O-1
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    09-02-09-3-000-001.073
    APU
    902093000001073

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Montgomery
    State
    Alabama
    Longitude
    -86.1698
    Latitude
    32.3767
    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
    $1,180
    $16,220
    $8,120
    $24,340
    -
    $81,100
    $40,600
    $121,700

    Comparable in this City

    • Value Estimation
      $340,000
      2,306 SF

      6936 Winton Blount Blvd

      MEDICAL BUILDING • 2,306 SF
      6936 Winton Blount Blvd, Montgomery, AL 36117-3555
      View Details
    • Value Estimation
      $265,000
      478 SF

      6920 Winton Blount Blvd

      MEDICAL BUILDING • 478 SF
      6920 Winton Blount Blvd, Montgomery, AL 36117-3555
      View Details
    • Value Estimation
      $955,000
      9,550 SF

      488 Saint Lukes Dr

      MEDICAL BUILDING • 9,550 SF
      488 Saint Lukes Dr, Montgomery, AL 36117-7104
      View Details
    • Value Estimation
      $4,750,000
      22,383 SF

      273 Winton M Blount Loop

      MEDICAL BUILDING • 22,383 SF
      273 Winton M Blount Loop, Montgomery, AL 36117-3507
      View Details
    • Value Estimation
      $265,000
      4,914 SF

      7010 Fulton Ct

      MEDICAL BUILDING • 4,914 SF
      7010 Fulton Ct, Montgomery, AL 36117-8022
      View Details
    • Value Estimation
      $330,000
      6,984 SF

      2600 Bell Rd

      MEDICAL BUILDING • 6,984 SF
      2600 Bell Rd, Montgomery, AL 36117-4375
      View Details

    Similar Nearby for Sale

    • $495,650
      2,088 SF

      Modern Medical Office For Sale

      Modern medical office near Baptist East ER entrance, ample parking.
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    • $157,000
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      Mitylene Office Park Investment

      Prime Montgomery Office Land, $157,000
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    • $10,500,000
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      Montgomery Medical Office Portfolio

      Five Class B medical offices, strong tenant.
      432 St Lukes Dr, Montgomery, AL 36117
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    • $1,414,839
      7,310 SF

      Freestanding Medical Office Investment Opportunity

      7,310 SF medical office with a new 10-year NNN lease.
      7125 University Ct, Montgomery, AL 36117
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    • $10,500,000

      Medical Office Investment Opportunity

      Five medical office buildings in Montgomery and Troy, Alabama.
      448 St. Lukes Dr, Montgomery, AL 36117
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    • $345,000
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      Atlanta Hwy Commercial Land - 4 Acres

      Prime Montgomery location, excellent visibility, immediate possession.
      0 Highway 80, Montgomery, AL 36117
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    Similar Nearby for Lease

    • $28 SF/Yr
      4,585 SF

      Class A Medical Office in Montgomery, AL

      Modern Medical Office Space - Excellent Location
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      View Details
    • $6 SF/Yr
      14,925 SF

      Montgomery Flex Space Available

      3,000 SF Flex Space in Montgomery, AL
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      View Details
    • $13 SF/Yr
      20,082 SF

      Woodmere Office Center: Montgomery, AL

      Executive Suites, Montgomery, Alabama
      5950 Carmichael Pl, Montgomery, AL 36117
      View Details
    • $21 SF/Yr
      75,000 SF

      Halcyon Pointe I Office Space

      Class A Montgomery Office Suites, 496-1265 sqft.
      7515 Halcyon Summit Dr, Montgomery, AL 36117
      View Details
    • $30,000
      30,723 SF

      Prime Montgomery Office/Warehouse Space

      Class A Office & Warehouse, 5,535 SF Available
      5946 Monticello Dr, Montgomery, AL 36117
      View Details
    • $14 SF/Yr
      9,615 SF

      Prime Montgomery Office Space

      Class A Office, 2 Spaces Available
      451 St Lukes Dr, Montgomery, AL 36117
      View Details
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    Montgomery, AL 36117
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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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