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    315 Main Ave Northport, AL 35476
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    315 Main Ave Northport, AL 35476

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    • Office buildings
    • 3,193 SF
    • 0.26 lot acres
    For Sale
    $599,000
    View Listing →
    Downtown Northport Mixed-Use Gem For Sale
    $599,000
    3,193 SF

    Downtown Northport Mixed-Use Gem

    Historic building, 3193 sq ft, $599,000

    North Port, AL 35476
    View Listing
    Property ID
    US03-0816500
    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

    • Office buildings

    Property Details for 315 Main Ave

    Year built
    1880
    Construction
    WOOD
    Lot size
    0.26 lot acres
    Property size
    3,193 SF
    Zone code
    RCI
    Property type
    Office buildings
    APN
    31-05-16-4-414-001.000
    APU
    3105164414001000

    Description

    This stunning 3,193 square foot office building, located at 315 Main Avenue in the heart of historic downtown Northport, Alabama, presents a unique investment opportunity. The property sits on a 0.26-acre lot and boasts impressive curb appeal, highlighted by ornate woodwork and a charming front porch. Inside, you'll find spacious rooms with high ceilings and abundant natural light provided by numerous windows. The building's previous use was as an office, making it ideally suited for a variety of professional uses. Ample public parking is readily available in the surrounding area, ensuring convenient access for employees and clients. This property offers a chance to own a piece of Northport's rich history while establishing a prominent presence in the vibrant downtown area. The asking price is $459,000. The building's size and location make it an excellent choice for businesses seeking a prestigious and well-situated office space in a thriving community. Its historic character and modern functionality combine to create a truly exceptional property. Don't miss this opportunity to own a piece of Northport's heritage and establish your business in a prime downtown location.

    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
    Northport
    County
    Tuscaloosa
    State
    Alabama
    Longitude
    -87.5776
    Latitude
    33.2178
    CBSA code
    46220
    CBSA name
    TUSCALOOSA, 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
    $2,010
    $9,320
    $42,900
    $52,220
    -
    $46,600
    $214,500
    $261,100

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    Similar Nearby for Sale

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      Northport Commercial Land For Sale

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      Downtown Northport Mixed-Use Gem

      Historic building, 3193 sq ft, $599,000
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      Northport Medical/Office Building For Sale

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      Northport Commercial Lot For Sale

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      Northport Industrial Investment Opportunity

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    Similar Nearby for Lease

    • Contact for pricing

      Class A Office Space Available

      Office suites for lease in desirable Northport location.
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      View Details
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      Northport Retail or Office Space

      Retail or office space available in Northport, Alabama.
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      Retail Space in Growing Northport

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      Retail Space in Black Warrior

      3,000 SF retail space with flexible floor plan.
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      Northport Retail/Restaurant Space Available

      2,035 SF former restaurant space for lease in Northport.
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      Northport Retail Space For Rent

      3,000 SF retail space available in Northport, Alabama.
      230 Mcfarland Blvd, Northport, AL 35476
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    View Listing
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    Northport, AL 35476
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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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