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    Property profile & analytics

    3445 Aronov Ave Montgomery, AL 36108

    • Warehouses
    • 45,648 SF
    • 3.15 lot acres
    For Lease
    View listing
    Last Sale
    Jul 06, 2023
    $1,000,000
    Value Estimations
    $860,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0939611
    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

    • Warehouses

    Property Details for 3445 Aronov Ave

    Year built
    1942
    Construction
    WOOD
    Lot size
    3.15 lot acres
    Property size
    45,648 SF
    Zone code
    M-3
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    11-05-21-4-001-003.000
    APU
    1105214001003000

    Description

    This exceptional Montgomery County investment opportunity presents a prime 1-acre industrial land parcel with a small shop, ideally suited for truck and trailer parking. The property boasts a total building area of 44,882 square feet, with 30,000 square feet currently vacant and available for lease. The existing structure is classified as Class D and was constructed in 1942. The site's strategic location offers unparalleled access to major transportation arteries. Situated just off Highway 31, it provides convenient access to Interstates 65 and 85, ensuring seamless logistics and efficient distribution. Furthermore, its proximity to Hyundai Motor Manufacturing Alabama (eight miles away) presents a significant advantage for businesses serving this major automotive manufacturer. The property is easily able to accommodate 12-15 trailers. The lease rate is $1,500 per month. This multi-tenant property offers a compelling opportunity for businesses seeking ample space and strategic location in a thriving industrial area of Montgomery County. The property is zoned for commercial and industrial use, making it suitable for a variety of businesses. The available space is ideal for truck and trailer parking, storage, or light industrial operations. This is a rare opportunity to secure a well-located industrial property with excellent access to major transportation routes and a significant manufacturing hub.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $950,000
      ML approach
      $995,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $579,000
      Market price range: $580k - $1.86M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,020,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Montgomery
    State
    Alabama
    Longitude
    -86.3614
    Latitude
    32.35
    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
    2024
    $2,469
    $6,300
    $40,100
    $46,400
    -
    $31,500
    $200,500
    $232,000

    Comparable in this City

    • Value Estimation
      $210,000
      1.10 Acres

      3630 Capital Plz Dr

      MINI-WAREHOUSE, STORAGE • 1.10 Acres
      3630 Capital Plz Dr, Montgomery, AL 36108-1407
      View Details
    • Value Estimation
      $235,000
      4.60 Acres

      3527 Mobile Hwy

      MINI-WAREHOUSE, STORAGE • 4.60 Acres
      3527 Mobile Hwy, Montgomery, AL 36108-4434
      View Details
    • Value Estimation
      $225,000
      2.50 Acres

      Hwy 31

      MINI-WAREHOUSE, STORAGE • 2.50 Acres
      Hwy 31, Montgomery, AL 36108
      View Details
    • Value Estimation
      $220,000
      2.00 Acres

      Hwy 31

      MINI-WAREHOUSE, STORAGE • 2.00 Acres
      Hwy 31, Montgomery, AL 36108
      View Details
    • Value Estimation
      $780,000
      391,901 SF

      2850 Selma Hwy

      MINI-WAREHOUSE, STORAGE • 391,901 SF
      2850 Selma Hwy, Montgomery, AL 36108-5036
      View Details
    • Value Estimation
      $225,000
      1,591 SF

      6042 Selma Hwy

      MINI-WAREHOUSE, STORAGE • 1,591 SF
      6042 Selma Hwy, Montgomery, AL 36108-4876
      View Details

    Similar Nearby for Sale

    • $594,000
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      Montgomery Industrial Flex Space

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    • $1,200,000
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      Montgomery Industrial Warehouse - $1.2M

      43,000 SF Warehouse, M-3 Zoning, Vacant
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    • $60,000
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      Commercial Metal Building on Large Lot

      1784 sq ft metal building on approximately 2 acres.
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    • $790,000
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      Montgomery Industrial Property For Sale

      30,000 SF industrial property on 2 acres in Montgomery, AL.
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    • $375,000
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      9.5 Acres Commercial Land in Montgomery

      Prime Montgomery location, B-3 zoning, all city utilities.
      0 Mobile Hwy, Montgomery, AL 36108
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    • $100,000
      20.10 Acres

      20.1 Acres Vacant Land

      20.1 acre vacant land tract suitable for recreation.
      Hayneville Rd, Montgomery, AL 36108
      View Details

    Similar Nearby for Lease

    • $595,000
      8,094 SF

      Montgomery Warehouse and Office Space

      Two-building property with recent upgrades, suitable for various business uses.
      3220 Money Rd, Montgomery, AL 36108
      View Details
    • Contact for pricing
      410,000 SF

      Mobile Highway Industrial Warehouse

      New 410,000 SF Manufacturing Facility, 108,000 SF Available
      0 Mobile Hwy, Montgomery, AL 36108
      View Details
    • Contact for pricing

      Spacious Industrial Facility with Office

      Large industrial space with corporate office near major transportation.
      2855 Selma Hwy, Montgomery, AL 36108
      View Details
    • Contact for pricing
      44,882 SF

      Aronov Ave. Truck & Trailer Parking

      Montgomery County industrial land lease; 30,000 sq ft available.
      3445 Aronov Ave, Montgomery, AL 36108
      View Details
    • $11 SF/Yr
      2,630 SF

      Selma Road Retail Opportunity

      Prime Retail Space, High Traffic Area
      6200 Old Selma Rd, Montgomery, AL 36108
      View Details
    • Contact for pricing

      Montgomery Commercial Land - 5.5 Acres

      Prime M-1 zoned land, ideal for development.
      2829 Southwest St, Montgomery, AL 36108
      View Details
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    Montgomery, AL 36108
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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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