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    Property profile & analytics

    403 Main St Evergreen, AL 36401

    • Flex space
    • 76,730 SF
    • 5.90 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-2544362
    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

    • Flex space

    Property Details for 403 Main St

    Lot size
    5.90 lot acres
    Property size
    76,730 SF
    Property type
    Flex space
    Property subtype
    Distribution centers

    Description

    This exceptional 5.9-acre industrial property, located at 403 N Main Street in Evergreen, Alabama (zip code 36401), presents a unique investment opportunity. The property boasts nearly 77,000 square feet of improvements, strategically situated with frontage on both North Main Street and Salter Street, offering convenient access to I-65. The site comprises six industrial buildings, each single-story, totaling the substantial 76,730 square feet of space. Adding to the versatility, nine storage sheds are included. A fully finished office building provides essential administrative space. The property's history includes use as a lumber yard, and notable features include three kilns equipped with two control rooms. The asking price is $549,000, reflecting a compelling value for this substantial industrial complex in Conecuh County, Alabama. The motivated seller invites serious inquiries. This property is ideal for owner-users seeking a large-scale industrial space with significant existing infrastructure. The location offers excellent accessibility and visibility, making it an attractive proposition for a variety of industrial uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Evergreen
    County
    Conecuh
    State
    Alabama
    Longitude
    -86.9486986
    Latitude
    31.4416319

    Comparable in this City

    • $65,000
      8.60 Acres

      8.6 Acres Commercial Land Evergreen

      Commercial land with high visibility in Evergreen, Alabama.
      Wild Ave, Evergreen, AL 36401
      View Details
    • Contact for pricing
      0.73 Acres

      Evergreen, AL Undeveloped Lots

      Two multi-family zoned lots totaling 0.73 acres in Evergreen.
      Factory St, Evergreen, AL 36401
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    • Contact for pricing
      23.61 Acres

      I-65 Exit 96 Commercial Land

      23 Acres, High-Traffic Location, Development Ready
      I-65 Exit 96, Evergreen, AL 36401
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    • $360,000
      30 SF

      Hunting Camp & Recreational Tract

      Hunting camp with cabin, pond, shed, and metal shop.
      817 Wiggins Rd Evergreen, Evergreen, AL 36401
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    • $100,000
      23 SF

      Prime Commercial Land I-65

      Land available for hotel, restaurant, and retail development.
      I-65 Exit 96, Evergreen, AL 36401
      View Details
    • $359,000
      80.00 Acres

      80 Acres Hunting Land, Evergreen

      Turnkey hunting tract with mature hardwoods and homesite potential.
      291 Pine Trl, Evergreen, AL 36401
      View Details

    Similar Nearby for Sale

    • $65,000
      8.60 Acres

      8.6 Acres Commercial Land Evergreen

      Commercial land with high visibility in Evergreen, Alabama.
      Wild Ave, Evergreen, AL 36401
      View Details
    • Contact for pricing
      0.73 Acres

      Evergreen, AL Undeveloped Lots

      Two multi-family zoned lots totaling 0.73 acres in Evergreen.
      Factory St, Evergreen, AL 36401
      View Details
    • Contact for pricing
      23.61 Acres

      I-65 Exit 96 Commercial Land

      23 Acres, High-Traffic Location, Development Ready
      I-65 Exit 96, Evergreen, AL 36401
      View Details
    • $360,000
      30 SF

      Hunting Camp & Recreational Tract

      Hunting camp with cabin, pond, shed, and metal shop.
      817 Wiggins Rd Evergreen, Evergreen, AL 36401
      View Details
    • $100,000
      23 SF

      Prime Commercial Land I-65

      Land available for hotel, restaurant, and retail development.
      I-65 Exit 96, Evergreen, AL 36401
      View Details
    • $359,000
      80.00 Acres

      80 Acres Hunting Land, Evergreen

      Turnkey hunting tract with mature hardwoods and homesite potential.
      291 Pine Trl, Evergreen, AL 36401
      View Details
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    403 Main St
    Evergreen, AL 36401
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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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