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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    450 Rdg Marina Way Alexander City, AL 35010-9211

    • Retail properties
    • 8,230 SF
    • 9.20 lot acres
    OFF-MARKET
    Value Estimations
    $1,355,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1733509
    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

    • Russell Marine - The Ridge Marina / Marine Supply Store / Marina
    • Nibblers Float Thru-Grill / Restaurant
    • Freedom Boat Club - Lake Martin, AL / Boat Club

    Property Details for 450 Rdg Marina Way

    Year built
    1984
    Lot size
    9.20 lot acres
    Property size
    8,230 SF
    Property type
    Retail properties
    APN
    07-02-09-0-001-002.001
    APU
    702090001002001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,397,000
      Market price range: $415k - $1.40M
      AI Estimate
      $1,317,000
      Market price range: $410k - $1.32M

    • Alternative Use

      Use
      Estimation
      SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
      $820,000
      Current use
      RETAIL STORES
      $1,010,000
      Change: +23% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Alexander City
    County
    Elmore
    State
    Alabama
    Longitude
    -85.9704
    Latitude
    32.7381
    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
    $7,075
    $710,700
    $2,079,050
    $2,789,750
    -
    $710,700
    $2,079,050
    $2,789,750

    Comparable in this City

    • Value Estimation by Request
      3,000 SF

      741 Jefferson St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,000 SF
      741 Jefferson St, Alexander City, AL 35010-1440
      View Details
    • Value Estimation by Request
      3,600 SF

      2192 Sugar Crk Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,600 SF
      2192 Sugar Crk Rd, Alexander City, AL 35010-3454
      View Details
    • Value Estimation by Request
      3,132 SF

      1152 Turtle Nck Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,132 SF
      1152 Turtle Nck Rd, Alexander City, AL 35010
      View Details
    • Value Estimation by Request
      2,400 SF

      Alexander City, AL 35010

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,400 SF
      Alexander City, AL 35010
      View Details
    • Value Estimation by Request
      577 SF

      Alexander City, AL 35010

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 577 SF
      Alexander City, AL 35010
      View Details
    • Value Estimation
      $570,000
      8,800 SF

      Alexander City, AL 35010

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 8,800 SF
      Alexander City, AL 35010
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land Near Lake Martin

      Land parcels available near Hwy 280 and Lake Martin.
      280 & AL-63 Hwy, Alexander City, AL 35010
      View Details
    • $915,000
      10,000 SF

      Spacious Commercial Property in Alexander

      10,000 sq ft commercial property ideal for bar/restaurant/retail.
      82 Court Sq, Alexander City, AL 35010
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    • $375,000

      Lake Martin Furnished Waterfront Condo

      Furnished 3-bedroom, 2-bathroom condo on Lake Martin.
      189 Williams Rd, Alexander City, AL 35010
      View Details
    • $995,000
      1.05 Acres

      Waterfront Lot in Gated Community

      Homesite with water access and community amenities in Alexander City.
      468 Luannes Way, Alexander City, AL 35010
      View Details
    • $312,000
      78.00 Acres

      Secluded Land with Duck Pond

      78 acres in Alexander City perfect for recreation and investment.
      Cedar Ln, Alexander City, AL 35010
      View Details
    • $1,250,000
      0.72 Acres

      Residential Land with Lake Views

      0.72-acre homesite with 148 feet of shoreline.
      661 Way Luanne's, Alexander City, AL 35010
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      18,345 SF

      Alexander City Warehouse/Retail Space

      Prime Alexander City location; 14,400-33,000 SF available.
      1235 Cherokee Rd, Alexander City, AL 35010
      View Details
    • $5 SF/Yr
      41,510 SF

      Alex City Retail Space Available

      High-visibility retail/office space in Alexander City, AL
      1219 Cherokee Rd, Alexander City, AL 35010
      View Details
    • Contact for pricing

      Retail Space on Highway 280

      24,149 SF retail space available in Alexander City, AL.
      1061 S St, Alexander City, AL 35010
      View Details
    • $24 SF/Yr
      4,200 SF

      Downtown Alexander City Retail Space

      Prime location, flexible space, high traffic.
      110 Main St, Alexander City, AL 35010
      View Details
    • $34 SF/Yr
      500,000 SF

      Alexander City Industrial Distribution Center

      500,000 SF Distribution Space Available
      520 Comer St, Alexander City, AL 35010
      View Details
    • Contact for pricing
      1,000 SF

      Executive Office Suite, Alexander City

      1,000 SF Office, Ample Parking, $1,000/Month
      786 Commerce Dr, Alexander City, AL 35010
      View Details
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    450 Rdg Marina Way
    Alexander City, AL 35010-9211
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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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