Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    511 Eastern Blvd Montgomery, AL 36117-2213

    • Retail properties
    • 10,644 SF
    • 1.47 lot acres
    OFF-MARKET
    Last Sale
    Nov 15, 2023
    Value Estimations
    $140,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0330272
    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

    • Bazzell Red & Son Auto Body & Paint Shop / Auto Body Shop

    Property Details for 511 Eastern Blvd

    Year built
    1986
    Lot size
    1.47 lot acres
    Property size
    10,644 SF
    Zone code
    B-3
    Property type
    Retail properties
    APN
    10-01-01-1-003-006.000
    APU
    1001011003006000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $140,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Montgomery
    State
    Alabama
    Longitude
    -86.2132
    Latitude
    32.3973
    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
    $6,602
    $61,480
    $73,220
    $134,700
    -
    $307,400
    $366,100
    $673,500

    Comparable in this City

    • Value Estimation by Request
      0.60 Acres

      Atlanta Hwy & Taylor Rd

      Medical offices • 26,136 SF
      0 Atlanta Hwy & Taylor Rd, Montgomery, AL 36117
      View Details
    • Value Estimation by Request
      42,432 SF

      1540 Eastern Blvd

      Retail properties • 42,432 SF
      1540 Eastern Blvd, Montgomery, AL 36117
      View Details
    • Value Estimation by Request

      6200 Atlanta Hwy

      Retail properties
      6200 Atlanta Hwy, Montgomery, AL 36117
      View Details
    • Value Estimation by Request
      20,050 SF

      111 Burbank Dr

      Neighborhood centers • 20,050 SF
      111 Burbank Dr, Montgomery, AL 36117
      View Details
    • Value Estimation by Request
      1,615 SF

      7236 Halcyon Park Dr

      Retail properties • 1,615 SF
      7236 Halcyon Park Dr, Montgomery, AL 36117
      View Details
    • Value Estimation
      $300,000
      3,000 SF

      209 Eastern Blvd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,000 SF
      209 Eastern Blvd, Montgomery, AL 36117-2009
      View Details

    Similar Nearby for Sale

    • $2,900,000
      24,074 SF

      Looking Good Shopping Center

      Fully Leased Retail Investment
      7920-7968 Atlanta Hwy, Montgomery, AL 36117
      View Details
    • $3,400,000
      59,061 SF

      Eastern Blvd Retail Center

      Prime Montgomery Retail Opportunity
      555 Eastern Blvd, Montgomery, AL 36117
      View Details
    • $15,400,000
      221,065 SF

      Montgomery Promenade: Retail Investment

      High-Yield Shopping Center in Montgomery, AL
      2540 Eastern Blvd, Montgomery, AL 36117
      View Details
    • $345,000
      4.05 Acres

      Atlanta Hwy Commercial Land - 4 Acres

      Prime Montgomery location, excellent visibility, immediate possession.
      0 Highway 80, Montgomery, AL 36117
      View Details
    • $650,000
      1,420 SF

      Prime Montgomery Gas Station

      High-traffic location, excellent investment.
      5670 Atlanta Hwy, Montgomery, AL 36117
      View Details
    • $157,000
      0.60 Acres

      Mitylene Office Park Investment

      Prime Montgomery Office Land, $157,000
      0 Atlanta Hwy & Taylor Rd, Montgomery, AL 36117
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      42,432 SF

      Woodmere Crossing Retail Center

      High-traffic retail center, spaces available
      1540 Eastern Blvd, Montgomery, AL 36117
      View Details
    • $8 SF/Yr
      15,565 SF

      Burbank Drive Retail Space Available

      Prime Retail Space, 1,680 SF Available
      207 Burbank Dr, Montgomery, AL 36117
      View Details
    • $9 SF/Yr
      12,010 SF

      420 N Eastern Blvd

      Flex space • 12,010 SF
      420 Eastern Blvd, Montgomery, AL 36117
      View Details
    • Contact for pricing
      1,978 SF

      Eastchase Parkway Retail Space

      Prime Montgomery Retail, 1,978 SF Available
      7700 Eastchase Pkwy, Montgomery, AL 36117
      View Details
    • Contact for pricing
      60,198 SF

      Bell Road Retail Center Investment

      Montgomery, AL: Prime Retail Spaces Available
      6200 Atlanta Hwy, Montgomery, AL 36117
      View Details
    • Contact for pricing
      25,678 SF

      Montgomery Promenade Retail Center

      Five Retail Spaces Available Now
      2540 Eastern Blvd, Montgomery, AL 36117
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    511 Eastern Blvd
    Montgomery, AL 36117-2213
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.