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    Property profile & analytics

    613 Eastern Blvd Montgomery, AL 36117-2215

    • Strip malls
    • 4,911 SF
    • 0.52 lot acres
    OFF-MARKET
    Last Sale
    Dec 23, 2024
    $475,000
    Value Estimations
    $435,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0332395
    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

    • Strip malls

    Property Details for 613 Eastern Blvd

    Year built
    1984
    Construction
    WOOD
    Lot size
    0.52 lot acres
    Property size
    4,911 SF
    Zone code
    B-3
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    10-01-01-1-002-002.002
    APU
    1001011002002002

    Description

    This exceptional retail opportunity is located at 613 N. Eastern Blvd in Montgomery, Alabama, within Montgomery County. The property boasts a total of 4,768 square feet, offering multiple tenancy options. Currently, there are two available spaces, each measuring 1,200 square feet, representing a total of 2,400 square feet of vacant space. The minimum divisible space is 1,200 square feet, and the maximum contiguous space available is also 1,200 square feet. Built in 1984, this property sits on a half-acre lot (0.5 acres). Its strategic location on Northern Blvd and near Lagoon Park provides excellent visibility and accessibility. The high traffic volume of the area is further emphasized by the reported 40,082 Average Annual Daily Traffic (AADT) on nearby Lagoon Commercial Blvd. This makes it an ideal location for businesses seeking high foot traffic and strong brand visibility. The property's multi-tenant nature offers flexibility for various retail concepts. This is a rare opportunity to secure a well-positioned retail space in a thriving Montgomery location. The property's zip code is 36117.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $475,000
      ML approach
      $475,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $317,000
      Market price range: $161k - $595k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $380,000
      Current use
      MEDICAL BUILDING
      $705,000
      Change: +85% Conversion: Difficult
      RETAIL STORES
      $475,000
      Change: +25% Conversion: Easy
      COMMERCIAL (GENERAL)
      $375,000
      Change: -1% Conversion: Easy
      OFFICE BUILDING
      $365,000
      Change: -4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Montgomery
    State
    Alabama
    Longitude
    -86.2133
    Latitude
    32.4
    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
    $5,048
    $27,280
    $89,240
    $116,520
    -
    $136,400
    $446,200
    $582,600

    Comparable in this City

    • Value Estimation by Request
      38,646 SF

      6820 Eastchase Pkwy

      SHOPPING CENTER, STRIP CENTER • 38,646 SF
      6820 Eastchase Pkwy, Montgomery, AL 36117-6868
      View Details
    • Value Estimation
      $345,000
      18,892 SF

      2705 Bell Rd

      SHOPPING CENTER, STRIP CENTER • 18,892 SF
      2705 Bell Rd, Montgomery, AL 36117
      View Details
    • Value Estimation
      $4,155,000
      26,899 SF

      2762 Eastern Blvd

      SHOPPING CENTER, STRIP CENTER • 26,899 SF
      2762 Eastern Blvd, Montgomery, AL 36117-1550
      View Details
    • Value Estimation
      $300,000
      7,776 SF

      44 Ashburton Dr

      SHOPPING CENTER, STRIP CENTER • 7,776 SF
      44 Ashburton Dr, Montgomery, AL 36117-2807
      View Details
    • Value Estimation
      $790,000
      19,097 SF

      6085 Atlanta Hwy

      SHOPPING CENTER, STRIP CENTER • 19,097 SF
      6085 Atlanta Hwy, Montgomery, AL 36117-2803
      View Details
    • Value Estimation
      $220,000
      5,831 SF

      9174 Boyd Cooper Pkwy

      SHOPPING CENTER, STRIP CENTER • 5,831 SF
      9174 Boyd Cooper Pkwy, Montgomery, AL 36117-7590
      View Details

    Similar Nearby for Sale

    • $2,900,000
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    • $3,400,000
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      Eastern Blvd Retail Center

      Prime Montgomery Retail Opportunity
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    • New
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      Eastern Blvd Commercial Opportunity

      Prime commercial property on Eastern Blvd, Montgomery, AL.
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    • $345,000
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      Prime Montgomery location, excellent visibility, immediate possession.
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    • $650,000
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    Similar Nearby for Lease

    • Contact for pricing
      3,150 SF

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      3,150 SF

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      Retail space with excellent visibility and accessibility on Atlanta Highway.
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      25,678 SF

      Montgomery Promenade Retail Center

      Five Retail Spaces Available Now
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      View Details
    • $7,200 /Mo
      5,650 SF

      Wares Ferry Road Retail Center

      Prime Retail Strip Center, High Traffic Area
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      337,344 SF

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      View Details
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    613 Eastern Blvd
    Montgomery, AL 36117-2215
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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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