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

    702 Michigan Ave Muscle Shoals, AL 35661

    • Turn key restaurants
    • 4,811 SF
    For Sale
    View listing
    $239,900
    Last Sale
    Apr 06, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-2112083
    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

    • Salt Stonery & Chophouse / Restaurant

    Property Details for 702 Michigan Ave

    Year built
    1981
    Property size
    4,811 SF
    Property type
    Turn key restaurants
    APN
    07-07-35-3-002-025.000
    APU
    707353002025000

    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
    Muscle Shoals
    County
    Colbert
    State
    Alabama
    Longitude
    -87.6649
    Latitude
    34.7487
    CBSA code
    22520
    CBSA name
    FLORENCE-MUSCLE SHOALS, 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
    $1,622
    $0.00
    $0.00
    $40,140
    -
    $14,800
    $185,900
    $200,700

    Comparable in this City

    • Value Estimation by Request
      46,250 SF

      3402 Woodward Ave

      RESTAURANT • 46,250 SF
      3402 Woodward Ave, Muscle Shoals, AL 35661-3542
      View Details
    • Value Estimation by Request
      24,895 SF

      619 Avalon Ave

      RESTAURANT • 24,895 SF
      619 Avalon Ave, Muscle Shoals, AL 35661-2301
      View Details
    • Value Estimation
      $1,100,000
      2,909 SF

      1704 Woodward Ave

      RESTAURANT • 2,909 SF
      1704 Woodward Ave, Muscle Shoals, AL 35661-2244
      View Details
    • Value Estimation by Request
      1,418 SF

      2501 Woodward Ave

      RESTAURANT • 1,418 SF
      2501 Woodward Ave, Muscle Shoals, AL 35661-3241
      View Details
    • Value Estimation by Request
      2,747 SF

      2227 Woodward Ave

      RESTAURANT • 2,747 SF
      2227 Woodward Ave, Muscle Shoals, AL 35661-2851
      View Details
    • Value Estimation by Request
      888 SF

      1716 Woodward Ave

      RESTAURANT • 888 SF
      1716 Woodward Ave, Muscle Shoals, AL 35661-2244
      View Details

    Similar Nearby for Sale

    • $239,900

      Restaurant Opportunity Near Woodward Avenue

      Restaurant for sale, one block from Woodward Avenue in Muscle Shoals.
      702 Michigan Ave, Muscle Shoals, AL 35661
      View Details
    • $1,375,000

      Open Land Ideal for Development

      Open land suitable for retail, business, hotel, or medical use.
      S Wilson Dam Rd, Muscle Shoals, AL 35661
      View Details
    • $1,100,000
      6,852 SF

      Remodeled Commercial Property, Muscle Shoals

      Two remodeled buildings in high-traffic Muscle Shoals location.
      2306 Woodward Ave, Muscle Shoals, AL 35661
      View Details
    • $1,100,000
      6,852 SF

      Remodeled Commercial Property, Muscle Shoals

      Two remodeled buildings in high-traffic Muscle Shoals location.
      2306 Woodard Ave, Muscle Shoals, AL 35661
      View Details
    • $88,000

      Muscle Shoals Commercial Land Investment

      Prime Commercial Land, High-Traffic Location.
      0 2Nd St, Muscle Shoals, AL 35661
      View Details
    • $84,900
      1.50 Acres

      Residential Lot in Dalton Estates

      1.5-acre residential lot in Muscle Shoals' Dalton Estates.
      Dalton Ln, Muscle Shoals, AL 35661
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Former Restaurant on Woodward Avenue

      5,798 SF former restaurant on 1.046 AC for rent.
      2227 Woodward Ave, Muscle Shoals, AL 35661
      View Details
    • Contact for pricing
      1,750 SF

      Retail Space Near Walmart

      Retail space available with high visibility and signalized access.
      233 Avalon Ave, Muscle Shoals, AL 35661
      View Details
    • $10 SF/Yr
      3,750 SF

      Kelsey Place Office Suites

      Muscle Shoals Office Space Available
      520 Kelsey Ave, Muscle Shoals, AL 35661
      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.
    702 Michigan Ave
    Muscle Shoals, AL 35661
    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.