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    906 Boone Dr Phenix City, AL 36867

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    906 Boone Dr Phenix City, AL 36867

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    • Commercial land
    For Sale
    $355,000
    View Listing →
    Highway Commercial Development Opportunity For Sale
    $355,000

    Highway Commercial Development Opportunity

    10-acre lot zoned C4, suitable for various commercial uses.

    906 Boone Dr, Phenix City, AL 36867
    View Listing
    Property ID
    US03-1841810
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 906 Boone Dr

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    This 10-acre Lot is Zoned C4, Highway Commercial, and is aDevelopment Opportunity for a Construction Office, Trucking or Apartments.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Phenix City
    County
    Lee
    State
    Alabama
    Longitude
    -85.016846
    Latitude
    32.46012

    Comparable in this City

    • Contact for pricing

      Commercial Land Near Home Depot

      1.5+/- acre commercial land for retail or restaurant development.
      20 Lee Road 307, Phenix City, AL 36867
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    • $165,000
      0.86 Acres

      Phenix City Land Parcel

      Land parcel available in Phenix City, Alabama.
      1010 14Th St, Phenix City, AL 36867
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    • $299,950
      1.50 Acres

      Phenix City Commercial Land Opportunity

      1.5 acre corner lot near Home Depot. Commercial zoning.
      20 Lee Road 307, Phenix City, AL 36867
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    • $100,000
      0.37 Acres

      Commercial Land Near Downtown

      Commercial land in high-traffic area near downtown Phenix City.
      1614 Broad Street Ext, Phenix City, AL 36867
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    • Contact for pricing
      0.13 Acres

      Prime Corner Parcel in Phenix

      High-exposure land with flexible development potential in a growing corridor.
      1701 Broad Street Ext, Phenix City, AL 36867
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    • $450,000
      1.20 Acres

      Commercial Land in Phenix City

      Two lots ideal for retail or office in Phenix City.
      421 431 Byp, Phenix City, AL 36867
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land Near Home Depot

      1.5+/- acre commercial land for retail or restaurant development.
      20 Lee Road 307, Phenix City, AL 36867
      View Details
    • $165,000
      0.86 Acres

      Phenix City Land Parcel

      Land parcel available in Phenix City, Alabama.
      1010 14Th St, Phenix City, AL 36867
      View Details
    • $299,950
      1.50 Acres

      Phenix City Commercial Land Opportunity

      1.5 acre corner lot near Home Depot. Commercial zoning.
      20 Lee Road 307, Phenix City, AL 36867
      View Details
    • $100,000
      0.37 Acres

      Commercial Land Near Downtown

      Commercial land in high-traffic area near downtown Phenix City.
      1614 Broad Street Ext, Phenix City, AL 36867
      View Details
    • Contact for pricing
      0.13 Acres

      Prime Corner Parcel in Phenix

      High-exposure land with flexible development potential in a growing corridor.
      1701 Broad Street Ext, Phenix City, AL 36867
      View Details
    • $450,000
      1.20 Acres

      Commercial Land in Phenix City

      Two lots ideal for retail or office in Phenix City.
      421 431 Byp, Phenix City, AL 36867
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2 SF

      Pad-Ready Retail Sites Available

      Highly visible retail sites in a strong, anchored center.
      5412 Summerville Rd, Phenix City, AL 36867
      View Details
    • $3,650 /Mo
      5,227 SF

      Renovated Office Space Available

      Move-in ready office space with modern amenities and ample parking.
      3701 18Th Ave, Phenix City, AL 36867
      View Details
    • Contact for pricing

      Phenix City Office Building

      Well-maintained office building with convenient access and ample parking.
      5009 River Chase Dr, Phenix City, AL 36867
      View Details
    • Contact for pricing

      Phenix City Office Suites Available

      Office suites available in Phenix City, near Columbus, GA.
      806 13Th St, Phenix City, AL 36867
      View Details
    • $10 SF/Yr
      122,139 SF

      Prime Retail Location on U.S. 280

      Excellent visibility and accessibility in a high-traffic area.
      1417 S 280 Byp, Phenix City, AL 36867
      View Details
    • Contact for pricing

      Class A Medical Office Building

      Medical office space for rent in Phenix City, Alabama.
      1810 Stadium Dr, Phenix City, AL 36867
      View Details
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    Phenix City, AL 36867
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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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