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    9240 Highway 119 Alabaster, AL 35007
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    9240 Highway 119 Alabaster, AL 35007

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    • Commercial land
    For Sale
    $699,000
    View Listing →
    Highway 119 Corner Lot For Sale
    $699,000

    Highway 119 Corner Lot

    Corner lot ideal for retail development in a growing area.

    9240 Hwy 119, Alabaster, AL 35007
    View Listing
    Property ID
    US03-1606606
    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 9240 Highway 119

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Rare Opportunity on Highway 119 .92 +,- Acre Corner Lot. 302’ +,- Frontage on Hwy 119 / 120’ - 150’ +.- deep. Level topography. 4 way signalized intersection. Ideal for development. Zoned B-3 Community Business/119 Overlay District Zoning allows minimum setbacks. Highly visible from Hwy 119 and Hwy 12 Easy access from Hwy 119 and Hwy 12 Across Hwy 119 is Wal-Mart Grocery Across Hwy 12 is Publix Center Surrounded by retail business. One of Shelby County’s fastest growing areas. Money Magazine called Alabaster Top 50 cities to Live in America 2020 Low Property Taxes High Traffic Growth corridor Ideal for Retail Development None of the Property encroaches the Cemetery.

    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
    Alabaster
    County
    Shelby
    State
    Alabama
    Longitude
    -86.8263355
    Latitude
    33.2139577

    Comparable in this City

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      Commercial Land on Highway 119

      1.5-acre commercial property suitable for retail or fast food.
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      Highway 119 Commercial Land

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      Highway 119 Commercial Land

      1.59 acres ideal for commercial redevelopment or QSR.
      8174 Highway 119, Alabaster, AL 35007
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      Commercial Lot in Alabaster

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      Alabaster Land For Sale

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    Similar Nearby for Sale

    • $650,000
      2.33 Acres

      Commercial Lots on Butler Road

      Two commercial lots totaling 4.6 acres in Alabaster, Alabama.
      2022 Butler Rd, Alabaster, AL 35007
      View Details
    • $199,900

      Commercial Land on Highway 119

      1.5-acre commercial property suitable for retail or fast food.
      8452 Highway 119, Alabaster, AL 35007
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    • $900,000
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      Highway 119 Commercial Land

      B-3 zoned commercial land near new Thompson High School.
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      Highway 119 Commercial Land

      1.59 acres ideal for commercial redevelopment or QSR.
      8174 Highway 119, Alabaster, AL 35007
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      Commercial Lot in Alabaster

      Commercial property suitable for retail, medical, or restaurant use.
      251 S 1St St, Alabaster, AL 35007
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    • $699,000

      Alabaster Land For Sale

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    Similar Nearby for Lease

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      Commercial Land Near Highway 31

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      Land Available Near Shelby Hospital

      Prime commercial land for ground lease or build to suit.
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      4,500 SF

      Freestanding Office Warehouse For Lease

      Freestanding office warehouse with yard area available for lease.
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      Office Warehouse Opportunity For Rent

      Office and warehouse space available in a prime location.
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      Retail Space in Alabaster Hub

      9,775 SF retail space in a growing Alabaster hub.
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      Medical Office Space Near Hospital

      Medical office space directly across from Baptist Shelby Medical Center.
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    View Listing
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    9240 Highway 119
    Alabaster, AL 35007
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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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