Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Highway 31 Bay Minette, AL 36507
    Back to Search
    Property profile & analytics

    Highway 31 Bay Minette, AL 36507

    View on Map
    • Commercial land
    • 5,028 SF
    • 0.91 lot acres
    For Sale
    $679,000
    View Listing →
    3.44 Acres Land For Sale - Bay Minette Parcel For Sale
    $679,000
    149,846 SF

    3.44 Acres Land For Sale - Bay Minette Parcel

    3.44 Acres Land For Sale - Bay Minette Parcel

    Highway 31, Bay Minette, AL 36507
    View Listing
    Property ID
    US03-0029333
    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
    6.8%
    Commercial land
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for Highway 31

    Year built
    1986
    Lot size
    0.91 lot acres
    Property size
    5,028 SF
    Property type
    Commercial land
    APN
    23-05-16-2-001-031.002
    APU
    2305162001031002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $685,000
      ML approach
      $690,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $775,000
      6.5%
      $715,000
      7%
      $665,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $694,000
      Market price range: $165k - $746k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $830,000
      Current use
      MEDICAL BUILDING
      $985,000
      Change: +19% Conversion: Easy
      OFFICE BUILDING
      $915,000
      Change: +10% Conversion: Easy
      RETAIL STORES
      $845,000
      Change: +2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bay Minette
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.7848
    Latitude
    30.879
    CBSA code
    19300
    CBSA name
    DAPHNE-FAIRHOPE, AL MICROPOLITAN 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
    $3,203
    $65,360
    $8,040
    $73,400
    -
    $326,800
    $40,200
    $367,000

    Comparable in this City

    • Value Estimation by Request
      3.80 Acres

      Jaycee Rd

      VACANT COMMERCIAL LAND • 3.80 Acres
      Jaycee Rd, Bay Minette, AL 36507
      View Details
    • Value Estimation by Request
      0.50 Acres

      45480 Lac Rd

      VACANT COMMERCIAL LAND • 0.50 Acres
      45480 Lac Rd, Bay Minette, AL 36507-7480
      View Details
    • Value Estimation by Request
      0.40 Acres

      Mcmillan Ave

      VACANT COMMERCIAL LAND • 0.40 Acres
      Mcmillan Ave, Bay Minette, AL 36507
      View Details
    • Value Estimation by Request
      0.40 Acres

      Medical Ctr Dr

      VACANT COMMERCIAL LAND • 0.40 Acres
      Medical Ctr Dr, Bay Minette, AL 36507
      View Details
    • Value Estimation by Request
      0.33 Acres

      Medical Ctr Dr

      VACANT COMMERCIAL LAND • 0.33 Acres
      Medical Ctr Dr, Bay Minette, AL 36507
      View Details
    • Value Estimation by Request
      7.80 Acres

      Nicholsville Rd

      VACANT COMMERCIAL LAND • 7.80 Acres
      Nicholsville Rd, Bay Minette, AL 36507
      View Details

    Similar Nearby for Sale

    • $899,900

      Corner Lot Near Novelis Plant

      Corner lot at entrance to Novelis aluminum plant.
      49640 Rabun Rd, Bay Minette, AL 36507
      View Details
    • $600,000

      Commercial Land Near Baldwin School

      Prime commercial land with highway frontage near high school.
      1 State Highway 59, Bay Minette, AL 36507
      View Details
    • $600,000

      Unzoned Land Near Interstate 65

      Commercial land near I-65 and Novelis plant, outside city limits.
      15243 Shipp Rd, Bay Minette, AL 36507
      View Details
    • $500,000

      Unzoned Corner Lot on Highway

      0.74-acre commercial development land in a fast-growing area.
      48980 Rabun Rd, Bay Minette, AL 36507
      View Details
    • $338,000
      5.50 Acres

      Land Near Faulkner Community College

      Cleared land with highway frontage near I-65 and I-10.
      106 Us Highway 31, Bay Minette, AL 36507
      View Details
    • $2,900,000
      10.77 Acres

      Prime Land on St Hwy 59

      10.7 acres on St Hwy 59, Bay Minette, AL
      St Hwy 59, Bay Minette, AL 36507
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      1,153,469 SF

      Bay Minette Industrial Land

      Prime Baldwin County lots, build-to-suit options.
      St 287 highway, Bay Minette, AL 36507
      View Details
    • $3,000 /Mo
      130,680 SF

      Prime Bay Minette Industrial Land

      Three-acre paved yard, ideal for industrial use.
      801 US Highway 31, Bay Minette, AL 36507
      View Details
    • Contact for pricing

      Prime Corner Commercial Land

      Highly visible corner property near Coastal Community College.
      98 Bouler Ave, Bay Minette, AL 36507
      View Details
    • Contact for pricing

      Prime Lots Near Novelis Plant

      Available lots for ground lease or build to suit.
      3 Rabun Rd, Bay Minette, AL 36507
      View Details
    • $10,000 /Mo
      3,375 SF

      Bay Minette Industrial Property For Lease

      5.9-acre trucking facility with 3,375 SF flex space.
      717 Daphne Rd, Bay Minette, AL 36507
      View Details
    • Contact for pricing

      Bay Minette Gas Station Opportunity

      Gas station with tenant, pumps, and steel tanks for sale.
      1130 Us Highway 31, Bay Minette, AL 36507
      View Details
    View Listing
    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.
    Highway 31
    Bay Minette, AL 36507
    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

    Thank You for Inquiry
    Highway 31 , Bay Minette, AL, 36507
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!