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

    Highway 724, AL

    • Outlet malls
    • 8,750 SF
    • 2.07 lot acres
    OFF-MARKET
    Last Sale
    Dec 03, 2020
    $55,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1670047
    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

    • Outlet malls

    Property Details for Highway

    Year built
    1989
    Lot size
    2.07 lot acres
    Property size
    8,750 SF
    Property type
    Outlet malls
    APN
    01 08 34 0 000 015.0000
    APU
    1083400000150000

    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
    724
    County
    Franklin
    State
    Alabama
    Longitude
    -87.573
    Latitude
    34.4807

    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
    $1,588
    $2,160
    $44,840
    $47,000
    -
    $0.00
    $0.00
    $235,000

    Comparable in this City

    • Value Estimation
      $1,380,000
      13,220 SF

      11th Ave

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    • Value Estimation by Request
      12,283 SF

      Broad St, AL

      WHOLESALE OUTLET, DISCOUNT STORE • 12,283 SF
      Broad St, AL
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    • Value Estimation by Request
      5,000 SF

      Vlg Vw Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 5,000 SF
      Vlg Vw Rd, Russellville, AL
      View Details
    • Value Estimation by Request
      7,500 SF

      Highway

      WHOLESALE OUTLET, DISCOUNT STORE • 7,500 SF
      Highway, 724, AL
      View Details
    • Value Estimation by Request
      4,040 SF

      Al Hwy 69

      WHOLESALE OUTLET, DISCOUNT STORE • 4,040 SF
      Al Hwy 69, S, AL
      View Details
    • Value Estimation by Request
      1,168 SF

      S

      WHOLESALE OUTLET, DISCOUNT STORE • 1,168 SF
      S, Quintard Ave, AL
      View Details

    Similar Nearby for Sale

    • $2,900,000
      12,000 SF

      Thriving Strip Mall on Highway

      Fully occupied 12,000 SF strip mall on Highway 59.
      3820-3840 Al-59, Foley, AL
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    • $2,490,000
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      Highway 59 Commercial Opportunity

      Large commercial property with high visibility and growth potential.
      14809 Alabama 59, Foley, AL
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    • $2,200,000
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      Fairhope Commercial Parcels on Highway

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    • $1,290,000
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      Foley Commercial Property For Sale

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    • $1,700,000

      Highway 59 Frontage Land

      Land with frontage on Highway 59 in Foley, Alabama.
      8437 Al-59, Foley, AL
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    • $750,000

      Highway 31 Commercial Opportunity

      Vacant building and leased auto garage on Highway 31.
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    Similar Nearby for Lease

    • $13 SF/Yr
      5,082 SF

      Retail Space in Bellingrath Crossroads

      Retail or office spaces available in well-maintained shopping center.
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    • Contact for pricing
      32,938 SF

      Retail Space in Covington Mall

      Retail space available in Andalusia's main retail corridor.
      156 Covington Mall Dr, Andalusia, AL
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    • $14 SF/Yr
      1,000 SF

      Retail Space in Theodore, AL

      Retail space for lease in a busy shopping center.
      7272 Theodore Dawes Rd, Theodore, AL
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    • $18 SF/Yr
      1,138 SF

      Retail Space on US Hwy 98

      Retail space available in Magnolia Square Shopping Center.
      25325 Us-98, Daphne, AL
      View Details
    • $4,500 /Mo
      4,000 SF

      Retail Strip Center on County Road

      Six-suite retail strip center with flexible leasing options.
      9481 Co Rd, Fairhope, AL
      View Details
    • $15 SF/Yr
      3,994 SF

      Retail Space in Eastern Shore

      Premier retail location available for short-term rental.
      30500 Hwy, Spanish Fort, AL
      View Details
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    724, AL
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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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