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

    Hwy 231 Montgomery, AL 36116

    • Commercial land
    • 0.96 lot acres
    OFF-MARKET
    Last Sale
    Dec 05, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1838206
    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

    • Commercial land

    Property Details for Hwy 231

    Lot size
    0.96 lot acres
    Zone code
    B-3
    Property type
    Commercial land
    APN
    10-07-35-3-002-005.000
    APU
    1007353002005000

    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
    Montgomery
    County
    Montgomery
    State
    Alabama
    Longitude
    -86.2379
    Latitude
    32.3222
    CBSA code
    33860
    CBSA name
    MONTGOMERY, 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
    $1,420
    $29,280
    $0.00
    $29,280
    -
    $146,400
    $0.00
    $146,400

    Comparable in this City

    • Value Estimation by Request
      0.86 Acres

      3736 Malcolm Dr

      VACANT COMMERCIAL LAND • 0.86 Acres
      3736 Malcolm Dr, Montgomery, AL 36116-8918
      View Details
    • Value Estimation by Request
      25.10 Acres

      Park Crossiing

      VACANT COMMERCIAL LAND • 25.10 Acres
      Park Crossiing, Montgomery, AL 36116
      View Details
    • Value Estimation by Request
      0.50 Acres

      Park Blvd

      VACANT COMMERCIAL LAND • 0.50 Acres
      Park Blvd, Montgomery, AL 36116
      View Details
    • Value Estimation by Request
      0.84 Acres

      5371 Pkwy Loop

      VACANT COMMERCIAL LAND • 0.84 Acres
      5371 Pkwy Loop, Montgomery, AL 36116-5182
      View Details
    • Value Estimation by Request
      1.00 Acres

      3206 Parliament Cir

      VACANT COMMERCIAL LAND • 1.00 Acres
      3206 Parliament Cir, Montgomery, AL 36116-7272
      View Details
    • Value Estimation by Request
      0.49 Acres

      5311 Perimeter Pkwy

      VACANT COMMERCIAL LAND • 0.49 Acres
      5311 Perimeter Pkwy, Montgomery, AL 36116-5125
      View Details

    Similar Nearby for Sale

    • $198,000
      37.00 Acres

      Land on Narrow Lane Road

      37-acre land parcel in Montgomery, Alabama, for development.
      6931 Narrow Lane Rd, Montgomery, AL 36116
      View Details
    • $95,000
      44.10 Acres

      44 Acres in Montgomery, AL

      44 acres of land with PUD designation in Montgomery.
      Sherburn Rd, Montgomery, AL 36116
      View Details
    • Contact for pricing

      Montgomery Commercial Land - 1.3 Acres

      High-visibility land, ideal for development.
      2385 South Blvd, Montgomery, AL 36116
      View Details
    • $950,000
      38.90 Acres

      Montgomery Land: 38.9 Acres PUD

      Prime Montgomery development land, ideal for residential.
      0 Taylor Rd, Montgomery, AL 36116
      View Details
    • $1,800,000
      15.00 Acres

      Prime Montgomery Commercial Land

      15 Acres, B-3 Zoning, Hwy 231 Frontage
      6054 Taylor Rd, Montgomery, AL 36116
      View Details
    • $356,831
      188.60 Acres

      Hunter's Paradise: 188 Acres

      Prime Hunting Land near Montgomery, AL
      231/Troy Hwy At Taylor Rd, Montgomery, AL 36116
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      25,200 SF

      Halcyon Village Retail Center

      Prime Montgomery Retail Space - Two Units Available
      7825 Vaughn Rd, Montgomery, AL 36116
      View Details
    • Contact for pricing
      190,554 SF

      Governor Square Retail Center

      Montgomery, AL Shopping Center - 87,342 SF Available
      2681 South Blvd, Montgomery, AL 36116
      View Details
    • $16 SF/Yr
      18,200 SF

      Billingsley Promenade Retail Space

      East Montgomery retail center, 3,443 sq ft available.
      3441 Malcolm Dr, Montgomery, AL 36116
      View Details
    • $7 SF/Yr
      63,334 SF

      Crescent Center Office Suites

      Montgomery, AL Executive Office Space
      2400 Presidents Dr, Montgomery, AL 36116
      View Details
    • Contact for pricing
      10,000 SF

      Montgomery Commons Retail Space

      High-traffic retail center, 3,700 SF available
      3889-3897 Eastern Blvd, Montgomery, AL 36116
      View Details
    • $12 SF/Yr
      6,000 SF

      Vaughn Road Office Space Available

      Montgomery Office: 6,000 sq ft, 25 parking spaces
      5295 Vaughn Rd, Montgomery, AL 36116
      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.
    Hwy 231
    Montgomery, AL 36116
    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.