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 24 Decatur, AL 35603

    • Retail properties
    • 5,280 SF
    • 3.30 lot acres
    OFF-MARKET
    Value Estimations
    $570,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1671757
    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

    • Retail properties

    Property Details for Hwy 24

    Year built
    2000
    Lot size
    3.30 lot acres
    Property size
    5,280 SF
    Property type
    Retail properties
    APN
    02-09-29-0-000-007.006
    APU
    209290000007006

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $542,000
      Market price range: $175k - $683k
      AI Estimate
      $599,000
      Market price range: $199k - $805k

    • Alternative Use

      Use
      Estimation
      SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
      $440,000
      Current use
      RETAIL STORES
      $565,000
      Change: +28% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $505,000
      Change: +14% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $470,000
      Change: +6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    Morgan
    State
    Alabama
    Longitude
    -87.0765
    Latitude
    34.5781
    CBSA code
    19460
    CBSA name
    DECATUR, 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
    $3,729
    $10,060
    $89,640
    $99,700
    -
    $50,300
    $448,200
    $498,500

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      3023 Hwy 31st S

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,400 SF
      3023 Hwy 31st S, Decatur, AL 35603-1403
      View Details
    • Value Estimation by Request
      2,400 SF

      214 Lenwood SW Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,400 SF
      214 Lenwood SW Rd, Decatur, AL 35603-1666
      View Details
    • Value Estimation by Request
      2,400 SF

      9 Mdw Ln

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,400 SF
      9 Mdw Ln, Decatur, AL 35603-6200
      View Details
    • Value Estimation by Request
      3,825 SF

      3309 Sexton Rd Sea

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,825 SF
      3309 Sexton Rd Sea, Decatur, AL 35603-1448
      View Details
    • Value Estimation by Request
      4,386 SF

      3701 Old Moulton Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,386 SF
      3701 Old Moulton Rd, Decatur, AL 35603-3819
      View Details
    • Value Estimation by Request
      1,040 SF

      301 Austinville Flint SW Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,040 SF
      301 Austinville Flint SW Rd, Decatur, AL 35603-4701
      View Details

    Similar Nearby for Sale

    • $1,349,900
      5,406 SF

      Turnkey Restaurant in Prime Location

      Fully operational restaurant for sale in high-traffic Decatur location.
      2504 Us Highway 31, Decatur, AL 35603
      View Details
    • $2,220,000
      32.00 Acres

      Deere Road Residential Land

      32 Acres, Decatur, Alabama. Prime Development.
      2721 Deere Rd, Decatur, AL 35603
      View Details
    • Contact for pricing
      39.42 Acres

      Decatur Land: 40 Acres, B-2 Zoning

      Prime Decatur development opportunity. High-growth area.
      0 Presbyterian Dr, Decatur, AL 35603
      View Details
    • $209,900
      1,623 SF

      Updated Townhome with New Features

      Move-in ready 3 bed, 3 bath townhome with updated features.
      2202 Westbury Ct Sw, Decatur, AL 35603
      View Details
    • $3,500,000

      Priceville Land For Sale

      20+/- acres suitable for multi-use development in Priceville, AL.
      67 At Robinson St, Decatur, AL 35603
      View Details
    • $2,220,000
      36 SF

      Residential Development Land For Sale

      36.37 acre land parcel ideal for residential development.
      2721 Deere Rd, Decatur, AL 35603
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      36,737 SF

      Retail Space in High Growth Area

      Retail property in a high-growth area with ample parking.
      2914 Mallard Pkwy, Decatur, AL 35603
      View Details
    • $8 SF/Yr
      296,000 SF

      Fairground Rd

      Distribution properties • 296,000 SF
      0 Fairground Rd, Decatur, AL 35603
      View Details
    • $6 SF/Yr
      10,000 SF

      Decatur Industrial Warehouse - 10,000 SF

      Prime Decatur warehouse, excellent access to I-65.
      3702 Indian Hills Rd, Decatur, AL 35603
      View Details
    • $6 SF/Yr
      5,000 SF

      Decatur Industrial Space For Rent

      5,000 SF industrial space in Decatur, Alabama available for lease.
      3624 Indian Hills Rd SE, Decatur, AL 35603
      View Details
    • $4,125 /Mo
      10,000 SF

      Decatur Warehouse Near I-65

      10,000 SF warehouse with office space near I-65.
      3702 Indian Hills Rd Southeast, Decatur, AL 35603
      View Details
    • $8,500 /Mo

      Warehouse and Office Space Available

      17,000 sq ft warehouse with office space for lease.
      1203 Pisgah Rd Se, Decatur, AL 35603
      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 24
    Decatur, AL 35603
    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.