3815 Interstate CtMontgomery, AL 36109

Property Details for 3815 Interstate Ct

Year built

1974

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.00 AC

Property size (Sq ft)

44,943 SF

Zone code

B-1-B

Property type

Office buildings

APN

10-05-15-4-009-022.000

APU

1005154009022000

Description

This four-story, 51,080-square-foot office building in Montgomery, Alabama, presents a compelling value-add opportunity. Located on Interstate Court, it offers convenient access to I-85 and other major highways, ensuring easy citywide access. Built in 1974 and renovated in 2015, the property boasts a 2.08-acre lot and features a functional floor plan suitable for single or multi-tenant occupancy. The building includes multiple access points, a central elevator and restroom corridor, and an open lobby. Interior spaces comprise conference rooms, perimeter offices, and expansive open areas with abundant natural light. Recent improvements, totaling approximately $200,000, encompass a new TPO roof, upgraded carpeting, and elevator modernization. Currently vacant, this property offers a pro-forma NOI of $490,361 and a pro-forma cap rate of 16.62%, with an asking price of $2,650,000. Its prominent location near shopping, dining, hotels, and services enhances its appeal. The efficient layout and high-quality finishes make it an ideal investment for owner-users or developers seeking a redevelopment project.

• CAP approach

  CAP return

  Valuation

  6%

  $5,822,146

  6.5%

  $5,374,290

  7%

  $4,990,412

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,766,582

  Geo Method

  $8,766,582

• Alternative Use

  Use

  Valuation

  Residential

  $6,664,118

  Hospitality

  $6,104,297

  Educational

  $5,078,704

  Medical

  $5,253,368

  Retail

  $7,900,205

Location Insight

City

Montgomery

County

Montgomery

State

Alabama

Latitude

32.3605

Longitude

-86.2458

CBSA code

33860

CBSA name

MONTGOMERY, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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