Add Listing
    For Lease
    • 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

    Lorna Rd 3141 Vestavia Hills, AL

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $14 SF/Yr

    Office space with elevator access, convenient location, and ample parking.

    Type:OFFICE
    Property size:
    4,500 SF
    Lot size:
    0.98 Acres
    Added:
    Jun 2, 2023
    Days on Market:
    1035
    Last Refresh:
    Mar 29 at 11:13 pm

    Property Features for Lorna Rd 3141

    General Information

    Standard status
    Active
    Size
    4,500 SF
    Lot size
    0.98 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at Lorna Rd 3141 Contact us

    We can help!

    Listing Contact
    Luke Grant
    Luke Grant

    Listing agent Luke Grant License #AL 0150338

    Listing office Southpace Properties

    Listing date Jun 2, 2023

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Southpace Properties

    Overview

    Vestavia Hills Office Space Available

    This office space, available for rent, offers between 3,300 and 4,500 square feet on the second floor, accessible by elevator. The current buildout includes a showroom, reception area, kitchenette, storage room, three private offices, two bathrooms, a conference room, and an open bullpen area. Up to 10 designated parking spaces are available. Pylon signage is also available. The property is situated in a convenient location with access to I-65, I-459, and Highway 31. The traffic count on Lorna Road is 15,000 vehicles per day.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Vestavia Hills
    County
    Shelby
    State
    Alabama
    Longitude
    -86.7853
    Latitude
    33.4204

    Nearby Similar for Lease

    • $15/mo

      Vestavia Hills Retail/Office Space

      Prime retail and office spaces in a thriving commercial corridor.
      2017 Canyon Rd, Vestavia Hills, AL 35216
      View Details
    • $21/mo

      Vestavia Hills Professional Office Suites

      Office suites for lease in a desirable Vestavia Hills location.
      3280, 3284 & 3288 Morgan Drive, Vestavia Hills, AL 35216
      View Details
    • Contact for pricing

      Prime Retail and Office Center

      Retail and office spaces in high-demand, accessible location.
      4911 Cahaba River Road, Vestavia Hills, AL 35243
      View Details
    • Contact for pricing

      Retail Space For Rent

      Retail space available in Vestavia Hills, Alabama.
      2110-2136 Columbiana Road, Vestavia Hills, AL 35216
      View Details
    • $21/mo

      Suburban Office Park Space Available

      Professional office space in a desirable residential and commercial area.
      3280 Morgan Dr, Vestavia Hills, AL
      View Details
    • $21/mo

      Suburban Office Space Available

      Professional office space in a desirable location with on-site parking.
      3288 Morgan Dr, Vestavia Hills, AL
      View Details
    • $18/mo

      Vestavia City Center Office Space

      Office/medical space in mixed-use shopping center, Vestavia Hills, AL.
      700 Montgomery Hwy, Vestavia Hills, AL
      View Details
    • Contact for pricing

      Retail Space in Vestavia Corridor

      New retail/restaurant development in Vestavia's commercial corridor.
      1459 Montgomery Hwy, Vestavia Hills, AL
      View Details
    • Contact for pricing

      Retail Space in Vestavia Corridor

      New retail/restaurant development in Vestavia's commercial corridor.
      1459 Montgomery Hwy, Vestavia Hills, AL 35216
      View Details
    • Contact for pricing

      Vestavia Hills Office/Medical Space

      Office/medical space in a high-demographic, mixed-use shopping center.
      700 Montgomery Hwy, Vestavia Hills, AL 35216
      View Details
    • $27/mo

      Office Building on Highway 280

      Office building with signage and parking on Highway 280.
      3364 Smyer Rd, Vestavia Hills, AL
      View Details
    • Contact for pricing

      Premier Regional Power Center

      Regional power center in dynamic retail market outside Birmingham, Alabama.
      700 Montgomery Hwy, Vestavia Hills, AL 35216
      View Details

    FAQs

    What type of property is this?
    Office units - Office space with elevator access, convenient location, and ample parking.
    Where is this office units located?
    The property is located at Lorna Rd 3141 Vestavia Hills, AL.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Convenient location with access to I‑65, I‑459, and Highway 31; **3,300 - 4,500 SF available**, 2nd floor suite with elevator access; Up to 10 designated parking spaces
    (205) 326-2222
    We can help!
    Listing Contact
    Luke Grant
    Luke Grant
    Real Estate License ID: AL 0150338
    Learn More
    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.
    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.
    Sign Up Successful!
    You now have access to more from Realmo!