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

    Governors Dr Huntsville, AL 35801

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Proposed mixed-use development with retail and Class A office space.

    Property size:
    17,000 SF
    Lot size:
    0.06 Acres

    Property Features for Governors Dr

    General Information

    Size
    17,000 SF
    Lot size
    0.06 Acres

    We can help!

    Listing Contact
    Alex Samples
    Alex Samples
    Source: Moodyscre

    Listing Agency: Samples Properties Listing Agent: Alex Samples

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

    Learn more

    Property Insight Report

    Overview

    Mixed-Use Development in Huntsville, AL

    This proposed mixed-use development is located on Governors Drive in Huntsville, Alabama. The property features approximately 4,400 square feet of retail space on the first floor and 17,000 square feet of Class A office space on the second floor. The development includes a covered ground-level parking garage and large windows providing natural light. The property is directly across the street from the proposed $260M "Mill Creek" Choice Neighborhood Initiative development and borders the Low Mill Entertainment District.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.577904
    Latitude
    34.719616

    Nearby Similar for Lease

    • $3,000 /Mo
      4,000 SF

      Huntsville Commercial Space with Shop

      Office and shop space available for lease in Huntsville.
      2908 Meridian St, Huntsville, AL 35810
      View Details
    • $1,500 /Mo
      5,472 SF

      Huntsville Office Condo For Lease

      Second floor office condo featuring private offices and shared amenities.
      2313 Market Pl, Huntsville, AL 35801
      View Details
    • $15,000 /Mo
      14,000 SF

      Downtown Huntsville Flexible Office Space

      Flexible office space in downtown Huntsville, from 150 to 7,000 SF.
      800 Clinton Ave E, Huntsville, AL 35801
      View Details
    • $7,318 /Mo
      3,818 SF

      Huntsville Commercial Space For Rent

      Medical/Retail/Office space with excellent visibility and central location.
      4550 University Dr, Huntsville, AL 35816
      View Details
    • $1,700 /Mo
      1,988 SF

      Huntsville Office Space For Lease

      Two-story office building with available suites for lease.
      1775 Jeff Rd, Huntsville, AL 35806
      View Details
    • $1,500 /Mo
      2,296 SF

      Huntsville Office Space For Lease

      Two-story office building with available suites and detached garage.
      1775 Jeff Rd, Huntsville, AL 35806
      View Details
    • $18,333 /Mo
      11,000 SF

      Huntsville Office Space For Lease

      New office building with suites available for lease.
      641 Wynn Dr, Huntsville, AL 35816
      View Details
    • $600 /Mo
      7,500 SF

      Huntsville Office Space For Rent

      Office space for rent with utilities and internet included.
      3113 Ivy Ave, Huntsville, AL 35805
      View Details
    • $1.00 SF/Yr
      15,000 SF

      Huntsville Retail or Office Space

      High-visibility commercial building suitable for retail or office use.
      6485 University Dr NW, Huntsville, AL 35806
      View Details
    • $1,200 /Mo
      2,639 SF

      Huntsville Retail Space Available

      Spacious retail property ideal for salon/barbershop in Huntsville, AL.
      2504 Oakwood Ave NW, Huntsville, AL 35811
      View Details
    • $2,200 /Mo
      5,600 SF

      Huntsville Commercial Space For Rent

      Ground-floor commercial space suitable for office or service-based business.
      2311 Market Pl, Huntsville, AL 35801
      View Details
    • $1,250 /Mo
      1,400 SF

      Huntsville Commercial Space Available Now

      High-visibility commercial space with open layout, kitchen, and parking.
      1920 Sparkman Dr, Huntsville, AL 35816
      View Details

    FAQs

    What type of property is this?
    Office units - Proposed mixed-use development with retail and Class A office space.
    Where is this office units located?
    The property is located at Governors Dr Huntsville, AL.
    What are key features of this property?
    This property features: - Prime location on Governors Drive in Huntsville.; - Directly across from the proposed $260M "Mill Creek" development.; - Borders the Low Mill Entertainment District.
    (256) 533-0003 Call to check price and availability
    Request Owner's contact information
    Governors Dr Huntsville, AL 35801
    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.
    Governors Dr
    Huntsville, AL 35801
    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
    Governors Dr Huntsville, AL 35801
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Alex Samples
    Alex Samples
    (256) 533-0003
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!