Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1615 Montgomery Hwy Hoover, AL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space with national tenants and high traffic volume.

    Type:RETAIL
    Property size:
    16,604 SF
    Lot size:
    10.94 Acres
    Added:
    Jun 26, 2025
    Days on Market:
    309
    Last Refresh:
    Apr 5 at 9:41 pm

    Property Features for 1615 Montgomery Hwy

    General Information

    Standard status
    Active
    Size
    16,604 SF
    Lot size
    10.94 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 1615 Montgomery Hwy Contact us

    We can help!

    Listing Contact
    Wade Robinett
    Wade Robinett

    Listing agent Wade Robinett

    Listing office Colliers | Birmingham

    Listing date Jun 26, 2025

    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 Colliers | Birmingham

    Overview

    Retail Space in Hoover, Alabama

    This retail space is part of a shopping center with a mix of national tenants, including Party City, Walgreens, Dollar Tree, and Burlington. The location benefits from high traffic counts, with over 36,000 vehicles per day on US Highway 31. The surrounding area has a three-mile population of approximately 60,312 residents and an average household income of $80,671. The property includes 905 surface parking spaces, providing a parking ratio of 4.63 spaces per 1,000 square feet. The property is located in Hoover, Alabama.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • The Village on Lorna Shopping Center — 3301-3326 Lorna Rd, Hoover, AL 35216
    • Hoover Place — 1584 Montgomery Hwy, Hoover, AL 35216
    • Hoover Commons — 1615 Montgomery Hwy, Hoover, AL 35216
    • Central Alabama — Lorna Rd, Hoover, AL 35216, United States
    • Patton Chapel Plaza — 1676 Montgomery Hwy, Hoover, AL 35216, United States

    Location Insight

    • Map
    • Local Demand
    City
    Hoover
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.8049
    Latitude
    33.3984

    Nearby Similar for Lease

    • $32 SF/Yr

      Freestanding Former Bank Branch Sublease

      Freestanding +/- 4,500 SF former bank branch with drive-thru.
      5576 Grove Blvd, Hoover, AL 35226
      View Details
    • $12 SF/Yr

      Office Space in Prime Location

      Office space with conference rooms, convenient location, and updated HVAC.
      3585 Lorna Ridge Dr, Hoover, AL 35216
      View Details
    • $15 SF/Yr

      Hoover Office/Warehouse Space Available

      6,000 SF office/warehouse for lease in Hoover.
      509 Mineral Trace, Hoover, AL 35244
      View Details
    • $22 SF/Yr

      Class A Office Space

      Class A office space in mixed-use Riverchase Galleria complex.
      3000 RiverChase, Hoover, AL 35244
      View Details
    • $15 SF/Yr

      Riverchase Office/Retail Space Available

      Office/retail space in Riverchase, close to amenities and highways.
      3821 & 3829 Lorna Rd, Hoover, AL 35244
      View Details
    • $11 SF/Yr

      Hoover Flex Space For Rent

      Flex space with office, dock door, and convenient location.
      3433-3439 Lorna Ln, Hoover, AL 35216
      View Details
    • $19 SF/Yr

      Professional Office Space Available

      Flexible office suites in Hoover, Alabama, with modern conveniences.
      800 Concourse Parkway, Hoover, AL 35244
      View Details
    • $14 SF/Yr

      Office Space in Hoover

      Office suite available for lease in Hoover, Alabama.
      3525 Lorna Ridge Drive, Hoover, AL 35216
      View Details
    • Contact for pricing

      Riverchase Galleria Retail Opportunity

      Two-level, 146,000 SF space in a major shopping center.
      2500 Galleria Cir, Hoover, AL 35244
      View Details
    • $15 SF/Yr

      Lorna Road Retail Spaces

      Retail spaces available for lease on Lorna Road.
      3081 Lorna Road , Hoover, AL 35216
      View Details
    • $19 SF/Yr

      Office and Medical Suites Available

      Office and medical suites for lease with lake views.
      100 Concourse Parkway, Hoover, AL 35244
      View Details
    • Contact for pricing

      Office and Medical Suites Available

      Office and medical suites for lease in Hoover, Alabama.
      100 Concourse Parkway, Hoover, AL 35244
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space with national tenants and high traffic volume.
    Where is this shopping center located?
    The property is located at 1615 Montgomery Hwy Hoover, AL.
    What are key features of this property?
    This property features: Array of national tenants including Party City, Walgreens, Dollar Tree, and Burlington; High traffic counts: **36,000 +VPD on US Highway 31**; Three‑mile population of +/-60,312
    (205) 445-0955 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Wade Robinett
    Wade Robinett
    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!