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    Established Hoover Building and Business Title is generated by Realmo AI

    3440 Lorna Lane, Hoover, AL 35216

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    For Sale
    $1,300,000

    Established upholstery business and building for sale in Hoover, AL.

    Type:Commercial/Industrial
    Property size:
    11,511 SF
    Price / SF:
    $112/SF
    Added:
    Oct 8, 2025
    Days on Market:
    237
    Last Refresh:
    Apr 7 at 9:24 pm

    Property Features for 3440 Lorna Lane

    General Information

    Standard status
    Active
    Size
    11,511 SF
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1975

    We can help!

    Listing Contact
    Daphney Massey

    Listing agent Daphney Massey License #82245

    Listing office Century 21 Advantage

    Listing date Oct 8, 2025

    Source Exitrealty

    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 Century 21 Advantage

    HighLights

    • Established business since 1976 with existing clientele specializing in automobile upholstery
    • Includes business, inventory, and 11,511 SF building in Hoover
    • Building is zoned light industrial
    • Features a main‑level apartment and a 4,000 SF upstairs space for potential lease income with a separate entrance
    • Newly remodeled 2,280 SF office space with 2 bathrooms
    • Ample parking available for approximately 30 cars

    Overview

    This property features an established business and an 11,511 square foot building for sale in Hoover, Alabama. The business, specializing in automobile upholstery, has been operating since 1976 and has an established client base. The sale includes the business, inventory, and the building, which is zoned for light industrial use. The building includes an apartment on the main level, a 4,000 square foot upstairs area with a separate entrance that can be leased, and parking space for approximately 30 vehicles. The property also features 2,280 square feet of newly remodeled office space with two bathrooms, a 5,047 square foot warehouse/shop space with two bathrooms, and an apartment with one bedroom, living space, a full kitchen, and a full bath. The second level offers additional office space with a restroom and kitchenette. This property presents an opportunity for various business uses.
    Location Intelligence

    Current Use by Public Records

    Flex space

    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

    • L'Chris Catering & Company, LLC — 3439 Lorna Ln, Hoover, AL 35216
    • Jones'N Catering Company LLC — 3439 Lorna Ln, Birmingham, AL 35216
    • Wazo Catering — 3439 Lorna Ln, Hoover, AL 35216

    Location Insight

    • Map
    • Local Demand
    City
    Hoover
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.795273
    Latitude
    33.3934569

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    FAQs

    What type of property is this?
    Flex space - Established upholstery business and building for sale in Hoover, AL.
    Where is this flex space located?
    The property is located at 3440 Lorna Lane Hoover, AL.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Established business since 1976 with existing clientele specializing in automobile upholstery; Includes business, inventory, and **11,511 SF building** in Hoover; Building is zoned light industrial
    (205) 965-7733
    We can help!
    Listing Contact
    Daphney Massey
    Real Estate License ID: 82245
    Learn More
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    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.

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