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    Value-Add Retail Asset Opportunity Title is generated by Realmo AI

    3780 Riverchase Village, Hoover, AL 35244

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    Value-add retail asset in Birmingham's dynamic submarket.

    Type:Retail
    Property size:
    176,211 SF
    Added:
    May 26, 2026
    Days on Market:
    7
    Last Refresh:
    May 27 at 8:26 am

    Property Features for 3780 Riverchase Village

    General Information

    Standard status
    Active
    Size
    176,211 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1980

    We can help!

    Listing Contact
    Jim Hamilton

    Listing agent Jim Hamilton License #GA 270038

    Listing office JLL - Atlanta, Georgia

    Listing date May 26, 2026

    Source Crexi

    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 JLL - Atlanta, Georgia

    HighLights

    • Value‑add retail asset in Birmingham's most affluent submarket.
    • Located in Hoover, Alabama's #1 most visited retail node with 22.2 million annual visits.
    • Immediate upside potential through leasing, outparcel development, and shop densification.
    • Anchored by high‑performing tenants including Alabama's #2 most visited Best Buy.
    • Tenants demonstrate exceptional performance with average sales exceeding $564 PSF and a weighted average tenure of 28+ years.
    • Exceptional access via a pin corner location with direct connectivity to I‑459 and 65,000 vehicles per day.

    Overview

    Riverchase Village presents a unique investment opportunity as a value-add retail asset. The property is strategically positioned within Birmingham's most affluent and dynamic submarket, specifically in Hoover, Alabama's top retail destination. Benefiting from 22.2 million annual visits, Riverchase Village offers exceptional accessibility due to its pin corner location with direct connectivity to I-459 and a daily traffic volume of 65,000 vehicles. Currently at 65% occupancy, the property provides immediate upside potential through three value creation strategies: leasing the existing 62,547 square feet of vacancy, outparcel development, and inline shop densification. These strategies support a near $1.7 million net operating income increase and a compelling 12.6% five-year compound annual growth rate. Anchored by high-performing tenants, including Alabama's second most visited Best Buy and a top 37% PetSmart, Riverchase Village is complemented by national tenants such as Chicken Salad Chick, Nothing Bundt Cakes, and Newk's Eatery. Tenants demonstrate exceptional performance, with average sales exceeding $564 per square foot and a weighted average tenure of over 28 years. The surrounding trade area exhibits remarkable strength, featuring Alabama's most visited Home Depot and Costco locations, alongside consistent leasing momentum throughout the immediate retail corridor. The property size is 176,211 square feet.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center 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

    • Sunglass Hut — 2000 Galleria Cir, Hoover, AL 35244
    • Riverchase Village — 3780 Riverchase Village, Hoover, AL 35244
    • ecoATM — 3000 Galleria Cir, Birmingham, AL 35244
    • Galleries At Riverchase — 3075 John Hawkins Pkwy, Hoover, AL 35244
    • The Plaza At Riverchase — Montgomery Hwy, Hoover, AL 35244

    Location Insight

    • Map
    • Local Demand
    City
    Hoover
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.8007288
    Latitude
    33.3772969

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    FAQs

    What type of property is this?
    Shopping center - Value-add retail asset in Birmingham's dynamic submarket.
    Where is this shopping center located?
    The property is located at 3780 Riverchase Village Hoover, AL.
    What are key features of this property?
    This property features: Value‑add retail asset in Birmingham's most affluent submarket.; Located in Hoover, Alabama's #1 most visited retail node with 22.2 million annual visits.; Immediate upside potential through leasing, outparcel development, and shop densification.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jim Hamilton
    Real Estate License ID: GA 270038
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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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