Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Tuscaloosa Office Building For Lease Title is generated by Realmo AI

    515 Hargrove Rd E, Tuscaloosa, AL 35401

    View on Map
    Claim this Listing
    For Lease
    $3,800/Mo $19 SF/Yr (calc)

    Centrally located office building near university and downtown Tuscaloosa.

    Property size:
    2,328 SF
    Added:
    Jul 29, 2025
    Days on Market:
    309
    Last Refresh:
    May 25 at 9:46 pm

    Property Features for 515 Hargrove Rd E

    General Information

    Standard status
    Active
    Size
    2,328 SF

    We can help!

    Listing Contact
    Charles Holliman
    Charles Holliman

    Listing agent Charles Holliman

    Listing office Pritchett Moore Real Estate

    Listing date Jul 29, 2025

    Source Exprealty

    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 Pritchett Moore Real Estate

    HighLights

    • Centrally located to the University and Downtown.
    • Total of 8 offices wired for phone, high‑speed internet, and cable.
    • Conference room features granite bar with fridge and private bath.
    • 10 Plus Parking Spaces.
    • Kitchen with granite countertops and custom maple cabinetry.
    • Handicap accessible: Handicap restroom and exterior ramp with railing.

    Overview

    This office building, available for lease, is centrally located near the university and downtown area. The property features a brick exterior with hardwood and tile flooring throughout. It includes three tiled bathrooms and a kitchen equipped with granite countertops, custom maple cabinetry, a dishwasher, and a refrigerator. A conference room offers a granite bar with a refrigerator and a private bath. The layout comprises eight offices, each wired for phone, high-speed internet, and cable. Additional features include a large reception area, reception desk, kitchen, handicap restroom, and water fountain. The property provides 10 or more parking spaces. Exterior amenities include a handicap ramp with railing. Two new HVAC systems are planned for 2025. The property is suitable for various business operations.
    Location Intelligence

    Current Use by Public Records

    Pattillo Balance and Hearing ... Hearing Aid Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Tuscaloosa
    County
    Tuscaloosa
    State
    Alabama
    Longitude
    -87.5284883
    Latitude
    33.187371

    Nearby Similar for Lease

    • $2,750/Mo
      3,225 SF

      Tuscaloosa Commercial Building For Lease

      3,225 SF commercial building near downtown Tuscaloosa available for lease.
      1220 Hargrove Road, Tuscaloosa, AL 35401
      View Details
    • $3,465/Mo
      10,396 SF

      Tuscaloosa Warehouse Space Available

      Warehouse space for lease in Tuscaloosa, suitable for various uses.
      2501 17th St, Tuscaloosa, AL 35401
      View Details
    • $2,588/Mo
      1,725 SF

      Tuscaloosa Office Space For Rent

      1,725 SF office suite in multi-tenant strip center.
      4720 University Boulevard, Tuscaloosa, AL 35404
      View Details
    • $5,363/Mo
      16,090 SF

      Tuscaloosa Warehouse/Distribution Space Available

      Functional warehouse/distribution space in Central Tuscaloosa, less than two minutes from I-359.
      2501 17th St, Tuscaloosa, AL 35401
      View Details
    • $1,800/Mo
      1,500 SF

      Tuscaloosa Office Suite For Rent

      Renovated office suite on high-visibility corridor near University of Alabama.
      2110 UNIVERSITY Boulevard E, Tuscaloosa, AL 35404
      View Details
    • $1,879/Mo
      1,326 SF

      Downtown Tuscaloosa Office Space

      Office space for lease in a thriving downtown location.
      919 Greensboro Avenue, Tuscaloosa, AL 35401
      View Details
    • $3,800/Mo
      2,328 SF

      Tuscaloosa Office Building For Lease

      Centrally located office building near university and downtown Tuscaloosa.
      515 HARGROVE Road E, Tuscaloosa, AL 35401
      View Details
    • $2,458/Mo
      1,639 SF

      Functional Office Space in Tuscaloosa

      Comfortable and functional office space with ample parking.
      514 Hargrove Road, Tuscaloosa, AL 35401
      View Details
    • $4,800/Mo
      3,000 SF

      Downtown Tuscaloosa Office Space

      Office space with high visibility and revitalization neighborhood.
      1600 Greensboro Avenue, Tuscaloosa, AL 35401
      View Details
    • $3,000/Mo
      1,449 SF

      Remodeled Office Building in Tuscaloosa

      Remodeled office building with three offices, kitchen, and parking.
      514 Lurleen Wallace Boulevard S, Tuscaloosa, AL 35401
      View Details
    • $5,000/Mo
      6,000 SF

      Tuscaloosa Retail Space Available

      6000 SF retail space in high-traffic Tuscaloosa location.
      4628 University Boulevard, Tuscaloosa, AL 35404
      View Details
    • $4,000/Mo
      1,200 SF

      Retail Space on McFarland Boulevard

      Retail space for lease with high traffic and ample parking.
      1825 Mcfarland Boulevard, Tuscaloosa, AL 35476
      View Details

    FAQs

    What type of property is this?
    Office building - Centrally located office building near university and downtown Tuscaloosa.
    Where is this office building located?
    The property is located at 515 Hargrove Rd E Tuscaloosa, AL.
    What is the lease rate?
    The lease rate is $3,800 /Mo.
    What are key features of this property?
    This property features: Centrally located to the University and Downtown.; Total of 8 offices wired for phone, high‑speed internet, and cable.; Conference room features granite bar with fridge and private bath.
    (205) 792-0887
    We can help!
    Listing Contact
    Charles Holliman
    Charles Holliman
    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

    Thank You for Inquiry
    515 Hargrove Rd E, Tuscaloosa, AL
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!