Add Listing
    For Sale
    • 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

    6336 FARLEY LANE Hoover, AL 35242

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,950,000

    Prime commercial land in Lee Branch shopping center, Hoover, AL.

    Lot size:
    11.00 Acres
    Added:
    Aug 25, 2024
    Days on Market:
    602
    Last Refresh:
    Apr 1 at 8:41 pm

    Property Features for 6336 FARLEY LANE

    General Information

    Standard status
    Active
    Lot size
    11.00 Acres
    Property subtype
    Other

    We can help!

    Listing Contact
    Hanna Salter

    Listing agent Hanna Salter

    Listing office

    Listing date Aug 25, 2024

    Source Xome

    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 Hanna Salter

    Overview

    Lee Branch Commercial Land

    This property features over 11 acres of commercial land available for sale, situated in the Lee Branch shopping center in Hoover, Alabama. The land is currently zoned C-2, designated for retail and office district use. It is conveniently located near Highway 280, providing easy access to local shopping, dining, and recreational facilities. The property also borders residential areas. It is suitable for establishing a multi-business hub with a community green space.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Hoover
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.7086
    Latitude
    33.3752

    Nearby Similar for Sale

    • $375,000

      Residential Land in Greystone Founders

      3.6 acre homesite in premier Birmingham community.
      7011 MONTROSE ROAD, HOOVER, AL 35242
      View Details
    • $46,000

      Residential Lot in Hoover, AL

      0.53 acre lot zoned for top schools.
      4754 SANDPIPER LANE, HOOVER, AL 35244
      View Details
    • $429,000

      Greystone Golf Community Lot

      Residential lot in gated Greystone Golf Community.
      1053 GREYMOOR ROAD, HOOVER, AL 35242
      View Details
    • $159,575

      Residential Lots in Bluff Park

      Large, level lots in historic Bluff Park community.
      3421 SMITH FARM DRIVE, HOOVER, AL 35226
      View Details
    • $139,900

      Residential Lot in Bluff Park

      Cleared residential lot in Hoover's desirable Bluff Park neighborhood.
      1022 ALFORD AVENUE, HOOVER, AL 35226
      View Details
    • $29,900

      Sunset View Land in Hoover

      Pristine 0.98-acre land with sunset views in award-winning school district.
      3996 SOUTH SHADES CREST ROAD, HOOVER, AL 35244
      View Details
    • $279,000

      Prime Land in Hoover, AL

      1.2 acres near Lorna Rd, suitable for development.
      2159 OLD ROCKY RIDGE ROAD, HOOVER, AL 35216
      View Details
    • $609,900
      4,906 SF

      Multi-Unit Office Building For Sale

      Well-located office building with significant rent repositioning upside.
      2173 Clearbrook Road, HOOVER, AL 35226
      View Details
    • $39,000

      Wooded Lots in Shadesville Subdivision

      Three wooded lots totaling approximately 0.48 acres in Hoover, AL.
      1847 WISTERWOOD DRIVE, HOOVER, AL 35226
      View Details
    • $399,000

      Residential Lot on Golf Course

      Spacious 0.60 acre lot on Ross Bridge golf course.
      1795 GLASSCOTT TRAIL, HOOVER, AL 35226
      View Details
    • $45,000

      Vacant Lot in Hoover

      Vacant wooded lot in Hoover near shopping, dining, and entertainment.
      1924 CHARLOTTE DRIVE, HOOVER, AL 35226
      View Details
    • $89,900

      Residential Lot in Hoover, AL

      Ready-to-build lot with utilities in Hoover, Alabama.
      1309 S CHASE CIRCLE, HOOVER, AL 35244
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime commercial land in Lee Branch shopping center, Hoover, AL.
    Where is this commercial land located?
    The property is located at 6336 FARLEY LANE Hoover, AL.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: Prime commercial land in Lee Branch shopping center; Over 11 acres of land; Zoned C‑2 retail/office district
    (205) 848-2005
    We can help!
    Listing Contact
    Hanna Salter
    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!