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    1 Chase Corporate Dr Hoover, AL 35244

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    For Lease
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    LEED Silver certified office space in Hoover, Alabama.

    Type:Office
    Lot size:
    14.40 Acres
    Added:
    Jun 15, 2020
    Days on Market:
    2136
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 1 Chase Corporate Dr

    General Information

    Standard status
    Active
    Lot size
    14.40 Acres
    Property subtype
    Office

    Building Details

    Year Built
    1985

    Spaces For Lease

    at 1 Chase Corporate Dr Contact us

    Building Two, Suite 70 $25 /Mo

    Size
    1,099 SF
    Type
    Office
    Can be combined with Suite 55 to create up to 2,916 square feet, offering convenient...
    show more
    Contact us

    Building One, Suite 415 $25 /Mo

    Size
    1,847 SF
    Type
    Office
    Efficient layout with a mixture of office and open workspace with break room
    Contact us

    Building Two, Suite 55 $25 /Mo

    Size
    1,817 SF
    Type
    Office
    Efficient office layout
    Contact us

    Building Two, Suite 165 $25 /Mo

    Size
    1,024 SF
    Type
    Office
    3 perimeter office space with open work space
    Contact us

    Building Two, Suite 30 $25 /Mo

    Size
    4,399 SF
    Type
    Office
    Well-balanced layout offering both hard-walled offices for privacy and open workspace...
    show more
    Contact us

    Building Two, Suite 300 $25 /Mo

    Size
    53,532 SF
    Type
    Office
    The largest contiguous block of available space on a single floor in the Hoover/Riverchase/280/459...
    show more
    Contact us

    Building Two, Suite 440 $25 /Mo

    Size
    17,292 SF
    Type
    Office
    A thoughtfully designed blend of high-end executive offices and collaborative open...
    show more
    Contact us
    Show more

    We can help!

    Listing Contact
    Jamie Justice

    Listing agent Jamie Justice License #AL 000095989

    Listing office Colliers - Birmingham, Alabama

    Listing date Jun 15, 2020

    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 Colliers - Birmingham, Alabama

    Overview

    Class A Office Space

    This Class A office building is situated on 14.4 acres and is LEED Silver Certified. The property features landscaping overlooking a scenic lakefront and water feature. Top of building signage is available. The location provides convenient access to area amenities including golf courses, restaurants, retail centers, hotels, and medical facilities. The property is located in the City of Hoover, which has no occupational tax.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hoover
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.8018912
    Latitude
    33.3713355

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      Professional Office Space Available

      Flexible office suites in Hoover, Alabama, with modern conveniences.
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      Office Space in Hoover

      Office suite available for lease in Hoover, Alabama.
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      Riverchase Galleria Retail Opportunity

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

      Lorna Road Retail Spaces

      Retail spaces available for lease on Lorna Road.
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      View Details
    • $19/mo

      Office and Medical Suites Available

      Office and medical suites for lease with lake views.
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      View Details
    • Contact for pricing

      Office and Medical Suites Available

      Office and medical suites for lease in Hoover, Alabama.
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      View Details

    FAQs

    What type of property is this?
    Office building - LEED Silver certified office space in Hoover, Alabama.
    Where is this office building located?
    The property is located at 1 Chase Corporate Dr Hoover, AL.
    What are key features of this property?
    This property features: Premier LEED Silver Certified Class A office space.; Enjoy scenic lakefront and water feature views.; Top of building signage available.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jamie Justice
    Real Estate License ID: AL 000095989
    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.

    More about this property
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