Add Listing
    For Lease
    • 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

    3414 Governors Dr Huntsville, AL 35805

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Huntsville's Premier Office & Retail

    Lot size:
    200,000 SF

    Property Features for 3414 Governors Dr

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    200,000 SF

    Building Details

    Stories
    1

    Spaces For Lease

    at 3414 Governors Dr, Huntsville, AL 35805 Contact us

    We can help!

    Listing Contact
    Vanessa Morris
    Vanessa Morris

    Listing Agent: Vanessa Morris

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional commercial property, located in Huntsville's vibrant Stovehouse District at 3414 Governors Drive, offers a unique opportunity for businesses seeking prime office or retail space. The Stovehouse, a revitalized century-old building, is a bustling entertainment center featuring eclectic restaurants, gourmet bars, event spaces, boutique shopping, and more. This single-story building boasts a total of 200,000 square feet, with 210,115 square feet currently available. Spaces are divisible down to 341 square feet, with a maximum contiguous space of 20,000 square feet, providing flexibility for various business needs. The property's location within the Stovehouse District ensures high visibility and foot traffic, benefiting from the area's lively atmosphere and diverse clientele. The Stovehouse actively engages its community with events such as discount days, free movie screenings, live music, and outdoor dining, creating a dynamic and attractive environment for businesses and customers alike. This is an unparalleled opportunity to establish your presence in Huntsville's most sought-after entertainment destination. The property is categorized as retail, office, and restaurant space, suitable for a wide range of businesses. Madison County location in the Downtown submarket offers easy access to major transportation routes and amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kamado Ramen Restaurant Vertiv Co Corporate Office Oak River Design, ... Renovation Specialist Liberty Learning Foundation Charitable Organization Oh Crêpe! Bakery

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.612759
    Latitude
    34.7214665

    Nearby Similar for Lease

    • $1,500 /Mo
      5,472 SF

      Huntsville Office Condo For Lease

      Second floor office condo featuring private offices and shared amenities.
      2313 Market Pl, Huntsville, AL 35801
      View Details
    • $7,318 /Mo
      3,818 SF

      Huntsville Commercial Space For Rent

      Medical/Retail/Office space with excellent visibility and central location.
      4550 University Dr, Huntsville, AL 35816
      View Details
    • New
      $3,000 /Mo
      4,000 SF

      Huntsville Commercial Space with Shop

      Office and shop space available for lease in Huntsville.
      2908 Meridian St, Huntsville, AL 35810
      View Details
    • $600 /Mo
      7,500 SF

      Huntsville Office Space For Rent

      Office space for rent with utilities and internet included.
      3113 Ivy Ave, Huntsville, AL 35805
      View Details
    • $1,895 /Mo
      1,073 SF

      Renovated Office Space Available

      Renovated office space in Huntsville, Alabama, totaling approximately 1200 sqft.
      1916 Jordan Ln, Huntsville, AL 35816
      View Details
    • $1,200 /Mo
      2,639 SF

      Huntsville Retail Space Available

      Spacious retail property ideal for salon/barbershop in Huntsville, AL.
      2504 Oakwood Ave NW, Huntsville, AL 35811
      View Details
    • $2,790 /Mo
      1,560 SF

      Huntsville Office Space For Rent

      Versatile office space with easy access and parking.
      525 Fountain Row, Huntsville, AL 35801
      View Details
    • $2,250 /Mo
      12,767 SF

      Historic Building in Downtown Huntsville

      Historic building with lounge, restaurant, and office spaces for rent.
      205 E Side Sq, Huntsville, AL 35801
      View Details
    • $1,700 /Mo
      1,988 SF

      Huntsville Office Space For Lease

      Two-story office building with available suites for lease.
      1775 Jeff Rd, Huntsville, AL 35806
      View Details
    • $1,500 /Mo
      2,296 SF

      Huntsville Office Space For Lease

      Two-story office building with available suites and detached garage.
      1775 Jeff Rd, Huntsville, AL 35806
      View Details
    • $6,000 /Mo
      1,996 SF

      Huntsville Flex Space For Rent

      Flex/industrial space available for lease in Huntsville, Alabama.
      11505 S Memorial Pkwy, Huntsville, AL 35803
      View Details
    • $2,500 /Mo
      2,036 SF

      Huntsville Office Space For Rent

      Office building near Campus 805 with ample parking.
      2613 Clinton Ave W, Huntsville, AL 35805
      View Details

    FAQs

    What type of property is this?
    Office property - Huntsville's Premier Office & Retail
    Where is this office property located?
    The property is located at 3414 Governors Dr Huntsville, AL.
    What are key features of this property?
    This property features: 200,000 total square feet, single-story building.; Multiple tenancy available.; 341 square feet minimum divisible space; up to 20,000 contiguous square feet available.
    (205) 383-4007 Call to check price and availability
    Request Owner's contact information
    3414 Governors Dr Huntsville, AL 35805
    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.
    3414 Governors Dr
    Huntsville, AL 35805
    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
    3414 Governors Dr Huntsville, AL 35805
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Vanessa Morris
    Vanessa Morris
    Real Estate License ID: 793240
    (205) 383-4007 (205) 447-1728 (205) 201-7300
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!