Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Riverchase Shopping Center Near Galleria Title is generated by Realmo AI

    1855 Montgomery Hwy, Birmingham, AL 35244

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    197,840 sq ft shopping center near I-65 and I-459.

    Type:Retail
    Property size:
    197,840 SF
    Added:
    Aug 7, 2024
    Days on Market:
    667
    Last Refresh:
    May 12 at 10:49 pm

    Property Features for 1855 Montgomery Hwy

    General Information

    Standard status
    Active
    Size
    197,840 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1989

    Spaces For Lease

    at 1855 Montgomery Hwy Contact us

    We can help!

    Listing Contact
    Evan Staley

    Listing agent Evan Staley License #GA

    Listing office Hendon Properties

    Listing date Aug 7, 2024

    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 Hendon Properties

    HighLights

    • Anchored by top national tenants Hobby Lobby and Planet Fitness.
    • Located in a densely‑populated, growing, affluent area with high traffic.
    • Above national average in education, per‑capita income, and average household income.
    • Located near I‑65 and I‑459, one mile from The Galleria.
    • Diverse tenant base offering health and wellness services, grocery, and restaurants.
    • Median household incomes have grown by 51% since 2000.

    Overview

    Plaza at Riverchase is a 197,840 sq. ft. shopping center located near I-65 and I-459, approximately one mile from The Galleria. The shopping center caters to the residents in and around the Birmingham MSA. Anchored by Hobby Lobby and Planet Fitness, the tenant base includes health and wellness services, grocery, and restaurants. The property is located on a high traffic corridor in a densely-populated area. The area is growing and affluent, with above-average education, per-capita income, and average household income. Median household incomes have grown by 51% since 2000. Hobby Lobby has been a tenant at the property for over 20 years.
    Location Intelligence

    Current Use by Public Records

    Hobby Lobby (Bike/Boat/Book/etc) Store crazycazboys Discount Store BIDDING KINGS Trade Show Venue

    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.

    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
    Birmingham
    County
    Shelby
    State
    Alabama
    Longitude
    -86.7974119
    Latitude
    33.3689571

    Nearby Similar for Lease

    • $2,765/Mo
      2,212 SF

      Well-Configured Office Suite For Lease

      Office suite with enclosed offices, meeting space, and support areas.
      200 Cahaba Park Cir, Birmingham, AL 35242
      View Details
    • $3,683/Mo
      2,946 SF

      Flexible Office Suite in Birmingham

      Adaptable 2,946 SF office suite in Cahaba Office Park.
      200 Cahaba Park Cir, Birmingham, AL 35242
      View Details
    • $2,438/Mo
      1,950 SF

      Efficient Office Suite For Lease

      Functional office suite with flexible workspace and included parking.
      200 Cahaba Park Cir, Birmingham, AL 35242
      View Details
    • $3,254/Mo
      2,603 SF

      Flexible Office Suite For Rent

      Adaptable office suite suitable for various professional uses.
      200 Cahaba Park Cir, Birmingham, AL 35242
      View Details
    • $5,370/Mo
      4,296 SF

      Birmingham Office Suite For Rent

      Spacious office suite with offices, meeting space, and workstations.
      200 Cahaba Park Cir, Birmingham, AL 35242
      View Details
    • $1,719/Mo
      1,375 SF

      Professional Office Suite For Rent

      Office suite with practical layout, suitable for various professional uses.
      200 Cahaba Park Cir, Birmingham, AL 35242
      View Details
    • $1,120/Mo
      896 SF

      Compact Office Suite For Rent

      Efficient 896 SF office suite suitable for various professionals.
      200 Cahaba Park Cir, Birmingham, AL 35242
      View Details
    • $1,300/Mo
      1,040 SF

      Office Suite in Cahaba Park

      Compact office suite with flexible layout and convenient location.
      200 Cahaba Park Cir, Birmingham, AL 35242
      View Details
    • $4,485/Mo
      3,588 SF

      Spacious Office Suite For Rent

      Flexible office suite suitable for various professional uses.
      200 Cahaba Park Cir, Birmingham, AL 35242
      View Details
    • $5,946/Mo
      4,757 SF

      Spacious Office Suite in Birmingham

      Large 4,757 SF office suite with flexible layout.
      200 Cahaba Park Cir, Birmingham, AL 35242
      View Details
    • $129-$6,256/Mo
      11-1,292 SF

      AL Birmingham Regus Shipt Tower

      420 Birmingham St, Birmingham, AL 35203
      View Details
    • Sponsored
      Contact for pricing

      AL, Birmingham - 1st Ave N

      2129 1St Ave, Birmingham, AL 35203
      View Details

    FAQs

    What type of property is this?
    Shopping center - 197,840 sq ft shopping center near I-65 and I-459.
    Where is this shopping center located?
    The property is located at 1855 Montgomery Hwy Birmingham, AL.
    What are key features of this property?
    This property features: Anchored by top national tenants Hobby Lobby and Planet Fitness.; Located in a densely‑populated, growing, affluent area with high traffic.; Above national average in education, per‑capita income, and average household income.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Evan Staley
    Real Estate License ID: GA
    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
    1855 Montgomery Hwy, Birmingham, AL 35244
    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!