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    3150 Lorna Rd Hoover, AL 35216

    • Commercial real estate
    • 6,008 SF
    • 0.53 lot acres
    For Lease
    View listing
    Value Estimation
    $2,055,000
    Last Sale
    Jan 31, 2022
    $2,490,000
    Location Intelligence
    Property ID
    US03-0686041
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3150 Lorna Rd

    Year built
    1970
    Lot size
    0.53 lot acres
    Property size
    6,008 SF
    Zone code
    C1
    Property type
    Commercial real estate
    APN
    39-00-12-1-011-004.000
    APU
    3900121011004000

    Description

    Lorna Square, located at 3150 Lorna Rd in Hoover, Alabama, offers 7,130 square feet of newly renovated office space for lease. This Class C property features 16 available suites ranging from 391 to 5,315 square feet, with a minimum divisible space of 400 square feet and a maximum contiguous space of 3,065 square feet. The property is conveniently situated less than one mile from I-65, providing easy access via a traffic light. Ample parking is available both in front and behind the buildings, and signage opportunities exist. Lease rates begin at $11.00 per square foot, and flexible terms are available for both short and long-term leases. Full-service leases include power, water, and janitorial services, minimizing tenant hassle. The property boasts an attentive local ownership and management team. Its location near numerous restaurants and shopping centers adds to its appeal. Furthermore, there is no occupational tax, making this an excellent value proposition. Individual offices are available, along with a conference room. Floor plans and sizes are adaptable to various budgetary needs, and the property will accommodate division of larger spaces.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,925,000

    • CAP approach

      CAP return
      Estimation
      6%
      $2,690,000
      6.5%
      $2,420,000
      7%
      $2,810,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $2,805,000
      Geo Method
      $2,170,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $2,375,000
      Retail
      $1,940,000
      Mixed-Use
      $2,235,000
      Hospitality
      $2,355,000
      Educational
      $2,185,000
      Residential Income
      $1,985,000
      Energy
      $2,510,000
      Income-Based Land
      $2,385,000
      Food Service
      $2,230,000

    Location Insight

    • Map
    • Local Demand
    City
    Hoover
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.8027
    Latitude
    33.3979
    CBSA code
    13820
    CBSA name
    BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $0.00
    $30,260
    $58,520
    $88,780
    -
    $151,300
    $292,600
    $443,900

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    • Value Estimation
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    3150 Lorna Rd
    Hoover, AL 35216
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    Realmo Value Estimation

    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.

    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.

    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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