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    1820 3Rd Ave Bessemer, AL 35020

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    1820 3Rd Ave Bessemer, AL 35020

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    • Office properties & Spaces
    • 7,700 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Law Office of Jason B. Tingle / Law Firm
    • The Black Belt Law Group, LLC / Law Firm
    • Lippert Kathryn L / Law Firm
    • Alabama Messenger / Publishing House / Newspaper & Magazine
    • Smith Kewana J / Law Firm

    Property Details for 1820 3Rd Ave

    Property size
    7,700 SF
    Property type
    Office properties & Spaces

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bessemer
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.9535
    Latitude
    33.4026

    Comparable in this City

    • Value Estimation by Request
      2,638 SF

      1821 3rd N Ave

      OFFICE (GENERAL) • 2,638 SF
      1821 3rd N Ave, Bessemer, AL 35020-4963
      View Details
    • Value Estimation
      $1,695,000
      9,720 SF

      2105 3rd N Ave

      OFFICE (GENERAL) • 9,720 SF
      2105 3rd N Ave, Bessemer, AL 35020-4915
      View Details
    • Value Estimation by Request
      1,993 SF

      1709 3rd N Ave

      OFFICE (GENERAL) • 1,993 SF
      1709 3rd N Ave, Bessemer, AL 35020-4836
      View Details
    • Value Estimation by Request
      2,199 SF

      1716 7th N Ave

      OFFICE (GENERAL) • 2,199 SF
      1716 7th N Ave, Bessemer, AL 35020-4855
      View Details
    • Value Estimation by Request
      1,425 SF

      419 19th N St

      OFFICE (GENERAL) • 1,425 SF
      419 19th N St, Bessemer, AL 35020-4869
      View Details
    • Value Estimation by Request
      1,736 SF

      214 16th N St

      OFFICE (GENERAL) • 1,736 SF
      214 16th N St, Bessemer, AL 35020-5782
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.50 Acres

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      Bessemer Retail Opportunity

      Large retail building in Bessemer's primary retail corridor.
      700 19Th St N, Bessemer, AL 35020
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      7,700 SF

      Downtown Bessemer Office Space

      Office space in the heart of Downtown Bessemer.
      1820 3Rd Ave N, Bessemer, AL 35020
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    • Contact for pricing
      4,100 SF

      Medical Clinic on Bessemer Highway

      Medical clinic for sale with high visibility.
      1007 9Th Ave N, Bessemer, AL 35020
      View Details
    • $625,000

      Bessemer Medical Clinic For Sale

      4,100 +/- sq ft medical clinic on Bessemer Super Hwy.
      1007 9Th Ave North, Bessemer, AL 35020
      View Details
    • $3,450,000

      Renovated Warehouse Facility on 4.67 Acres

      Renovated 81,659 SF warehouse on 4.67 acres near I-20/59.
      660 Bessemer Super Hwy, Bessemer, AL 35020
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      26,000 SF

      Showroom and Warehouse on Highway

      26,000 SF showroom and warehouse with highway visibility.
      4200 Bessemer Super Hwy, Bessemer, AL 35020
      View Details
    • Contact for pricing

      Premier Industrial Development on Rodeo Court

      Scalable industrial spaces available for lease or sale.
      Rodeo Ct, Bessemer, AL 35020
      View Details
    • $3 SF/Yr
      20,000 SF

      Industrial Space for Sublease

      20,000 sqft industrial space available for sublease.
      4414 Woodward Rd, Brighton, AL 35020
      View Details
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    Bessemer, AL 35020
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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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