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    2004 Veterans Memorial Dr Birmingham, AL 35214

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    2004 Veterans Memorial Dr Birmingham, AL 35214

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    • Land
    • 0.92 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ollie's Bargain Outlet / Carpet & Flooring Store / Hardware & Home Improvement

    Property Details for 2004 Veterans Memorial Dr

    Lot size
    0.92 lot acres
    Property type
    Land
    Property subtype
    Retail space

    Description

    This exceptional 0.92-acre outparcel presents a remarkable opportunity for development in Birmingham, Alabama. Situated at 2004 Veterans Memorial Drive (Hwy 78), this property boasts unparalleled visibility on Forestdale Blvd./Veterans Memorial Parkway, benefiting from an impressive daily traffic count of approximately 17,452 vehicles. The land is located within a well-maintained, value-oriented shopping center and is conveniently positioned at a traffic signal, ensuring maximum exposure for any future development. The property's parcel number is 2100124002003008, and its location in Jefferson County, Alabama, zip code 35214, offers easy access to major transportation routes and a thriving consumer base. This build-to-suit site is ideal for businesses seeking high visibility and a strong location within an established retail environment. The property's well-maintained surroundings and high traffic volume make it an attractive investment for a variety of commercial uses. This is a rare opportunity to acquire a prime outparcel in a desirable location with significant potential for growth and return on investment. The site's high visibility and strategic placement within a value-oriented shopping center guarantee a strong foundation for success.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Birmingham
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.9058
    Latitude
    33.5737

    Comparable in this City

    • Value Estimation by Request
      40,000 SF

      1948 Forestdale Blvd

      Lifestyle centers • 40,000 SF
      1948 Forestdale Blvd, Birmingham, AL 35214
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    • Value Estimation by Request
      1,186 SF

      927 Forestdale Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,186 SF
      927 Forestdale Blvd, Birmingham, AL 35214-3854
      View Details
    • Value Estimation
      $1,225,000
      8,558 SF

      1004 Forestdale Blvd

      RETAIL STORES (PERSONAL SERVICES) • 8,558 SF
      1004 Forestdale Blvd, Birmingham, AL 35214-3832
      View Details
    • Value Estimation by Request
      3,517 SF

      1049 Forestdale Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,517 SF
      1049 Forestdale Blvd, Birmingham, AL 35214-3831
      View Details
    • Value Estimation
      $1,740,000
      17,711 SF

      1551 Forestdale Blvd

      RETAIL STORES (PERSONAL SERVICES) • 17,711 SF
      1551 Forestdale Blvd, Birmingham, AL 35214-3017
      View Details
    • Value Estimation by Request
      0.82 Acres

      2456 Hackworth Rd

      Land • 0.82 Acres
      2456 Hackworth Rd, Birmingham, AL 35214
      View Details

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    Similar Nearby for Lease

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      1,400 SF

      Retail Space in Forestdale Blvd

      Retail spaces available from 1,400 to 17,500 square feet.
      1924-2012 Veterans Memorial Dr, Birmingham, AL 35214
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      Forestdale Blvd Retail/Office Space

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      Retail and Office Space Available

      Multi-tenant neighborhood center with ample parking and full access.
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      Neighborhood Shopping Center For Lease

      Neighborhood shopping center with strong national and regional tenants.
      2004 Veterans Memorial Dr, Birmingham, AL 35214
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      Adamsville Town Center Retail Space

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      Forestdale Retail Space For Rent

      Retail space with high visibility in Forestdale, Alabama.
      1552 Forestdale Blvd, Forestdale, AL 35214
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    2004 Veterans Memorial Dr
    Birmingham, AL 35214
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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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