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    Property profile & analytics

    2701 Lurleen B Wallace Blvd Tuscaloosa, AL 35476

    • Turn key restaurants
    • 2,035 SF
    • 0.51 lot acres
    For Lease
    View listing
    $5,250 /Mo
    Last Sale
    Sep 20, 2024
    Value Estimations
    $205,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0855697
    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

    • Turn key restaurants

    Property Details for 2701 Lurleen B Wallace Blvd

    Year built
    1974
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.51 lot acres
    Property size
    2,035 SF
    Zone code
    C-3
    Property type
    Turn key restaurants
    APN
    31-02-10-3-007-005.000
    APU
    3102103007005000

    Description

    This exceptional 2,035 square foot restaurant space is located at 2701 Lurleen B Wallace Blvd in Northport, Alabama, at the highly visible corner of Lurleen B Wallace Boulevard and 27th Street. The property is zoned C-3 and situated in Tuscaloosa County, zip code 35476. Benefitting from a daily traffic count of 43,000 vehicles, this single-tenant property offers unparalleled exposure and accessibility for any restaurant concept. Its prime location ensures high visibility and convenient access for customers. The building's total square footage is 2,035 square feet, providing ample space for a variety of restaurant operations. This is a remarkable opportunity for a business seeking a prominent and easily accessible location in a thriving Northport commercial area. The property's strategic placement at a major intersection guarantees significant foot and vehicle traffic, making it an ideal location for a successful restaurant venture.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $200,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $330,000
      Market price range: $134k - $671k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Northport
    County
    Tuscaloosa
    State
    Alabama
    Longitude
    -87.5762
    Latitude
    33.2345
    CBSA code
    46220
    CBSA name
    TUSCALOOSA, 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
    2023
    $2,683
    $20,800
    $48,880
    $69,680
    -
    $104,000
    $244,400
    $348,400

    Comparable in this City

    • Value Estimation
      $175,000
      4,559 SF

      1620 Mcfarland Blvd

      RESTAURANT • 4,559 SF
      1620 Mcfarland Blvd, Northport, AL 35476-3259
      View Details
    • Value Estimation
      $2,160,000
      3,300 SF

      3021 Tyler Dr

      RESTAURANT • 3,300 SF
      3021 Tyler Dr, Northport, AL 35476-3287
      View Details
    • Value Estimation
      $225,000
      1,437 SF

      408 Main Ave

      RESTAURANT • 1,437 SF
      408 Main Ave, Northport, AL 35476-5064
      View Details
    • Value Estimation
      $185,000
      3,798 SF

      101 Brg Ave

      RESTAURANT • 3,798 SF
      101 Brg Ave, Northport, AL 35476-5052
      View Details
    • Value Estimation
      $170,000
      1,601 SF

      5681 Mcfarland Blvd

      RESTAURANT • 1,601 SF
      5681 Mcfarland Blvd, Northport, AL 35476-3536
      View Details
    • Value Estimation
      $215,000
      5,057 SF

      Mcfarland Blvd

      RESTAURANT • 5,057 SF
      Mcfarland Blvd, Northport, AL 35476
      View Details

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    • Contact for pricing
      0.11 Acres

      Land Parcel in Northport, AL

      Versatile land parcel ideal for development or investment.
      29Th Ave, Northport, AL 35476
      View Details
    • New
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    Similar Nearby for Lease

    • $44 SF/Yr
      2,035 SF

      Northport Restaurant - High Traffic Area

      Prime Northport location, 2,035 sq ft, high visibility.
      2701 Lurleen B Wallace Blvd, Northport, AL 35476
      View Details
    • $124,992
      3,778 SF

      Prime Retail Space - Northport, AL

      Former Pizza Hut, 3778 sq ft, high traffic area.
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      View Details
    • $5,250 /Mo
      2,035 SF

      Former Restaurant Space For Lease

      2,035 SF former restaurant space available for lease.
      2701 Lurleen B Wallace Blvd, Tuscaloosa, AL 35476
      View Details
    • $4,000 /Mo
      1,200 SF

      Retail Space on McFarland Boulevard

      Retail space for lease with high traffic and ample parking.
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      View Details
    • $12 SF/Yr
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      Retail Space in Black Warrior

      3,000 SF retail space with flexible floor plan.
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      View Details
    • $35 SF/Yr
      3,500 SF

      Northport Retail Space For Lease

      3,500 SF retail space available in busy Northport shopping center.
      5550 Mcfarland Blvd, Northport, AL 35476
      View Details
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    Tuscaloosa, AL 35476
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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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