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    Property profile & analytics

    10116 N Memorial Pkwy Huntsville, AL 35810

    • Retail properties
    • 4,800 SF
    • 9.50 lot acres
    For Sale
    View listing
    $2,900,000
    Last Sale
    Jul 27, 2023
    $638,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0604891
    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

    • Davis Foreign Auto Parts / Auto Parts Store

    Property Details for 10116 N Memorial Pkwy

    Year built
    1988
    Lot size
    9.50 lot acres
    Property size
    4,800 SF
    Property type
    Retail properties
    APN
    08-09-31-0-000-039.000
    APU
    809310000039000

    Description

    This exceptional 9.5-acre property, located at 10116 N Memorial Pkwy in Huntsville, Alabama (zip code 35810), presents a unique investment opportunity. Currently zoned R2B, this mixed-use parcel boasts 455 feet of road frontage along Memorial Parkway, offering significant visibility and accessibility. The property's strategic location is just south of the under-construction northern extension of Research Park Boulevard (SR-255), promising increased traffic and enhanced commercial potential. The city's proposed rezoning of neighboring properties to C4 further suggests future development opportunities. The site previously operated as a junkyard; existing buildings are sold "as is." This versatile land is suitable for a variety of commercial uses, including auto shops, warehouses, and retail establishments, making it an ideal investment for developers and entrepreneurs seeking a high-traffic location in a rapidly growing area of Huntsville, Madison County, Alabama. The property's size and location offer substantial potential for future development and significant return on investment. Latitude and longitude coordinates are 34.8201805, -86.5696676 respectively. The asking price for this exceptional property is $2,000,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $595,000
      ML approach
      $640,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $456,000
      Market price range: $267k - $682k
      AI Estimate
      $431,000
      Market price range: $255k - $594k

    • Alternative Use

      Use
      Estimation
      SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
      $455,000
      Current use
      MEDICAL BUILDING
      $970,000
      Change: +114% Conversion: Difficult
      OFFICE BUILDING
      $765,000
      Change: +68% Conversion: Difficult
      RETAIL STORES
      $740,000
      Change: +62% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $710,000
      Change: +56% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.5697
    Latitude
    34.8202
    CBSA code
    26620
    CBSA name
    HUNTSVILLE, 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
    $3,684
    $30,880
    $32,640
    $63,520
    -
    $154,400
    $163,200
    $317,600

    Comparable in this City

    • Value Estimation by Request
      1,384 SF

      6010 Mastin Lk NW Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,384 SF
      6010 Mastin Lk NW Rd, Huntsville, AL 35810-2942
      View Details
    • Value Estimation
      $665,000
      5,000 SF

      3143 Ldg NW Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 5,000 SF
      3143 Ldg NW Rd, Huntsville, AL 35810
      View Details
    • Value Estimation by Request
      2,623 SF

      4600 Blue Spg NW Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,623 SF
      4600 Blue Spg NW Rd, Huntsville, AL 35810-1949
      View Details
    • Value Estimation by Request
      3,818 SF

      2604 Memorial NW Pkwy

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,818 SF
      2604 Memorial NW Pkwy, Huntsville, AL 35810-3808
      View Details
    • Value Estimation
      $1,295,000
      18,616 SF

      1855 Keats NW Dr

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 18,616 SF
      1855 Keats NW Dr, Huntsville, AL 35810-4464
      View Details
    • Value Estimation by Request
      8,800 SF

      Memorial Pkwy

      Restaurants • 8,800 SF
      0 Memorial Pkwy, Huntsville, AL 35810
      View Details

    Similar Nearby for Sale

    • $2,000,000
      9.50 Acres

      Huntsville Industrial Land - $2M

      9.5-acre commercial property, prime highway location.
      10116 Memorial Pkwy, Huntsville, AL 35810
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    • $4,500,000
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      Huntsville Shopping Center Investment

      62,565 SF Retail Center, High Growth Area
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      Huntsville Retail Center - Prime Location

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      Huntsville Retail Center Investment

      High-yield retail space, prime location.
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      12,400 SF

      Huntsville Retail Center Investment

      High-yield retail space, prime location.
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    • $410,000
      1.52 Acres

      Huntsville Commercial Land For Sale

      1.52 acres suitable for restaurant or franchise development.
      Memorial Pkwy N, Huntsville, AL 35810
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      70,274 SF

      Blue Spring Village Retail Center

      Huntsville, AL: Prime Retail Space Available
      3700 Blue Spring Rd, Huntsville, AL 35810
      View Details
    • Contact for pricing

      Retail Space on Memorial Parkway

      Retail space for lease in North Huntsville with high visibility.
      2417 Memorial Pkwy NW, Huntsville, AL 35810
      View Details
    • $1,500 /Mo
      11,700 SF

      Huntsville Office/Retail Plaza For Rent

      Multi-tenant plaza with leasable space, strong visibility, and on-site parking.
      4206 NW Oakwood Ave, Huntsville, AL 35810
      View Details
    • Contact for pricing
      8,800 SF

      Food City Center Retail Space

      Huntsville, AL retail space available.
      0 Memorial Pkwy, Huntsville, AL 35810
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    • $12 SF/Yr
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      Oakwood Shopping Center Retail Space

      Huntsville retail space, high traffic location.
      2501 Oakwood Ave, Huntsville, AL 35810
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    • Contact for pricing
      1,440 SF

      Huntsville Commons Retail Space

      Prime Retail Space near Walmart
      2200 Sparkman Dr, Huntsville, AL 35810
      View Details
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    Huntsville, AL 35810
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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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