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    1105 Martin Luther King Jr Blvd Northport, AL 35476
    Property profile & analytics

    1105 Martin Luther King Jr Blvd Northport, AL 35476

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    • Office buildings
    • 1,305 SF
    • 0.06 lot acres
    For Sale
    $3,750,000
    View Listing →
    Prime Acreage in Northport, Alabama For Sale
    $3,750,000
    1,714,521 SF

    Prime Acreage in Northport, Alabama

    39 acres in Northport, Alabama, suitable for redevelopment.

    1105 Martin Luther King Jr Boulevard, Northport, AL 35476
    View Listing
    Property ID
    US03-1116203
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 1105 Martin Luther King Jr Blvd

    Year built
    1950
    Lot size
    0.06 lot acres
    Property size
    1,305 SF
    Zone code
    M-1
    Property type
    Office buildings
    APN
    31-05-15-2-010-001.000
    APU
    3105152010001000

    Description

    This exceptional 39.36-acre commercial property, located at 1105 Martin Luther King Jr Boulevard in Northport, Alabama, presents a unique redevelopment opportunity. Boasting a substantial 1,714,521 square feet of land, this expansive site is ideally situated in the heart of Tuscaloosa County, within a designated Opportunity Zone, offering significant tax advantages for investors. The property's current zoning is M-1 (Light Manufacturing), providing flexibility for a wide range of development projects. Envisioned uses could include medical facilities, multifamily housing, assisted living facilities, or a residential neighborhood, capitalizing on the property's strategic location and ample space. The contiguous nature of the land simplifies development planning and execution. This prime location offers excellent access to major transportation routes and is surrounded by established infrastructure. The asking price for this exceptional investment opportunity is $3,750,000. Serious inquiries are encouraged to explore the potential of this significant commercial land parcel. Don't miss this chance to acquire a substantial tract of land with immense potential for future growth and development in a thriving Alabama community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Northport
    County
    Tuscaloosa
    State
    Alabama
    Longitude
    -87.5701
    Latitude
    33.2291
    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
    $269
    $1,080
    $5,900
    $6,980
    -
    $5,400
    $29,500
    $34,900

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      2108 Lurleen B Wallace Blvd

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      Marina Dr

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      Marina Dr

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      Northport Commercial Land For Sale

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      Downtown Northport Mixed-Use Gem

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      58,035 SF

      Retail Space in Northport, AL

      Retail space available for sale in Northport, Alabama.
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    Similar Nearby for Lease

    • $1,750 /Mo
      1,500 SF

      Northport Retail or Office Space

      Retail or office space available in Northport, Alabama.
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      Class A Office Space Available

      Office suites for lease in desirable Northport location.
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    • $5,000 /Mo
      10,000 SF

      Northport Warehouse Space for Lease

      10,000 SF warehouse space in Northport, Alabama for lease.
      3160 Mcfarland Blvd, Northport, 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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    • Contact for pricing

      Northport Industrial Sublease Opportunity

      80,000 SF industrial sublease in Northport, AL, Foreign Trade Zone.
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    • Contact for pricing

      Northport Industrial Sublease Opportunity

      Industrial sublease in Northport, AL, Foreign Trade Zone.
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      View Details
    View Listing
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    Northport, 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.

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