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    Property profile & analytics

    11823 Memorial SE Pkwy Huntsville, AL 35803-3398

    • Investment properties
    • 11,466 SF
    • 1.78 lot acres
    OFF-MARKET
    Value Estimations
    $1,485,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0525975
    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

    • Purple Vapez / (Bike/Boat/Book/etc) Store
    • Gospel Life Church / Church
    • Papa Murphy's | Take 'N' Bake Pizza / Restaurant

    Property Details for 11823 Memorial SE Pkwy

    Year built
    2018
    Construction
    WOOD
    Lot size
    1.78 lot acres
    Property size
    11,466 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    23-03-07-4-003-069.000
    APU
    2303074003069000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,700,000
      Current use
      MEDICAL BUILDING
      $2,320,000
      Change: +37% Conversion: Easy
      OFFICE BUILDING
      $1,825,000
      Change: +7% Conversion: Easy
      RETAIL STORES
      $1,765,000
      Change: +4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.5659
    Latitude
    34.6139
    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
    $16,052
    $55,900
    $220,860
    $276,760
    -
    $279,500
    $1,104,300
    $1,383,800

    Comparable in this City

    • Value Estimation
      $2,360,000
      27,348 SF

      10099 Memorial SE Pkwy

      STORE/OFFICE (MIXED USE) • 27,348 SF
      10099 Memorial SE Pkwy, Huntsville, AL 35803-1060
      View Details
    • Value Estimation
      $1,110,000
      8,030 SF

      Mem S Pkwy

      STORE/OFFICE (MIXED USE) • 8,030 SF
      Mem S Pkwy, Huntsville, AL 35803
      View Details
    • Value Estimation
      $4,690,000
      8,625 SF

      11310 Memorial SW Pkwy

      STORE/OFFICE (MIXED USE) • 8,625 SF
      11310 Memorial SW Pkwy, Huntsville, AL 35803-2148
      View Details
    • Value Estimation
      $1,890,000
      16,250 SF

      2130 Redstone SW Rd

      STORE/OFFICE (MIXED USE) • 16,250 SF
      2130 Redstone SW Rd, Huntsville, AL 35803-2669
      View Details
    • Value Estimation by Request
      3,342 SF

      11515 Memorial SE Pkwy

      STORE/OFFICE (MIXED USE) • 3,342 SF
      11515 Memorial SE Pkwy, Huntsville, AL 35803-4423
      View Details
    • Value Estimation
      $3,845,000
      27,400 SF

      11700 Memorial SW Pkwy

      STORE/OFFICE (MIXED USE) • 27,400 SF
      11700 Memorial SW Pkwy, Huntsville, AL 35803-3351
      View Details

    Similar Nearby for Sale

    • $7,820,000
      344.00 Acres

      Hobbs Island Development Opportunity

      344-acre island, prime riverfront location.
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    • $4,150,000
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      Huntsville Residential Land Development

      58 Acres, Prime Huntsville Location
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    • $7,649,911

      Prime Commercial Land Opportunity

      Commercial land suitable for multi-family, restaurants, offices, and more.
      17 Acres Lee Ln Se, Huntsville, AL 35803
      View Details
    • $100,000
      0.34 Acres

      Huntsville Land for Residential Development

      Residential land in established South Huntsville neighborhood.
      Shades Rd, Huntsville, AL 35803
      View Details
    • $550,000
      1.69 Acres

      Huntsville Commercial Lots on Highway

      Two commercial lots in prime location with high visibility.
      12004 SW Memorial Pkwy S, Huntsville, AL 35803
      View Details
    • $765,000
      9.90 Acres

      Huntsville Land: Bluff View Estate

      9+ acre estate lot near downtown Huntsville and Redstone Arsenal.
      13300 S Village Square Rd, Huntsville, AL 35803
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      19,964 SF

      Weatherly Plaza Executive Suites

      South Huntsville Office Space, 4 Suites Available
      1403 Weatherly Plz, Huntsville, AL 35803
      View Details
    • Contact for pricing
      16,250 SF

      Laurel Plaza: Huntsville Retail Center

      16,250 SF Retail Plaza - Fully Vacant
      2130 Redstone Rd, Huntsville, AL 35803
      View Details
    • Contact for pricing
      55,159 SF

      Huntsville Retail Center Opportunity

      Prime Huntsville storefront space available.
      11220 Memorial Pkwy, Huntsville, AL 35803
      View Details
    • $9 SF/Yr

      Huntsville Warehouse with Yard Space

      Two 5,000 SF buildings with yard space for lease.
      2013 Fisher St SW, Huntsville, AL 35803
      View Details
    • New
      $6,000 /Mo
      1,996 SF

      Huntsville Flex Space For Rent

      Flex/industrial space available for lease in Huntsville, Alabama.
      11505 S Memorial Pkwy, Huntsville, AL 35803
      View Details
    • Contact for pricing
      54,000 SF

      Huntsville Class A Office Space

      Modern Office Suites, Redstone Arsenal Area
      885 Haysland Rd, Huntsville, AL 35803
      View Details
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    Huntsville, AL 35803-3398
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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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