Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    120 Riverchase E Pkwy Hoover, AL 35244-1811

    • Motels
    • 71,588 SF
    • 3.08 lot acres
    OFF-MARKET
    Last Sale
    Aug 02, 2022
    $7,200,000
    Value Estimations
    $7,220,000
    Show details
    Cap Rate Potential
    4.4%
    Motels
    Location Intelligence
    Property ID
    US03-1379182
    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

    • Motels

    Property Details for 120 Riverchase E Pkwy

    Year built
    1996
    Lot size
    3.08 lot acres
    Property size
    71,588 SF
    Property type
    Motels
    APN
    109300001004030
    APU
    109300001004030

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,705,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,610,000
      6.5%
      $5,180,000
      7%
      $4,810,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,770,000
      Market price range: $6.77M - $14.5M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $10,275,000
      Current use
      OFFICE BUILDING
      $11,925,000
      Change: +16% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $11,525,000
      Change: +12% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $9,625,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hoover
    County
    Shelby
    State
    Alabama
    Longitude
    -86.7841
    Latitude
    33.3531
    CBSA code
    13820
    CBSA name
    BIRMINGHAM-HOOVER, 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
    $90,903
    $0.00
    $0.00
    $1,356,680
    -
    $1,394,760
    $5,388,640
    $6,783,400

    Comparable in this City

    • Value Estimation
      $1,005,000
      14,859 SF

      500 Jackson Dr

      MOTEL • 14,859 SF
      500 Jackson Dr, Hoover, AL 35244-1031
      View Details
    • Value Estimation
      $2,090,000
      37,740 SF

      1840 Southpark Dr

      MOTEL • 37,740 SF
      1840 Southpark Dr, Hoover, AL 35244-2094
      View Details
    • Value Estimation
      $10,320,000
      65,279 SF

      1824 Montgomery Hwy

      MOTEL • 65,279 SF
      1824 Montgomery Hwy, Hoover, AL 35244-1208
      View Details
    • Value Estimation
      $1,560,000
      32,735 SF

      1800 Riverchase Dr

      MOTEL • 32,735 SF
      1800 Riverchase Dr, Hoover, AL 35244-1008
      View Details
    • Value Estimation
      $1,195,000
      27,217 SF

      4520 Galleria Blvd

      HOTEL • 27,217 SF
      4520 Galleria Blvd, Hoover, AL 35244-5304
      View Details
    • Value Estimation
      $9,485,000
      70,848 SF

      2960 John Hawkins Pkwy

      HOTEL • 70,848 SF
      2960 John Hawkins Pkwy, Hoover, AL 35244-1087
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,316 SF

      Hoover Condo with Open Layout

      Two-bedroom, two-bath condo with open floor plan and garage.
      2002 Waterford Pl, Hoover, AL 35244
      View Details
    • $249,900

      Riverhaven Condo with Community Amenities

      Three-bedroom condo in gated community with pool and fitness center.
      1322 Riverhaven Pl, Hoover, AL 35244
      View Details
    • $995,000

      Renovated Industrial/Flex Space Investment

      5,000 SF renovated flex space with fenced storage yard.
      2085 Old Montgomery Hwy, Pelham, AL 35244
      View Details
    • Contact for pricing
      1,375 SF

      Hoover Condo with Community Pool

      Two-bedroom condo in Hoover near shopping, dining, and interstates.
      1977 Waterford Pl, Hoover, AL 35244
      View Details
    • $159,900
      1.31 Acres

      Rare Hoover Lot with Views

      1.3-acre lot in Hoover, cleared and ready to build.
      1776 Southpointe Dr, Hoover, AL 35244
      View Details
    • $1,625,000
      8.40 Acres

      Valleydale Road Commercial Land

      8.4-acre prime commercial/residential land.
      0 Valleydale Rd, Birmingham, AL 35244
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Restaurant Space in Hoover Promenade

      7,878 SF restaurant space in a busy shopping center.
      2740 John Hawkins Pkwy, Hoover, AL 35244
      View Details
    • $19 SF/Yr
      16,930 SF

      Hoover Medical Office Building

      16,930 SF Medical Office Space Available
      800 Concourse Pkwy, Hoover, AL 35244
      View Details
    • Contact for pricing
      5,383 SF

      Retail Space in Hoover, AL

      Retail space available in a highly visited shopping center.
      1713-1715 Montgomery Hwy, Hoover, AL 35244
      View Details
    • Contact for pricing
      11,187 SF

      Open-Air Shopping Center Space

      Retail and restaurant spaces available in open-air shopping center.
      4351-4401 Creekside Ave, Hoover, AL 35244
      View Details
    • $30 SF/Yr
      18,609 SF

      Chace Lake Station Retail Space

      Prime Birmingham Retail, High Traffic Area
      4741 Chace Cir, Birmingham, AL 35244
      View Details
    • $19 SF/Yr
      30,000 SF

      Hoover Office Space for Lease

      Prime Office Space in Pelham
      1849 Data Dr, Hoover, AL 35244
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    120 Riverchase E Pkwy
    Hoover, AL 35244-1811
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!