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    1407 Memorial Pkwy NW Huntsville, AL 35801
    Property profile & analytics

    1407 Memorial Pkwy NW, Huntsville, AL 35801

    View on Map
    • Strip malls
    • 44,430 SF
    • 7.00 lot acres
    For Lease
    $955,000
    View Listing →
    Retail Space on Memorial Parkway For Lease
    $955,000

    Retail Space on Memorial Parkway

    Retail space available in a highly trafficked Huntsville location.

    1407 Memorial Parkway NW, Huntsville, AL 35801
    View Listing
    Property ID
    US03-1813012
    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
    $955,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Untitled Hair Designs / Hair Salon / Nail Salon
    • Downtown Rescue Mission Thrift Store / Discount Store
    • Health Unlimited / Health
    • ORIENTAL MASSAGE / Alternative Medicine Practice / Spa & Massage Center
    • Up N Smoke #12 / (Bike/Boat/Book/etc) Store / Alternative Medicine Practice

    Property Details for 1407 Memorial Pkwy NW

    Year built
    1965
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    7.00 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    14-07-26-3-001-002.000
    APU
    1407263001002000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 5, 2019 $1,621,000 Rtj LLC Baites,edsel H JR & John W Warranty Deed —

    Description

    Oak Park Shopping Center, located at 1407 Memorial Pkwy NW, Huntsville, AL 35801, presents a prime retail opportunity in a bustling Alabama market. This established shopping center offers a total of 67,426 square feet of retail space, with multiple tenancies currently in place. For prospective tenants, there are two spaces immediately available, ranging from a minimum of 2,000 square feet to a maximum contiguous space of 7,360 square feet. A total of 9,360 square feet is currently vacant, providing flexibility for businesses of varying sizes. The strategic location at the intersection of Memorial Parkway and Oakwood Avenue ensures high visibility and accessibility for customers. This presents a unique chance to establish or expand a retail presence in a high-traffic area of Huntsville. The property's address is easily accessible and benefits from excellent visibility due to its location on a major thoroughfare. The available spaces are ideal for a variety of retail uses, offering a chance to capitalize on the strong local economy and consumer base. Serious inquiries are encouraged to explore this exceptional retail investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $845,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,064,000
      Market price range: $712k - $3.39M

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.6009
    Latitude
    34.7486
    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
    $21,597
    $182,940
    $189,420
    $372,360
    -
    $914,700
    $947,100
    $1,861,800

    Comparable in this City

    • Value Estimation
      $970,000
      62,565 SF

      3000 Memorial SW Pkwy

      SHOPPING CENTER, STRIP CENTER
      3000 Memorial SW Pkwy, Huntsville, AL 35801-5303
      View Details
    • Value Estimation
      $950,000
      62,565 SF

      3000 Memorial SW Pkwy

      SHOPPING CENTER, STRIP CENTER
      3000 Memorial SW Pkwy, Huntsville, AL 35801-5303
      View Details
    • Value Estimation
      $8,260,000
      25,861 SF

      900 Bob Wallace SW Ave

      SHOPPING CENTER, STRIP CENTER
      900 Bob Wallace SW Ave, Huntsville, AL 35801-5691
      View Details
    • Value Estimation
      $3,925,000
      46,997 SF

      2021 Drake SW Ave

      SHOPPING CENTER, STRIP CENTER
      2021 Drake SW Ave, Huntsville, AL 35801-5608
      View Details
    • Value Estimation by Request
      3,900 SF

      614 Madison SE St

      SHOPPING CENTER, STRIP CENTER
      614 Madison SE St, Huntsville, AL 35801-4430
      View Details
    • Value Estimation
      $780,000
      16,093 SF

      3022 Memorial SW Pkwy

      SHOPPING CENTER, STRIP CENTER
      3022 Memorial SW Pkwy, Huntsville, AL 35801-5371
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,988 SF

      High-Traffic Retail Space Available

      Retail space with high visibility and excellent growth potential.
      2800 Memorial Pkwy SW, Huntsville, AL 35801
      View Details
    • Contact for pricing
      4,570 SF

      Huntsville Retail Building For Sale

      4,570 SF retail building in high-traffic Huntsville location.
      1001 Memorial Pkwy N, Huntsville, AL 35801
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      Huntsville Office Building in CBD

      Class B office building in Huntsville's prime Central Business District.
      308 Clinton Ave W, Huntsville, AL 35801
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      New Class A Office/Retail Space

      High visibility, new construction office and retail space for sale.
      3409 Memorial Pkwy SW, Huntsville, AL 35801
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    • $2,250,000

      Huntsville Commercial Land - Airport Rd

      Prime Commercial Land, Southeast Huntsville
      0 Airport Rd, Huntsville, AL 35801
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      Huntsville Duplex For Sale

      Duplex in Huntsville, AL, perfect for owner occupancy.
      1325 Stevens Ave, Huntsville, AL 35801
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    Similar Nearby for Lease

    • Contact for pricing

      Prime Huntsville Commercial Property

      High-visibility retail and office space in a thriving Huntsville location.
      2900 Memorial Pkwy, Huntsville, AL 35801
      View Details
    • Contact for pricing

      Retail Space in Parkway Place

      Retail spaces available within established shopping center.
      2801 S Memorial Pkwy, Huntsville, AL 35801
      View Details
    • Contact for pricing

      Flexible Property on Memorial Parkway

      Adaptable space for industrial, warehouse, office, or service-oriented businesses.
      2518 Memorial Pkwy SW, Huntsville, AL 35801
      View Details
    • Contact for pricing

      Mixed-Use Property with Warehouse

      Office/retail with warehouse, roll-up door, and side load dock.
      3055 Leeman Ferry Rd SW, Huntsville, AL 35801
      View Details
    • Contact for pricing

      Flexible Property on Memorial Parkway

      Adaptable space for industrial, warehouse, office, or service-oriented businesses.
      2518 Memorial Pkwy SW, Huntsville, AL 35801
      View Details
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    Huntsville, AL 35801
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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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