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    1459 Montgomery Hwy Vestavia Hills, AL 35216-3632
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    Property profile & analytics

    1459 Montgomery Hwy, Vestavia Hills, AL 35216-3632

    View on Map
    • Commercial real estate
    • 20,814 SF
    • 0.68 lot acres
    Off-Market
    Last Sale Jan 31, 2020
    $500,000
    Property ID
    US03-0742069
    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
    $525,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1459 Montgomery Hwy

    Year built
    1972
    Construction
    CONCRETE
    Lot size
    0.68 lot acres
    Zone code
    B3
    Property type
    Commercial real estate
    APN
    39-00-01-1-001-002.000
    APU
    3900011001002000

    Description

    This exceptional new retail development, located at 1459 Montgomery Highway in Vestavia Hills, Alabama (zip code 35216), offers 12,433 square feet of space across three single-story buildings. Currently, 5,183 square feet are available for lease, divisible into four units ranging from a minimum of 1,200 square feet to a maximum contiguous space of 5,183 square feet. The property boasts a highly desirable location within Vestavia's thriving commercial corridor on Highway 31. The development features two established anchor tenants, Big Bad Breakfast and Waldo's Chicken & Beer, both with attractive outdoor patios, creating a vibrant and appealing atmosphere. Construction is slated for completion in Fall 2024, with restaurant openings projected for the first quarter of 2025. This presents a unique chance to secure space in a brand-new development alongside successful, established businesses. The property's multiple suite configuration provides flexibility for various retail or restaurant concepts. This is an ideal location for businesses seeking high visibility and access to a strong customer base in a rapidly growing area. The total number of suites in the development is four.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $420,000
      ML approach
      $515,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $692,000
      Market price range: $692k - $2.57M

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

    Location Insight

    • Map
    • Local Demand
    City
    Vestavia Hills
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.8009
    Latitude
    33.4183
    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
    2022
    $11,134
    $119,280
    $1,340
    $120,620
    -
    $596,400
    $6,700
    $603,100

    Comparable in this City

    • Value Estimation by Request
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      0.76 Acres

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      COMMERCIAL (GENERAL)
      619 Woodland Vlg, Birmingham, AL 35216
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      0.44 Acres

      2809 Ashley Wood Dr

      COMMERCIAL (GENERAL)
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    • Value Estimation by Request
      1,990 SF

      2324 Rocky Rdg Rd

      COMMERCIAL (GENERAL)
      2324 Rocky Rdg Rd, Hoover, AL 35216-3828
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    • Value Estimation
      $30,735,000
      2.82 Acres

      2639 Rocky Rdg Ln

      COMMERCIAL (GENERAL)
      2639 Rocky Rdg Ln, Vestavia Hills, AL 35216-4809
      View Details
    • Value Estimation
      $1,995,000
      6,008 SF

      3150 Lorna Rd

      COMMERCIAL (GENERAL)
      3150 Lorna Rd, Hoover, AL 35216-5421
      View Details

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      Flat Lot Ready to Build

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    Similar Nearby for Lease

    • $12 SF/Yr
      5,741 SF

      Office Space in Prime Location

      Office space with conference rooms, convenient location, and updated HVAC.
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      Retail Space on Lorna Road

      Retail space available in Hoover with high traffic count.
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      Georgetown Place Office Space

      Office space in well-maintained building with convenient access.
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      4,500 SF

      Vestavia Hills Office Space Available

      Office space with elevator access, convenient location, and ample parking.
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      Vestavia Parkway Office Space Available

      Professionally managed office space for rent in Vestavia Hills.
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      Office Space in Hoover, Alabama

      Office suite available for rent in a convenient location.
      3525 Lorna Ridge Dr, Birmingham, AL 35216
      View Details
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    Vestavia Hills, AL 35216-3632
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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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