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

    1849 Data Dr Hoover, AL 35244

    • Office properties & Spaces
    • 21,923 SF
    • 3.35 lot acres
    For Lease
    View listing
    $19 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0737018
    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

    • Office properties & Spaces

    Property Details for 1849 Data Dr

    Year built
    1986
    Construction
    STEEL FRAME
    Lot size
    3.35 lot acres
    Property size
    21,923 SF
    Zone code
    PO
    Property type
    Office properties & Spaces
    APN
    40-00-18-3-000-004.000
    APU
    4000183000004000

    Description

    This exceptional office property, located at 1849 Data Drive in Hoover, Alabama, offers a variety of spaces to suit your business needs. The building, a three-story Class B structure built in 1986 and renovated in 2008, boasts a total of 30,000 square feet, with 8,781 square feet currently available for lease. The available space is situated on the third floor and offers flexible options ranging from smaller suites to larger blocks of space. The property sits on a 3.5-acre lot and provides ample parking at a ratio of 4 spaces per 1,000 square feet. Enjoy a Class A lobby and reception area, adding a touch of sophistication to your business operations. This location offers a significant advantage with no city occupational taxes. Its strategic location near the Riverchase Galleria provides easy access to a wide array of amenities, including restaurants, hotels, and banking facilities. Furthermore, its convenient access to Interstates 65 and 459 ensures seamless commutes for your employees and clients. The property is available for occupancy on October 1, 2024. This is a rare opportunity to secure high-quality office space in a thriving Hoover submarket, within the Pelham submarket cluster, and with a zip code of 35244. The property is suitable for executive, creative, or traditional office uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,240,000
      6.5%
      $3,915,000
      7%
      $3,635,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,458,000
      Market price range: $1.14M - $5.57M
      AI Estimate
      $2,356,000
      Market price range: $496k - $3.35M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,945,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $5,925,000
      Change: +101% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $4,420,000
      Change: +50% Conversion: Moderate
      MEDICAL BUILDING
      $3,900,000
      Change: +32% Conversion: Easy
      OFFICE BUILDING
      $3,650,000
      Change: +24% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,530,000
      Change: +20% Conversion: Difficult
      RETAIL STORES
      $2,680,000
      Change: -9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hoover
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.7953
    Latitude
    33.375
    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
    $56,679
    $189,660
    $765,220
    $954,880
    -
    $948,300
    $3,826,100
    $4,774,400

    Comparable in this City

    • Value Estimation
      $1,005,000
      6,174 SF

      3826 Lorna Rd

      OFFICE (GENERAL) • 6,174 SF
      3826 Lorna Rd, Birmingham, AL 35244
      View Details
    • Value Estimation
      $1,695,000
      11,000 SF

      2400 John Hawkins Pkwy

      OFFICE (GENERAL) • 11,000 SF
      2400 John Hawkins Pkwy, Hoover, AL 35244-3500
      View Details
    • Value Estimation
      $610,000
      5,307 SF

      2115 Data Park Cir

      OFFICE (GENERAL) • 5,307 SF
      2115 Data Park Cir, Birmingham, AL 35244-1252
      View Details
    • Value Estimation
      $2,895,000
      36,138 SF

      434 Emery Dr

      OFFICE (GENERAL) • 36,138 SF
      434 Emery Dr, Hoover, AL 35244-4548
      View Details
    • Value Estimation
      $740,000
      7,225 SF

      430 Emery Dr

      OFFICE (GENERAL) • 7,225 SF
      430 Emery Dr, Hoover, AL 35244-4587
      View Details
    • Value Estimation
      $1,005,000
      6,288 SF

      2481 Riv Hvn Ln

      OFFICE (GENERAL) • 6,288 SF
      2481 Riv Hvn Ln, Birmingham, AL 35244
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2.00 Acres

      Hoover Office Suites: Prime Location

      Affordable, professional office space in Hoover, AL.
      509 Mineral Trce, Hoover, AL 35244
      View Details
    • $4,500,000
      25,600 SF

      Riverchase Parkway Executive Office Building

      Class A Office, 25,600 SF, 7.20% Cap Rate
      300 Riverchase Pkwy, Hoover, AL 35244
      View Details
    • $1,500,000
      6,600 SF

      Valleydale Road Office Building

      Prime Hoover Office, 6,600 SF, 2.22 Acres
      2084 Valleydale Rd, Hoover, AL 35244
      View Details
    • $3,000,000
      58,370 SF

      Executive Office Building, Hoover, AL

      Prime Office Space, 58,370 SF, 240 Parking
      400 Chase Park, Hoover, AL 35244
      View Details
    • $3,000,000

      Suburban Office Building For Sale

      Three-story office building in Riverchase submarket with immediate occupancy.
      400 Chase Park South, Birmingham, AL 35244
      View Details
    • $1,750,000
      10,607 SF

      Southpark Drive Investment

      High-yield, NNN-leased property.
      1820 Southpark Dr, Birmingham, AL 35244
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,078 SF

      Prime Hoover Office Space Available

      Multiple Suites, Jefferson County, AL
      1855 Data Dr, Birmingham, AL 35244
      View Details
    • $18 SF/Yr
      12,416 SF

      Riverchase Ridge Executive Suites

      Hoover, AL Executive Office Space Available
      2 Riverchase Rdg, Hoover, AL 35244
      View Details
    • $16 SF/Yr
      20,000 SF

      Riverchase Executive Office Suites

      Prime Birmingham Office Space Available
      265 Riverchase Pkwy, Birmingham, AL 35244
      View Details
    • $24 SF/Yr
      211,341 SF

      Chase Corporate Center: Hoover Office Space

      Class A Office Suites, Hoover, AL
      1 Chase Corporate Dr, Birmingham, AL 35244
      View Details
    • Contact for pricing
      2,184 SF

      Southlake Plaza Office Suites

      Prime Southlake Office Space Available Now
      15 Southlake Ln, Hoover, AL 35244
      View Details
    • Contact for pricing

      Pelham Office/Warehouse Sublease Opportunity

      10,000+ SF office/warehouse sublease available in Pelham, Alabama.
      140 Business Center Dr, Birmingham, 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.
    1849 Data Dr
    Hoover, AL 35244
    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!