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    1878 Jeff Rd NW Huntsville, AL 35806
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    1878 Jeff Rd NW Huntsville, AL 35806

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    • Medical Office Space
    • 17,424 SF
    • 1.55 lot acres
    For Sale
    $3,660,000
    View Listing →
    Madison County Office Building For Sale
    $3,660,000
    17,424 SF

    Madison County Office Building

    17,424 SF office building in Madison County.

    1878 Jeff Rd NW, Huntsville, AL 35806
    View Listing
    Property ID
    US03-0696552
    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
    Cap Rate Potential
    6.7%
    Medical Office Space
    Location Intelligence

    Current Use by Public Records

    • Optimum Health Primary Care, LLC / Medical Clinic
    • Heritage Family Medicine / Medical Clinic
    • Thomas Scott Royster / Pediatrician / Physician
    • Scott Royster / Pediatrician / Physician
    • Allman Family Medicine PC / Medical Clinic

    Property Details for 1878 Jeff Rd NW

    Year built
    2010
    Construction
    WOOD
    Lot size
    1.55 lot acres
    Property size
    17,424 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    15-02-03-0-001-005.101
    APU
    1502030001005101

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,355,000
      ML approach
      $3,175,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,765,000
      6.5%
      $3,475,000
      7%
      $3,225,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,081,000
      Market price range: $2.88M - $4.47M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $3,525,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.7141
    Latitude
    34.8111
    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
    $17,873
    $40,480
    $452,520
    $493,000
    -
    $202,400
    $2,262,600
    $2,465,000

    Comparable in this City

    • Value Estimation
      $795,000
      3,296 SF

      7224 Governors Wnw

      MEDICAL BUILDING • 3,296 SF
      7224 Governors Wnw, Huntsville, AL 35806-2051
      View Details
    • Value Estimation
      $2,200,000
      17,332 SF

      5275 Millennium NW Dr

      MEDICAL BUILDING • 17,332 SF
      5275 Millennium NW Dr, Huntsville, AL 35806-2457
      View Details
    • Value Estimation
      $525,000
      3,962 SF

      6870 Research Park NW Blvd

      MEDICAL BUILDING • 3,962 SF
      6870 Research Park NW Blvd, Huntsville, AL 35806-1198
      View Details
    • Value Estimation
      $2,440,000
      125,845 SF

      451 Johns NW Rd

      HOMES (RETIRED, NURSING) • 125,845 SF
      451 Johns NW Rd, Huntsville, AL 35806-2941
      View Details
    • Value Estimation
      $1,230,000
      39,430 SF

      5275 Millennium NW Dr

      HOMES (RETIRED, NURSING) • 39,430 SF
      5275 Millennium NW Dr, Huntsville, AL 35806-2457
      View Details
    • Value Estimation
      $5,820,000
      40,588 SF

      360 Quality NW Cir

      OFFICE BUILDING • 40,588 SF
      360 Quality NW Cir, Huntsville, AL 35806-4548
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Huntsville Office and Lab Space

      Office and lab space with fitness facility and cafeteria.
      890 Explorer Blvd, Huntsville, AL 35806
      View Details
    • Contact for pricing

      Huntsville Manufacturing/Warehouse Space Available

      10,000 SF manufacturing/warehouse space with office and loading dock.
      1009 Putman Dr, Huntsville, AL 35806
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    • $5,000,000
      35,000 SF

      Huntsville Office Building with Lab

      Professional office building with lab space in Cummings Research Park.
      635 Discovery Dr NW, Huntsville, AL 35806
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    • Contact for pricing

      Office Building with Ample Parking

      Office building for sale with competitive lease rate.
      555 Discovery Dr, Huntsville, AL 35806
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    • $1,199,000
      7,800 SF

      Renovated Office Warehouse Space

      Renovated office warehouse in Huntsville with flexible layouts.
      3010 University Dr, Huntsville, AL 35806
      View Details
    • Contact for pricing
      38,800 SF

      Huntsville Flex/Office Investment Opportunity

      High-quality office and high-bay space near Cummings Research Park.
      133 West Park Loop NW, Huntsville, AL 35806
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Huntsville Office Suite For Lease

      Expansive 51,364 SF suite available for lease in Huntsville.
      475 Quality Cir NW, Huntsville, AL 35806
      View Details
    • Contact for pricing

      Huntsville Office Building For Lease

      25,000 SF office building available for lease in Huntsville, AL.
      4920 University Sq, Huntsville, AL 35806
      View Details
    • Contact for pricing

      Huntsville Office Space For Rent

      Two-story office buildings in Cummings Research Park available for lease.
      5025 Bradford Dr NW, Huntsville, AL 35806
      View Details
    • Contact for pricing

      Huntsville Warehouse/Production Space For Rent

      Warehouse/Production space with office and ample parking available for rent.
      7262 Governors Dr West, Huntsville, AL 35806
      View Details
    • Sponsored
      New
      Contact for pricing

      Cummings Research Park

      Discover many ways to work your way in Cummings Research Park
      7027 Old Madison Pike, Huntsville, AL 35806
      View Details
    • Contact for pricing
      41,054 SF

      Huntsville Flex Space: Progress Center #7

      Prime Huntsville location, 8,904 SF available.
      6767 Old Madison Pike, Huntsville, AL 35806
      View Details
    View Listing
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    Huntsville, AL 35806
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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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