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    Property profile & analytics

    2034 Patton Chapel Rd Hoover, AL 35216-5770

    • Medical Office Space
    • 6,901 SF
    • 0.45 lot acres
    OFF-MARKET
    Value Estimations
    $710,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0019173
    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

    • Medical Office Space

    Property Details for 2034 Patton Chapel Rd

    Year built
    1993
    Lot size
    0.45 lot acres
    Property size
    6,901 SF
    Zone code
    C1
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    39-00-12-4-004-014.001
    APU
    3900124004014001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $922,000
      Market price range: $475k - $1.72M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,155,000
      AUTO REPAIR, GARAGE
      $1,110,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Hoover
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.8028
    Latitude
    33.3947
    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
    $12,390
    $43,520
    $136,980
    $180,500
    -
    $217,600
    $684,900
    $902,500

    Comparable in this City

    • Value Estimation by Request
      4,017 SF

      2116 Chapel Hl Rd

      MEDICAL BUILDING • 4,017 SF
      2116 Chapel Hl Rd, Hoover, AL 35216-5106
      View Details
    • Value Estimation by Request
      2,943 SF

      2000 Southwood Rd

      MEDICAL BUILDING • 2,943 SF
      2000 Southwood Rd, Vestavia Hills, AL 35216-1538
      View Details
    • Value Estimation
      $4,860,000
      49,215 SF

      200 Montgomery Hwy

      MEDICAL BUILDING • 49,215 SF
      200 Montgomery Hwy, Vestavia Hills, AL 35216-1842
      View Details
    • Value Estimation by Request
      3,190 SF

      2030 Patton Chapel Rd

      MEDICAL BUILDING • 3,190 SF
      2030 Patton Chapel Rd, Hoover, AL 35216-5770
      View Details
    • Value Estimation
      $2,175,000
      5,178 SF

      520 Montgomery Hwy

      MEDICAL BUILDING • 5,178 SF
      520 Montgomery Hwy, Vestavia Hills, AL 35216-1808
      View Details
    • Value Estimation
      $790,000
      9,697 SF

      1771 Independence Ct

      MEDICAL BUILDING • 9,697 SF
      1771 Independence Ct, Vestavia Hills, AL 35216-1258
      View Details

    Similar Nearby for Sale

    • $1,350,000

      Medical Office Space For Sale

      Located in Hoover near I-65 and Hwy. 31.
      3055 Lorna Rd, Hoover, AL 35216
      View Details
    • Contact for pricing

      Medical Office Space Available

      Medical office space in Hoover, near major highways.
      3055 Lorna Rd, Hoover, AL 35216
      View Details
    • $650,000
      0.75 Acres

      Hoover Office Building For Sale

      Office building in Hoover, Alabama, with high traffic count.
      3041 Lorna Rd, Hoover, AL 35216
      View Details
    • Contact for pricing
      1.26 Acres

      Birmingham Office Space For Lease

      Office building with small and large spaces available for lease.
      2820 Columbiana Rd, Birmingham, AL 35216
      View Details
    • $1,199,000
      4,443 SF

      Hoover Flex-Office Building For Sale

      Freestanding flex-office building with warehouse space and developable land.
      1945 Patton Chapel Rd, Hoover, AL 35216
      View Details
    • Contact for pricing

      Hoover Commercial Property For Sale

      Commercial property in Hoover with high traffic count, cash buyers only.
      3041 Lorna Rd, Hoover, AL 35216
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Vestavia Hills Office/Medical Space

      Office/medical space in a high-demographic, mixed-use shopping center.
      700 Montgomery Hwy, Vestavia Hills, AL 35216
      View Details
    • $19 SF/Yr

      Medical Office Space For Lease

      Medical office building with ample parking and signage opportunities.
      2820 Columbiana Rd, Vestavia, AL 35216
      View Details
    • Contact for pricing

      Office Spaces Available For Rent

      Office spaces available, ranging from 1,092 to 3,356 SqFt.
      1633 Montgomery Hwy, Birmingham, AL 35216
      View Details
    • Contact for pricing

      Modern Office Suite For Rent

      Renovated office suite with abundant natural light and modern amenities.
      1572 Montgomery Hwy, Hoover, AL 35216
      View Details
    • Contact for pricing

      Vestavia Parkway Office Suites Available

      Office suites for rent with utilities, janitorial, and maintenance.
      601 Vestavia Pkwy, Vestavia Hills, AL 35216
      View Details
    • Contact for pricing
      333 SF

      Suburban Office Space Available

      Professional office space in a desirable location with on-site parking.
      3288 Morgan Dr, Vestavia Hills, AL 35216
      View Details
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    2034 Patton Chapel Rd
    Hoover, AL 35216-5770
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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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