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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2051 Max Luther NW Dr Huntsville, AL 35810-3814

    • Office buildings
    • 3,450 SF
    • 0.34 lot acres
    OFF-MARKET
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0585315
    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

    • Wilson's Office Supply / (Bike/Boat/Book/etc) Store
    • ABC Premier Insurance, llc / Insurance Agency

    Property Details for 2051 Max Luther NW Dr

    Year built
    1988
    Construction
    WOOD
    Lot size
    0.34 lot acres
    Property size
    3,450 SF
    Property type
    Office buildings
    APN
    14-06-23-4-000-056.000
    APU
    1406234000056000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $618,000
      Market price range: $317k - $914k
      AI Estimate
      $371,000
      Market price range: $190k - $535k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $550,000
      Current use
      MEDICAL BUILDING
      $700,000
      Change: +27% Conversion: Easy
      RETAIL STORES
      $530,000
      Change: -3% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $510,000
      Change: -7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.5967
    Latitude
    34.758
    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
    $4,167
    $8,880
    $62,960
    $71,840
    -
    $44,400
    $314,800
    $359,200

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      2910 Pike NW Ave

      OFFICE BUILDING • 2,400 SF
      2910 Pike NW Ave, Huntsville, AL 35810-3845
      View Details
    • Value Estimation
      $1,050,000
      4,930 SF

      4950 Memorial NW Pkwy

      OFFICE BUILDING • 4,930 SF
      4950 Memorial NW Pkwy, Huntsville, AL 35810-2412
      View Details
    • Value Estimation
      $550,000
      4,480 SF

      2417 Mastin Lk NW Rd

      OFFICE BUILDING • 4,480 SF
      2417 Mastin Lk NW Rd, Huntsville, AL 35810-2807
      View Details
    • Value Estimation
      $1,200,000
      5,731 SF

      2075 Max Luther NW Dr

      OFFICE BUILDING • 5,731 SF
      2075 Max Luther NW Dr, Huntsville, AL 35810-3859
      View Details
    • Value Estimation by Request
      3,696 SF

      2909 Pike NW Ave

      OFFICE BUILDING • 3,696 SF
      2909 Pike NW Ave, Huntsville, AL 35810-3886
      View Details
    • Value Estimation
      $1,665,000
      7,934 SF

      4015 Pulaski NW Pike

      OFFICE BUILDING • 7,934 SF
      4015 Pulaski NW Pike, Huntsville, AL 35810-1901
      View Details

    Similar Nearby for Sale

    • $695,000
      3,000 SF

      Huntsville Medical Office Building

      Prime location, 3,000 sq ft, 100% occupied.
      4815 Sparkman Dr, Huntsville, AL 35810
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    • $2,000,000
      9.50 Acres

      Huntsville Industrial Land - $2M

      9.5-acre commercial property, prime highway location.
      10116 Memorial Pkwy, Huntsville, AL 35810
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    • $89,000
      0.21 Acres

      Huntsville Light Industrial Lot

      Prime 0.21-acre lot, ideal for owner-users.
      0 Trade Dr, Huntsville, AL 35810
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    • Contact for pricing

      Huntsville Land Parcel For Sale

      8.81 acres in North West Huntsville near future PGA Resort.
      Kelly Cemetery Rd, Huntsville, AL 35810
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    • $1,300,000
      13 SF

      Huntsville Land Parcel For Sale

      13.46 acre site suitable for industrial or residential development.
      Mastin Lake Rd NE, Huntsville, AL 35810
      View Details
    • Contact for pricing

      Huntsville Corner Lot For Sale

      Corner lot with high visibility and convenient access.
      SW Cor Of Holw Rd & Meridian St, Huntsville, AL 35810
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      6,600 SF

      Hampton Cove Office/Warehouse Space

      6,600 SF office/warehouse with highway frontage and flexible zoning.
      5535 Alabama 431, Huntsville, AL 35810
      View Details
    • $1,500 /Mo
      11,700 SF

      Huntsville Office/Retail Plaza For Rent

      Multi-tenant plaza with leasable space, strong visibility, and on-site parking.
      4206 NW Oakwood Ave, Huntsville, AL 35810
      View Details
    • $12 SF/Yr
      4,053 SF

      Oakwood Shopping Center Retail Space

      Huntsville retail space, high traffic location.
      2501 Oakwood Ave, Huntsville, AL 35810
      View Details
    • Contact for pricing
      15,007 SF

      Huntsville Office Space For Rent

      Office suites with signage and walkable to amenities for lease.
      3202-3208 Memorial Pkwy, Huntsville, AL 35810
      View Details
    • Contact for pricing
      1 SF

      Prime 4.5-Acre Commercial Land

      Exceptional Corner Lot, High Visibility
      0 Memorial Pkwy, Huntsville, AL 35810
      View Details
    • Contact for pricing

      Prime Corner Lot for Lease

      4.88 acre corner lot available for ground lease.
      | North Memorial Pkwy, Huntsville, AL 35810
      View Details
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    Huntsville, AL 35810-3814
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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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