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    Property profile & analytics

    2109 Bob Wallace SW Ave Huntsville, AL 35805-4790

    • Investment properties
    • 3,977 SF
    • 0.48 lot acres
    OFF-MARKET
    Last Sale
    Feb 24, 2020
    Value Estimations
    $675,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0446004
    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

    • Rock Bottom Carpets / Carpet & Flooring Store / Hardware & Home Improvement
    • Window Depot USA of Huntsville AL / Hardware & Home Improvement / Interior Design
    • Priscilla's African Apparel / Clothing Store

    Property Details for 2109 Bob Wallace SW Ave

    Year built
    1962
    Construction
    MIXED
    Lot size
    0.48 lot acres
    Property size
    3,977 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    17-01-11-1-000-020.000
    APU
    1701111000020000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $800,000
      6.5%
      $740,000
      7%
      $685,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $670,000
      Market price range: $200k - $670k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $590,000
      Current use
      MEDICAL BUILDING
      $805,000
      Change: +37% Conversion: Easy
      RETAIL STORES
      $610,000
      Change: +4% Conversion: Easy
      OFFICE BUILDING
      $575,000
      Change: -3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.593
    Latitude
    34.7109
    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
    $4,741
    $8,300
    $73,440
    $81,740
    -
    $41,500
    $367,200
    $408,700

    Comparable in this City

    • Value Estimation
      $1,740,000
      22,875 SF

      2905 Bob Wallace SW Ave

      STORE/OFFICE (MIXED USE) • 22,875 SF
      2905 Bob Wallace SW Ave, Huntsville, AL 35805-4176
      View Details
    • Value Estimation
      $930,000
      5,495 SF

      3312 Governors SW Dr

      STORE/OFFICE (MIXED USE) • 5,495 SF
      3312 Governors SW Dr, Huntsville, AL 35805-3634
      View Details
    • Value Estimation
      $670,000
      4,000 SF

      2006 Triana SW Blvd

      STORE/OFFICE (MIXED USE) • 4,000 SF
      2006 Triana SW Blvd, Huntsville, AL 35805-3676
      View Details
    • Value Estimation by Request
      254 SF

      2214 Clinton W Ave

      STORE/OFFICE (MIXED USE) • 254 SF
      2214 Clinton W Ave, Huntsville, AL 35805
      View Details
    • Value Estimation
      $540,000
      9,166 SF

      3306 Governors SW Dr

      STORE/OFFICE (MIXED USE) • 9,166 SF
      3306 Governors SW Dr, Huntsville, AL 35805-3634
      View Details
    • Value Estimation
      $930,000
      5,129 SF

      3011 Bob Wallace SW Ave

      STORE/OFFICE (MIXED USE) • 5,129 SF
      3011 Bob Wallace SW Ave, Huntsville, AL 35805-4001
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      962 SF

      Huntsville Office Space - Prime Location

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      Huntsville Commercial Land

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      Huntsville Investment Opportunity

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      56,963 SF

      Newly Built Holiday Inn Express

      98-room Holiday Inn Express & Suites in Huntsville, Alabama.
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    • $90,000
      0.18 Acres

      Huntsville Land For Sale

      0.18 acre commercial land available in Huntsville, Alabama.
      4303 9Th Ave SW, Huntsville, AL 35805
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    Similar Nearby for Lease

    • Contact for pricing
      47,255 SF

      Huntsville Executive Office Space

      8,000 SF Available in Cummings Research Park
      4955 Corporate Dr, Huntsville, AL 35805
      View Details
    • $16 SF/Yr
      65,000 SF

      Prime Huntsville Executive Office Space

      Class A Office, 9,000-65,000 SF Available
      215 Wynn Dr, Huntsville, AL 35805
      View Details
    • $8 SF/Yr

      Huntsville Flex Space Available

      Flex space centrally located with convenient access, available Q1 2024.
      215 Bailes St Nw, Huntsville, AL 35805
      View Details
    • $9 SF/Yr
      223,500 SF

      Huntsville Industrial Flex Campus

      Industrial flex campus in Cummings Research Park, with multiple buildings.
      140 Sparkman Dr Northwest, Huntsville, AL 35805
      View Details
    • $12,375 /Mo
      140,000 SF

      Huntsville Office Building For Rent

      Full-service office building in Cummings Research Park, Huntsville, Alabama.
      215 Wynn Dr, Huntsville, AL 35805
      View Details
    • Contact for pricing
      35,360 SF

      Anthem House: Huntsville Office Suites

      MidCity District: Premium Office Space
      945 Mid City Dr, Huntsville, AL 35805
      View Details
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    Huntsville, AL 35805-4790
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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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