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    Property profile & analytics

    2189 Pkwy Lk Dr Hoover, AL 35244-1804

    • Office buildings
    • 12,393 SF
    • 1.12 lot acres
    OFF-MARKET
    Value Estimation
    $1,530,000
    Last Sale
    May 02, 2025
    $1,865,000
    Location Intelligence
    Property ID
    US03-0476864
    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 buildings

    Property Details for 2189 Pkwy Lk Dr

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.12 lot acres
    Property size
    12,393 SF
    Property type
    Office buildings
    APN
    104190001001022
    APU
    104190001001022

    Description

    This exceptional two-story, Class B office building, totaling 12,393 square feet, is situated on a 1.12-acre lot at 2189 Parkway Lake Drive in Hoover, Alabama (zip code 35244). Currently 100% occupied with a single tenant under a gross lease, the property boasts a strong 7.10% cap rate and an asking price of $1,905,000 ($153.72/sq ft). The building, constructed in 1988 and extensively renovated between 2019 and 2021, offers a blend of executive and traditional office spaces. The upper floor comprises approximately 7,290 square feet, while the ground floor features roughly 5,103 square feet, including over 2,500 square feet of warehouse space with 14-foot clear heights. Ample parking is provided with 38 spaces. The property's prime location in Shelby County, between Highway 31 and Riverchase Parkway East, offers easy access to I-65 and is only 18 minutes from downtown Birmingham, placing it within a thriving business hub near numerous corporate headquarters. The current lease expires August 1, 2024, and includes a 2.5% annual rent escalation. This investment opportunity is priced below replacement cost, presenting a compelling return for investors.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,340,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,710,000
      6.5%
      $1,840,000
      7%
      $1,745,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,810,000
      Geo Method
      $1,710,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,530,000
      Retail
      $1,595,000
      Mixed-Use
      $1,705,000
      Hospitality
      $1,535,000
      Educational
      $2,095,000
      Residential Income
      $2,035,000
      Energy
      $1,860,000
      Income-Based Land
      $1,580,000
      Food Service
      $2,055,000

    Location Insight

    • Map
    • Local Demand
    City
    Hoover
    County
    Shelby
    State
    Alabama
    Longitude
    -86.7894
    Latitude
    33.3605
    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
    2023
    $15,985
    $0.00
    $0.00
    $238,320
    -
    $304,430
    $887,150
    $1,191,580

    Comparable in this City

    • Value Estimation by Request
      132,698 SF

      100 Concourse Pkwy

      OFFICE BUILDING • 132,698 SF
      100 Concourse Pkwy, Hoover, AL 35244-1881
      View Details
    • Value Estimation by Request
      1,012 SF

      2408 Valleydale Rd

      OFFICE BUILDING • 1,012 SF
      2408 Valleydale Rd, Hoover, AL 35244-2015
      View Details
    • Value Estimation by Request
      11,224 SF

      Birmingham, AL 35244

      OFFICE BUILDING • 11,224 SF
      Birmingham, AL 35244
      View Details
    • Value Estimation by Request
      19,200 SF

      300 Chase S Park

      OFFICE BUILDING • 19,200 SF
      300 Chase S Park, Hoover, AL 35244-1887
      View Details
    • Value Estimation by Request
      2,013 SF

      2363 Lakeside Dr

      OFFICE BUILDING • 2,013 SF
      2363 Lakeside Dr, Birmingham, AL 35244-3426
      View Details
    • Value Estimation by Request
      5,428 SF

      3 Riverchase Rdg

      OFFICE BUILDING • 5,428 SF
      3 Riverchase Rdg, Hoover, AL 35244-2893
      View Details

    Similar Nearby for Sale

    • $4,750,000

      Office Building with Warehouse Space

      Two-story office building with warehouse in Hoover, Alabama.
      2111 Parkway Office Cir, Birmingham, AL 35244
      View Details
    • $1,750,000
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      Southpark Drive Investment

      High-yield, NNN-leased property.
      1820 Southpark Dr, Birmingham, AL 35244
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    • $4,500,000
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      Riverchase Parkway Executive Office Building

      Class A Office, 25,600 SF, 7.20% Cap Rate
      300 Riverchase Pkwy, Hoover, AL 35244
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    • $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
    • $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
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    • Contact for pricing
      2.00 Acres

      Hoover Office Suites: Prime Location

      Affordable, professional office space in Hoover, AL.
      509 Mineral Trce, Hoover, AL 35244
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    Similar Nearby for Lease

    • Contact for pricing
      2,184 SF

      Southlake Plaza Office Suites

      Prime Southlake Office Space Available Now
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      Chase Corporate Center: Hoover Office Space

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    • $18 SF/Yr
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      Riverchase Ridge Executive Suites

      Hoover, AL Executive Office Space Available
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    • $19 SF/Yr
      3,200 SF

      Prime Hoover Office Space

      1,598 SF Executive Office Suite; Valleydale Rd.
      2344 Valleydale Rd, Birmingham, AL 35244
      View Details
    • $16 SF/Yr
      20,000 SF

      Riverchase Executive Office Suites

      Prime Birmingham Office Space Available
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      View Details
    • Contact for pricing
      4,000 SF

      Office/Retail Center in High-Traffic Area

      Office/retail spaces available in a well-located, high-traffic center.
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      View Details
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    Hoover, AL 35244-1804
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    Realmo Value Estimation

    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.

    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.

    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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