2189 Pkwy Lk Dr Hoover, AL 35244-1804
Property profile & analytics
2189 Pkwy Lk Dr Hoover, AL 35244-1804
- Office buildings
- 12,393 SF
- 1.12 lot acres
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.
Location Intelligence
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 Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,340,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,320,000
- 6.5%
- $2,140,000
- 7%
- $1,990,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,342,000
- AI Estimate
- $1,342,000
Market price range: $1.34M - $2.78MMarket price range: $1.34M - $2.78M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $2,065,000 Current use
- MEDICAL BUILDING
- $2,265,000 Change: +10% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
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
