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223 Washington St NE Huntsville, AL 35801

Warehouses Google Maps
7,500 SF 0.34 ac lot Built 1990
Entity Owned 3-yr Hold Absentee Owner ~ Est. High Equity
Estimated value (blended)
$1.62M
Range $1.46M – $1.78M (±10%)
Property ID US03-0435712

Property summary

AI-generated overview

223 Washington Street in Huntsville, Alabama offers exceptional office space in the vibrant Lewter District. This brand-new, five-story mixed-use building, slated for completion in 2025, provides flexible office suites ranging from 2,730 to 27,544 contiguous square feet. The building features a modern design and will be delivered as a "white box," allowing for complete tenant customization. Located in the heart of downtown Huntsville, the property boasts unparalleled walkability to a diverse array of restaurants, shops, and entertainment venues, ensuring a dynamic and convenient work environment. The building's prime location also presents excellent signage opportunities. While the building itself doesn't include on-site parking, ample covered parking is conveniently located within two blocks. The first floor will be dedicated to retail space, complementing the office spaces on floors two through five. The official groundbreaking ceremony for the Lewter District is scheduled for November 20th, 2024. This is a unique opportunity to secure space in a state-of-the-art building in a thriving downtown area. Contact us today to learn more about leasing options and availability.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1990
Total area 7,500 SF
Lot 0.34 ac (14,862 SF)
APN 14-07-36-3-002-019.000
UPID US03-0435712

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.63M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.62M

Owner & transaction history

since 2023
Last sale
$1.7M
1 recorded transaction
2023
$1.7M

Zoning & alternative use

Top alternative use upside
Medical building $1.6M +221.3%
Office building $1.4M +182.1%
Commercial (general) $1.1M +121.7%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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