Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2304 Bob Wallace SW Ave Huntsville, AL 35805-4715

    • Commercial land
    • 0.70 lot acres
    OFF-MARKET
    Last Sale
    Sep 23, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0642800
    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

    • Damson Automotive / Car Dealership

    Property Details for 2304 Bob Wallace SW Ave

    Lot size
    0.70 lot acres
    Property type
    Commercial land
    APN
    17-01-11-1-001-002.000
    APU
    1701111001002000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.5946
    Latitude
    34.7119
    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
    $709
    $12,220
    $0.00
    $12,220
    -
    $61,100
    $0.00
    $61,100

    Comparable in this City

    • Value Estimation by Request
      0.15 Acres

      Triana Blvd

      VACANT COMMERCIAL LAND • 0.15 Acres
      Triana Blvd, Huntsville, AL 35805
      View Details
    • Value Estimation by Request
      0.16 Acres

      Triana SW Blvd

      VACANT COMMERCIAL LAND • 0.16 Acres
      Triana SW Blvd, Huntsville, AL 35805
      View Details
    • Value Estimation by Request
      0.04 Acres

      Triana SW Blvd

      VACANT COMMERCIAL LAND • 0.04 Acres
      Triana SW Blvd, Huntsville, AL 35805
      View Details
    • Value Estimation by Request
      0.57 Acres

      3302 Westmill SW Dr

      VACANT COMMERCIAL LAND • 0.57 Acres
      3302 Westmill SW Dr, Huntsville, AL 35805-6132
      View Details
    • Value Estimation by Request
      0.46 Acres

      Mcjohn St

      VACANT COMMERCIAL LAND • 0.46 Acres
      Mcjohn St, Huntsville, AL 35805
      View Details
    • Value Estimation by Request
      0.12 Acres

      2402 Clinton W Ave

      VACANT COMMERCIAL LAND • 0.12 Acres
      2402 Clinton W Ave, Huntsville, AL 35805-3014
      View Details

    Similar Nearby for Sale

    • $1,099,900
      2,565 SF

      Prime Corner Lot in Huntsville

      Corner lot in booming area, great for developments!
      3201 Governors Dr, Huntsville, AL 35805
      View Details
    • Contact for pricing

      Land Near Entertainment District

      Commercial land in high-growth area near entertainment.
      224 Bailes St Nw, Huntsville, AL 35805
      View Details
    • $65,000
      0.40 Acres

      Huntsville Commercial/Residential Lot For Sale

      0.40-acre lot zoned commercial or residential near Redstone Arsenal.
      3911 Newson Rd SW, Huntsville, AL 35805
      View Details
    • $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
      View Details
    • $65,000
      0.40 Acres

      Huntsville Land Near Redstone Arsenal

      0.40-acre commercial/residential lot near Redstone Arsenal Gate 8.
      3911 Newson Rd, Huntsville, AL 35805
      View Details
    • $399,000
      0.75 Acres

      Huntsville Corner Lot Opportunity

      Prime .75-acre corner lot near Lowe Mill Arts District.
      2522 Roland Rd SW, Huntsville, AL 35805
      View Details

    Similar Nearby for Lease

    • $2,150 /Mo

      Renovated Office Space with Storage

      Recently renovated office space with fenced yard and storage containers.
      223 Bailes St NW, Huntsville, AL 35805
      View Details
    • $22 SF/Yr
      102,000 SF

      Premier Office Space in Huntsville

      Two-story office buildings in Cummings Research Park, ideal for high-tech.
      5025 Bradford Dr, Huntsville, AL 35805
      View Details
    • $2,850 /Mo

      Huntsville Warehouse with Updated Office

      Warehouse with office space available in central Huntsville location.
      207 Lowry St NW, Huntsville, AL 35805
      View Details
    • $2,500 /Mo
      2,036 SF

      Huntsville Office Space For Rent

      Office building near Campus 805 with ample parking.
      2613 Clinton Ave W, Huntsville, AL 35805
      View Details
    • $11,875 /Mo
      180,480 SF

      Huntsville Warehouse in Research Park

      Warehouse in Cumming Research Park, convenient location, easy access.
      103 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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2304 Bob Wallace SW Ave
    Huntsville, AL 35805-4715
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.