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    Property profile & analytics

    2363 Lakeside Dr Birmingham, AL 35244-3426

    • Office buildings
    • 2,013 SF
    • 0.90 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0808357
    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

    • Traffic Solutions LLC / Engineering Consultant / Engineer
    • Tipton Stella K / Law Firm
    • Palmer Julie A / Law Firm
    • Patterson Power Products / Building Supply / Electrical Service
    • The Tipton Law firm LLC / Law Firm

    Property Details for 2363 Lakeside Dr

    Year built
    1993
    Lot size
    0.90 lot acres
    Property size
    2,013 SF
    Property type
    Office buildings
    APN
    105210002005001
    APU
    105210002005001

    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
    Birmingham
    County
    Shelby
    State
    Alabama
    Longitude
    -86.7602
    Latitude
    33.3716
    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
    $2,482
    $0.00
    $0.00
    $56,420
    -
    $105,910
    $176,160
    $282,070

    Comparable in this City

    • Value Estimation
      $14,375,000
      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
      $1,490,000
      11,224 SF

      Birmingham, AL 35244

      OFFICE BUILDING • 11,224 SF
      Birmingham, AL 35244
      View Details
    • Value Estimation
      $2,080,000
      19,200 SF

      300 Chase S Park

      OFFICE BUILDING • 19,200 SF
      300 Chase S Park, Hoover, AL 35244-1887
      View Details
    • Value Estimation
      $825,000
      5,428 SF

      3 Riverchase Rdg

      OFFICE BUILDING • 5,428 SF
      3 Riverchase Rdg, Hoover, AL 35244-2893
      View Details
    • Value Estimation
      $4,620,000
      26,090 SF

      1 Riverchase Rdg

      OFFICE BUILDING • 26,090 SF
      1 Riverchase Rdg, Hoover, AL 35244-2869
      View Details

    Similar Nearby for Sale

    • $3,000,000

      Suburban Office Building For Sale

      Three-story office building in Riverchase submarket with immediate occupancy.
      400 Chase Park South, Birmingham, AL 35244
      View Details
    • $4,750,000

      Office Building with Warehouse Space

      Two-story office building with warehouse in Hoover, Alabama.
      2111 Parkway Office Cir, 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
      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
      View Details
    • $4,500,000
      25,600 SF

      Riverchase Parkway Executive Office Building

      Class A Office, 25,600 SF, 7.20% Cap Rate
      300 Riverchase Pkwy, Hoover, AL 35244
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr

      Riverchase Center Office Space Available

      Office space for rent in a convenient Birmingham location.
      2100 Riverchase Pkwy, Birmingham, AL 35244
      View Details
    • $22 SF/Yr

      Class A Office Space

      Class A office space in mixed-use Riverchase Galleria complex.
      3000 Riverchase Ctr, Hoover, AL 35244
      View Details
    • Contact for pricing

      Pelham Office/Warehouse Sublease Opportunity

      10,000+ SF office/warehouse sublease available in Pelham, Alabama.
      140 Business Center Dr, Birmingham, AL 35244
      View Details
    • $19 SF/Yr
      16,930 SF

      Hoover Medical Office Building

      16,930 SF Medical Office Space Available
      800 Concourse Pkwy, Hoover, AL 35244
      View Details
    • $10 SF/Yr

      Move-in Ready Office Space Available

      Second-floor office space with ample parking and convenient location.
      2012 Old Montgomery Hwy, Pelham, AL 35244
      View Details
    • $19 SF/Yr
      30,000 SF

      Hoover Office Space for Lease

      Prime Office Space in Pelham
      1849 Data Dr, Hoover, AL 35244
      View Details
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    2363 Lakeside Dr
    Birmingham, AL 35244-3426
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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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