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    Property profile & analytics

    243 Royal Dr Madison, AL 35758-1788

    • Retail properties
    • 22,475 SF
    • 5.54 lot acres
    OFF-MARKET
    Value Estimations
    $700,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0800329
    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

    • International Fire Protection, Inc. / Fire Protection Equipment Supplier / Fire Protection System Supplier
    • Bradley Jennifer CPA / Accountant
    • BBC Systems Inc-Accounting / Accountant

    Property Details for 243 Royal Dr

    Year built
    1996
    Lot size
    5.54 lot acres
    Property size
    22,475 SF
    Property type
    Retail properties
    APN
    16-04-20-2-000-049.001
    APU
    1604202000049001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $680,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,031,000
      Market price range: $841k - $1.98M

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Madison
    State
    Alabama
    Longitude
    -86.7632
    Latitude
    34.681
    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
    $16,643
    $72,420
    $164,380
    $236,800
    -
    $362,100
    $821,900
    $1,184,000

    Comparable in this City

    • Value Estimation
      $365,000
      6,000 SF

      217 Palmer Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 6,000 SF
      217 Palmer Rd, Madison, AL 35758
      View Details
    • Value Estimation
      $410,000
      8,750 SF

      241 Production Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 8,750 SF
      241 Production Ave, Madison, AL 35758-8991
      View Details
    • Value Estimation by Request
      3,474 SF

      8670 Highway 72

      Restaurants • 3,474 SF
      8670 Highway 72, Madison, AL 35758
      View Details
    • Value Estimation by Request
      25.00 Acres

      1 County Line Rd

      Retirement homes • 1,089,000 SF
      1 County Line Rd, Huntsville, AL 35758
      View Details
    • Value Estimation
      $2,655,000
      25,600 SF

      9059 Madison Blvd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 25,600 SF
      9059 Madison Blvd, Madison, AL 35758-3109
      View Details
    • Value Estimation
      $525,000
      8,099 SF

      37 Hughes Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 8,099 SF
      37 Hughes Rd, Madison, AL 35758-2238
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Madison Retail Redevelopment Opportunity

      High-visibility storefront, prime Madison location.
      7425 Highway 72, Madison, AL 35758
      View Details
    • Contact for pricing
      3,667 SF

      Madison Blvd Retail/Office Opportunity

      High-traffic location, 3,667 SF, Alabama.
      8926 Madison Blvd, Madison, AL 35758
      View Details
    • $1,773,800
      4.90 Acres

      Huntsville Land on Major Highway

      4.9 acres on Highway 72 West with high traffic count.
      4.9 Acres Hwy 72 West, Huntsville, AL 35758
      View Details
    • Contact for pricing
      3,865 SF

      Madison Retail Redevelopment Opportunity

      Prime Hwy 72 QSR/Restaurant Site
      7885 Us Highway 72, Madison, AL 35758
      View Details
    • $859,000
      2.05 Acres

      Commercial Property in Madison, Alabama

      Commercial property in Madison, Alabama, suitable for various businesses.
      401 Slaughter Rd, Madison, AL 35758
      View Details
    • Contact for pricing

      Freestanding Building on Highway 72

      3,865 SF freestanding building with double lane drive-thru.
      7885 Highway 72, Madison, AL 35758
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,150 SF

      Madison Market Retail Spaces

      High-traffic retail spaces in Madison, AL
      97 Hughes Rd, Madison, AL 35758
      View Details
    • Contact for pricing
      1,700 SF

      Madison Retail Space Available

      1,700 SF Retail Space in Prime Location
      8141 Us Highway 72, Madison, AL 35758
      View Details
    • Contact for pricing
      10,000 SF

      Madison Retail Center: Prime Location

      Three retail spaces available, high traffic area.
      92 Shorter St, Madison, AL 35758
      View Details
    • $40 SF/Yr
      9,960 SF

      Madison County Medical Office Space

      Class A, 6,690 SF Available, Alabama
      11743 County Line Rd, Madison, AL 35758
      View Details
    • Contact for pricing
      7,505 SF

      Madison Executive Office Space

      Prime Madison location, 1,905 sq ft available
      1884 Slaughter Rd, Madison, AL 35758
      View Details
    • Contact for pricing
      2,571 SF

      Madison Retail Space: The Dempsey

      Prime Madison retail space, 2,571 sq ft.
      375 Lime Quarry Rd, Madison, AL 35758
      View Details
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    243 Royal Dr
    Madison, AL 35758-1788
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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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