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    250 Riverchase E Pkwy, Unit 600 Hoover, AL 35244-1832
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    Property profile & analytics

    250 Riverchase E Pkwy, Unit 600, Hoover, AL 35244-1832

    View on Map
    • Office buildings
    • 241,163 SF
    • 53.00 lot acres
    Off-Market
    Last Sale Jan 18, 2024
    Property ID
    US03-0838676
    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.
    Value Estimations
    $45,840,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 250 Riverchase E Pkwy

    Year built
    1995
    Lot size
    53.00 lot acres
    Property type
    Office buildings
    APN
    104190001001029
    APU
    104190001001029

    Description

    This exceptional 90-acre commercial land parcel presents a unique investment opportunity in the thriving city of Hoover, Alabama. Located at 250 Riverchase Pkwy E, this single-tenant property offers unparalleled potential for large-scale development. The expansive lot size provides ample space for a variety of commercial ventures, catering to diverse business needs. Situated in Shelby County, this property benefits from excellent access to major transportation routes, ensuring convenient connectivity for businesses and employees. The address, 250 Riverchase Pkwy E, Hoover, AL 35244, places the land in a high-visibility area with significant potential for attracting a wide customer base. With its substantial acreage and strategic location, this property is ideal for developers seeking a prime location to build a substantial commercial project. The property is designated for commercial use and is available for lease. The sheer scale of the land allows for flexibility in design and development, accommodating a range of commercial building sizes and configurations. This is a rare opportunity to acquire a significant land holding in a highly desirable area of Hoover, offering exceptional long-term growth potential. The property's size and location make it an attractive proposition for businesses seeking a prominent presence in a rapidly growing market. Detailed site plans and zoning information are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $45,842,000
      Market price range: $26.1M - $54.0M
      AI Estimate
      $45,842,000
      Market price range: $26.1M - $54.0M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $40,170,000
      Current use
      MEDICAL BUILDING
      $44,075,000
      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
    -86.7814
    Latitude
    33.3623
    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
    $570,201
    $0.00
    $0.00
    $8,529,340
    -
    $5,402,310
    $37,244,300
    $42,646,610

    Comparable in this City

    • Value Estimation by Request
      442,000 SF

      2020 Valleydale Rd

      OFFICE BUILDING
      2020 Valleydale Rd, Hoover, AL 35244-2024
      View Details
    • Value Estimation
      $690,000
      5,731 SF

      2070 Valleydale Rd

      OFFICE BUILDING
      2070 Valleydale Rd, Hoover, AL 35244-2093
      View Details
    • Value Estimation
      $3,410,000
      26,138 SF

      2188 Pkwy Lk Dr

      OFFICE BUILDING
      2188 Pkwy Lk Dr, Hoover, AL 35244-1803
      View Details
    • Value Estimation
      $2,455,000
      10,971 SF

      2183 Pkwy Lk Dr

      OFFICE BUILDING
      2183 Pkwy Lk Dr, Hoover, AL 35244-1804
      View Details
    • Value Estimation by Request
      1,490 SF

      1500 Southlake Park Ste, Unit 150

      OFFICE BUILDING
      1500 Southlake Park Ste, Hoover, AL 35244-3461
      View Details
    • Value Estimation
      $790,000
      6,150 SF

      300 Shadow Wood Park

      OFFICE BUILDING
      300 Shadow Wood Park, Hoover, AL 35244-3401
      View Details

    Similar Nearby for Sale

    • $3,000,000

      Suburban Office Building For Sale

      Three-story office building in Riverchase submarket with immediate occupancy.
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      View Details
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      9,962 SF

      Professional Office Building For Sale

      9,962 SF office building on 1.07 acres in Hoover.
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      25,600 SF

      Riverchase Business Park For Sale

      Office property in Riverchase Business Park, Hoover sub-market.
      300 Riverchase Pkwy E, Birmingham, AL 35244
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    • $4,750,000

      Office Building with Warehouse Space

      Two-story office building with warehouse in Hoover, Alabama.
      2111 Parkway Office Cir, Hoover, AL 35244
      View Details
    • Contact for pricing
      58,370 SF

      Suburban Office Building For Sale

      Three-story office building in Riverchase submarket, Birmingham MSA.
      400 Chase Park S, Birmingham, AL 35244
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      2.00 Acres

      Hoover Office Suites: Prime Location

      Affordable, professional office space in Hoover, AL.
      509 Mineral Trce, 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
    • Contact for pricing

      Riverchase Office Building For Rent

      20,000 SF office building in Hoover's Riverchase development.
      265 Riverchase Pkwy E, 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
    • $19 SF/Yr

      Professional Office Space Available

      Flexible office suites in Hoover, Alabama, with modern conveniences.
      800 Concourse Pkwy, Hoover, AL 35244
      View Details
    • Contact for pricing

      Professional Office Space Available

      Divisible office space with conference room and parking.
      800 Concourse Pkwy, Hoover, AL 35244
      View Details
    • Contact for pricing

      Pelham Retail and Office Space

      Located on Old Montgomery Highway near Valleydale Road intersection.
      2051 Old Montgomery Hwy, Pelham, AL 35244
      View Details
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    Hoover, AL 35244-1832
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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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