Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2506 Lurleen B Wallace Blvd Northport, AL 35476-3953
    Back to Search
    Property profile & analytics

    2506 Lurleen B Wallace Blvd, Northport, AL 35476-3953

    View on Map
    • Office buildings
    • 1,914 SF
    • 0.30 lot acres
    Off-Market
    Property ID
    US03-1088746
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 2506 Lurleen B Wallace Blvd

    Year built
    1946
    Lot size
    0.30 lot acres
    Zone code
    C-3
    Property type
    Office buildings
    APN
    31-02-10-3-016-013.000
    APU
    3102103016013000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 5, 2019 $275,000 Terry Wheatley Eulalia Domingo Bartolome Warranty Deed —
    Jun 12, 2018 $250,000 Eulalia Domingo Bartolome Carolyn Chenault Brown Warranty Deed —
    Jun 12, 2018 — Carolyn Chenault Brown Barbara Smith Chenault Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Northport
    County
    Tuscaloosa
    State
    Alabama
    Longitude
    -87.577
    Latitude
    33.2335
    CBSA code
    46220
    CBSA name
    TUSCALOOSA, 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
    $0.00
    $18,500
    $29,200
    $47,700
    -
    $92,500
    $146,000
    $238,500

    Comparable in this City

    • Value Estimation by Request
      783 SF

      Martin Luther King Jr Blvd

      OFFICE BUILDING
      Martin Luther King Jr Blvd, Northport, AL 35476
      View Details
    • Value Estimation by Request
      862 SF

      Mcfarland Blvd

      OFFICE BUILDING
      Mcfarland Blvd, Northport, AL 35476
      View Details
    • Value Estimation by Request
      1,341 SF

      1007 Brg Ave

      OFFICE BUILDING
      1007 Brg Ave, Northport, AL 35476-4859
      View Details
    • Value Estimation by Request
      1,645 SF

      2108 Lurleen B Wallace Blvd

      OFFICE BUILDING
      2108 Lurleen B Wallace Blvd, Northport, AL 35476-3948
      View Details
    • Value Estimation
      $875,000
      8,429 SF

      Marina Dr

      OFFICE BUILDING
      Marina Dr, Northport, AL 35476
      View Details
    • Value Estimation
      $1,640,000
      14,807 SF

      Marina Dr

      OFFICE BUILDING
      Marina Dr, Northport, AL 35476
      View Details

    Similar Nearby for Sale

    • $499,900

      Northport Commercial Land For Sale

      4 acres of commercial land in a high-growth area.
      82 5Th St, Northport, AL 35476
      View Details
    • Contact for pricing
      4,020 SF

      Northport Medical/Office Building For Sale

      4,020 SF medical/office building with 18 parking spaces.
      2401 Hospital Dr, Northport, AL 35476
      View Details
    • $599,000
      3,193 SF

      Downtown Northport Mixed-Use Gem

      Historic building, 3193 sq ft, $599,000
      315 Main Ave, Northport, AL 35476
      View Details
    • Contact for pricing
      58,035 SF

      Retail Space in Northport, AL

      Retail space available for sale in Northport, Alabama.
      5510 Mcfarland Blvd, Northport, AL 35476
      View Details
    • Contact for pricing

      Corner Lot in Riverfront Park

      Commercial land for sale with road frontage and utilities.
      1184 Rice Mine Rd N, Northport, AL 35476
      View Details

    Similar Nearby for Lease

    • $1,750 /Mo
      1,500 SF

      Northport Retail or Office Space

      Retail or office space available in Northport, Alabama.
      3120 Mcfarland Blvd, Northport, AL 35476
      View Details
    • Contact for pricing

      Class A Office Space Available

      Office suites for lease in desirable Northport location.
      1300 Mcfarland Blvd N, Northport, AL 35476
      View Details
    • New
      $2,500 /Mo
      1,532 SF

      Flex Space Lease with Garage Door

      Open-concept lobby, office, and restroom layout with an industrial garage door for practical flex use.
      401 20Th Ave, Northport, AL 35476
      View Details
    • $5,250 /Mo
      2,035 SF

      Northport Retail/Restaurant Space Available

      2,035 SF former restaurant space for lease in Northport.
      2701 Lurleen B Wallace Blvd, Northport, AL 35476
      View Details
    • $3,500 /Mo
      3,000 SF

      Northport Retail Space For Rent

      3,000 SF retail space available in Northport, Alabama.
      230 Mcfarland Blvd, Northport, AL 35476
      View Details
    • $25 SF/Yr
      3,500 SF

      Retail Space in Growing Northport

      3,500 SF retail space in a busy Northport center.
      5550 Mcfarland Blvd, Northport, AL 35476
      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.
    2506 Lurleen B Wallace Blvd
    Northport, AL 35476-3953
    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

    Thank You for Inquiry
    2506 Lurleen B Wallace Blvd, Northport, AL, 35476
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!