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

    2691 Pelham Pkwy Pelham, AL 35124

    • Investment properties
    • 13,776 SF
    • 1.84 lot acres
    For Lease
    View listing
    $19 SF/Yr
    Last Sale
    Dec 28, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1817366
    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

    • Accelerated Physical Therapy / Physical Therapist
    • Alfa Insurance / Auto Insurance Agency / Dental Insurance Agency
    • Sapp's Fitness Garage / Gym
    • Cakes Las Comadres / Restaurant / Cake Shop
    • Penske Truck Rental / Moving And Storage Service / Truck Rental Agency

    Property Details for 2691 Pelham Pkwy

    Year built
    2006
    Lot size
    1.84 lot acres
    Property size
    13,776 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    131121001004003
    APU
    131121001004003

    Description

    This exceptional 1,700 square foot retail space is located at 2691 Pelham Parkway in Pelham, Alabama, zip code 35124. The property, built in 2006, is situated on a 4-lane divided highway with a median cut and four-way traffic light, ensuring high visibility and accessibility. Boasting abundant parking and a prime location in a high-growth area, this single-tenant space offers excellent exposure to a substantial daily traffic count of 33,990 vehicles. Convenient access to Interstate 65 via exits 246 or 242 further enhances its strategic advantage. The building itself is a 13,800 square foot, single-story strip mall zoned B-2 by the City of Pelham. The unit features both front and rear doors, allowing for convenient access and flexibility. Prominent marquee signage on Pelham Parkway and additional façade signage opportunities provide exceptional branding potential. This property presents a unique opportunity for businesses seeking high visibility and convenient access in a thriving Alabama market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,201,000
      Market price range: $867k - $3.41M
      AI Estimate
      $2,201,000
      Market price range: $867k - $3.41M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,785,000
      Current use
      MEDICAL BUILDING
      $2,520,000
      Change: +41% Conversion: Easy
      RETAIL STORES
      $1,720,000
      Change: -4% Conversion: Easy
      OFFICE BUILDING
      $1,695,000
      Change: -5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Pelham
    County
    Shelby
    State
    Alabama
    Longitude
    -86.7994
    Latitude
    33.3149
    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
    $22,246
    $0.00
    $0.00
    $383,560
    -
    $668,300
    $1,249,500
    $1,917,800

    Comparable in this City

    • Value Estimation
      $1,825,000
      11,511 SF

      Pelham, AL 35124

      STORE/OFFICE (MIXED USE) • 11,511 SF
      Pelham, AL 35124
      View Details
    • Value Estimation
      $2,500,000
      24,688 SF

      2591 Pelham Pkwy

      STORE/OFFICE (MIXED USE) • 24,688 SF
      2591 Pelham Pkwy, Pelham, AL 35124-1320
      View Details
    • Value Estimation by Request
      1,086 SF

      3557 Pelham Pkwy

      STORE/OFFICE (MIXED USE) • 1,086 SF
      3557 Pelham Pkwy, Pelham, AL 35124-2011
      View Details
    • Value Estimation
      $1,320,000
      10,000 SF

      Pelham, AL 35124

      STORE/OFFICE (MIXED USE) • 10,000 SF
      Pelham, AL 35124
      View Details
    • Value Estimation
      $1,105,000
      10,230 SF

      206 Oak Mtn Cir

      STORE/OFFICE (MIXED USE) • 10,230 SF
      206 Oak Mtn Cir, Pelham, AL 35124-1357
      View Details
    • Value Estimation
      $2,475,000
      11,250 SF

      2180 Pelham Pkwy

      STORE/OFFICE (MIXED USE) • 11,250 SF
      2180 Pelham Pkwy, Pelham, AL 35124-1118
      View Details

    Similar Nearby for Sale

    • $289,900
      1.73 Acres

      Commercial Property in Pelham, Alabama

      1.73-acre commercial property suitable for office, retail, or mixed-use.
      3280 Highway 52, Pelham, AL 35124
      View Details
    • $175,000
      7.87 Acres

      Pelham, AL Residential Land - $175K

      7.87-acre residential lot, prime location.
      0 Mid Ridge Ln, Pelham, AL 35124
      View Details
    • $219,900

      Pelham Townhouse with Modern Amenities

      Charming 3-bedroom townhouse with hardwood floors and granite countertops.
      133 Shine Dr, Pelham, AL 35124
      View Details
    • $199,900
      1,550 SF

      Pelham Townhome with Fenced Yard

      Three-bedroom townhome in Pelham with fenced backyard and storage building.
      218 Carl Nichols Dr, Pelham, AL 35124
      View Details
    • $49,000
      1.37 Acres

      Residential Land in Pelham, AL

      1.373 acre residential land for sale in Pelham, Alabama.
      3470 Mitoba Trl, Pelham, AL 35124
      View Details
    • $1,595,000
      17.00 Acres

      Cleared Land on Pelham Parkway

      Six acres of ready-to-go land on Pelham Parkway.
      2499 Pelham Pkwy, Pelham, AL 35124
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      13,800 SF

      Pelham Parkway Retail Space

      1,700 SF Retail Space, High Traffic
      2691 Pelham Pkwy, Pelham, AL 35124
      View Details
    • Contact for pricing
      65,936 SF

      Keystone Plaza: Retail Investment Opportunity

      High-traffic shopping center with 2 spaces available.
      3570 Pelham Pkwy, Pelham, AL 35124
      View Details
    • Contact for pricing
      2,425 SF

      Retail Space with Drive-Thru

      Retail and office spaces available in Pelham, Alabama.
      1920-1948 Highway 31 S, Pelham, AL 35124
      View Details
    • $10,000 /Mo
      10,204 SF

      Pelham Parkway Showroom/Warehouse Space

      Renovated showroom/warehouse with excellent visibility and convenient access.
      3543 Pelham Pkwy, Pelham, AL 35124
      View Details
    • Contact for pricing

      Pelham Parkway Land Sublease Opportunity

      0.62 acres of commercial land available for sublease.
      3340 Pelham Pkwy, Pelham, AL 35124
      View Details
    • $11 SF/Yr

      Versatile Commercial Space in Pelham

      Modern property in Pelham, AL, suitable for various businesses.
      246 Cahaba Valley Pkwy, Pelham, AL 35124
      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.
    2691 Pelham Pkwy
    Pelham, AL 35124
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.