Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Retail space
2818 Governors SW Dr Huntsville, AL 35805-3779
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US03-0705736
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1987
Construction
MIXED
Total area
2,322 SF
Lot
0.17 ac (7,492 SF)
APN
17-01-02-2-004-035.000
UPID
US03-0705736
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Metro by T-Mobile Mobile Phone Store Electronics & Wireless Store
-
Pearly's Natural Food & Mercantile (Bike/Boat/Book/etc) Store Specialty Food Shop
-
Twisted Scissors Barber Shop
-
Governors Mobile Phone Store Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$600k
CAP Approach
CAP
$435k
Comparable Approach
Comparable
$514k
Blend (final)
Blend
$555k
Owner & transaction history
Ray Walters Properties LLC · 7 yrs held
Ray Walters Properties LLC
since 2019
Last sale
$565,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$470,000
+31.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Huntsville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Huntsville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$525,000
ML approach
$600,000
CAP Approach
CAP Return
Estimation
6%
$475,000
6.5%
$435,000
7%
$405,000
Alternative Use
Use
Estimation
RETAIL STORES
$355,000
Current use
MEDICAL BUILDING
$470,000
Change: +32% · Conversion: Difficult
COMMERCIAL (GENERAL)
$345,000
Change: -4% · Conversion: Easy
OFFICE BUILDING
$335,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$555k
Range $500k – $611k · ±10% · vs last sale $565k (Jul 12 2023)
Last sale anchor
$565k
Jul 12 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$239 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2,626
Tax year 2023
Assessed value
$45,280
Assessed 2023
Previous assessed
$39,620
+14.3% YoY
Effective rate
5.80%
On assessed value
Assessed land
$6,000
Assessed improvement
$39,280
Land market value
$30,000
Improvement market value
$196,400
Total market value
$226,400
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1987
Construction
MIXED
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Bathrooms
1
Total area
2,322 SF
Lot
0.17 ac (7,492 SF)
APN
17-01-02-2-004-035.000
UPID
US03-0705736
Jurisdiction
MADISON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$355,000
MEDICAL BUILDING
Est. value
$470,000
COMMERCIAL (GENERAL)
Est. value
$345,000
OFFICE BUILDING
Est. value
$335,000
RETAIL STORES Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
MIXED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Ray Walters Properties LLC
Entity
Free & Clear · 7 yrs held
Mailing address
2125 BIG CV RD SE, HUNTSVILLE, AL 35801-1347
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 9, 2019
$241,000
Ray Walters Properties LLC
Walters,joseph R JR & Chol K
Warranty Deed
related
—
Jun 27, 2011
$85,500
Joseph R Walters JR.
Walters,joseph R JR & Chol K
Quit Claim Deed
related
—
Dec 22, 2009
$420,000
Joseph R Walters JR.
Land,bernice P
Warranty Deed
$345,000 · Servisfirst Bank
—
—
Joseph R Walters JR.
—
Deed Of Trust
related
$192,349 · Servisfirst Bk
—
—
Joseph R Walters JR
—
Deed Of Trust
related
$225,000 · Servisfirst Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2818 Governors SW Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
