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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2905 Bob Wallace SW Ave Huntsville, AL 35805-4176

    • Investment properties
    • 22,875 SF
    • 1.47 lot acres
    OFF-MARKET
    Last Sale
    Feb 12, 2020
    $1,500,000
    Value Estimations
    $1,740,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-2626685
    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

    • Cartridge World / Fax Service / Office Supply Store
    • Fierce Factor Athletics LLC. / Gym & Fitness Center
    • Dynamic Expressions Performing Arts / Vocational School
    • 1 in Christ International / Association Or Organization
    • Trinity Orthotics & Pedorthics / Orthotics & Prosthetics Service / Orthopedic Shoe Store

    Property Details for 2905 Bob Wallace SW Ave

    Year built
    1989
    Construction
    MIXED
    Lot size
    1.47 lot acres
    Property size
    22,875 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    17-01-11-2-001-023.000
    APU
    1701112001023000

    Description

    This exceptional office property at 2905 Bob Wallace Ave SW in Huntsville, Alabama, 35805 offers multiple tenancy in a single-story Class B building. Two spaces are currently available, ranging from 1,400 to 3,450 square feet, making it ideal for a variety of businesses. The property is categorized as both traditional office and medical office space, providing versatility for diverse needs. Located in the Home Center, a neighborhood center, this property enjoys convenient access to major thoroughfares including Memorial Parkway, Redstone Arsenal, and I-565. This strategic location benefits from an established tenant base representing a mix of industries, including government contractors, e-commerce, medical device companies, and other office spaces. The property is designated as a HUB Zone, offering potential advantages for qualifying businesses. Lease rates are competitive and offered AS-IS, with no CAM fees. The flexible space is suitable for various uses, including office, medical, showroom, retail, assembly, or multipurpose/flex space. This presents a unique opportunity to secure well-located, adaptable office space in a thriving Huntsville neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,985,000
      ML approach
      $1,980,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.6046
    Latitude
    34.7108
    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
    $16,894
    $60,920
    $230,360
    $291,280
    -
    $304,600
    $1,151,800
    $1,456,400

    Comparable in this City

    • Value Estimation
      $675,000
      3,977 SF

      2109 Bob Wallace SW Ave

      STORE/OFFICE (MIXED USE) • 3,977 SF
      2109 Bob Wallace SW Ave, Huntsville, AL 35805-4790
      View Details
    • Value Estimation
      $940,000
      11,009 SF

      2005 Bob Wallace SW Ave

      STORE/OFFICE (MIXED USE) • 11,009 SF
      2005 Bob Wallace SW Ave, Huntsville, AL 35805-4708
      View Details
    • Value Estimation
      $540,000
      9,166 SF

      3306 Governors SW Dr

      STORE/OFFICE (MIXED USE) • 9,166 SF
      3306 Governors SW Dr, Huntsville, AL 35805-3634
      View Details
    • Value Estimation
      $930,000
      5,129 SF

      3011 Bob Wallace SW Ave

      STORE/OFFICE (MIXED USE) • 5,129 SF
      3011 Bob Wallace SW Ave, Huntsville, AL 35805-4001
      View Details
    • Value Estimation by Request
      254 SF

      2214 Clinton W Ave

      STORE/OFFICE (MIXED USE) • 254 SF
      2214 Clinton W Ave, Huntsville, AL 35805
      View Details
    • Value Estimation
      $660,000
      6,345 SF

      2721 Clinton W Ave

      STORE/OFFICE (MIXED USE) • 6,345 SF
      2721 Clinton W Ave, Huntsville, AL 35805-3647
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.17 Acres

      Huntsville Commercial Land - Build to Suit

      Prime .17-acre lot, Huntsville, build-to-suit options.
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      Huntsville Land For Sale

      Level lot in growing location with convenient access.
      58 Lot Mcvay St SW, Huntsville, AL 35805
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    • $165,000
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      Huntsville Duplex with Income Potential

      Full-brick duplex with flexible layout and income potential in Huntsville.
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      Huntsville Land For Sale

      Level lot suitable for single or multi-family dwellings.
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    Similar Nearby for Lease

    • $22 SF/Yr
      102,000 SF

      Premier Office Space in Huntsville

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      Huntsville Warehouse with Updated Office

      Warehouse with office space available in central Huntsville location.
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      Huntsville Office Space For Rent

      Office building near Campus 805 with ample parking.
      2613 Clinton Ave W, Huntsville, AL 35805
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    • $11,875 /Mo
      180,480 SF

      Huntsville Warehouse in Research Park

      Warehouse in Cumming Research Park, convenient location, easy access.
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      View Details
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      Anthem House: Huntsville Office Suites

      MidCity District: Premium Office Space
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    • $21 SF/Yr
      134,318 SF

      Intuitive Center: Huntsville Office Space

      Class A office campus; 3 suites available.
      5030 Bradford Dr, Huntsville, AL 35805
      View Details
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    Huntsville, AL 35805-4176
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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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