Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    2970 Pelham Pkwy Pelham, AL 35124-1799

    Property Lookup

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

    2970 Pelham Pkwy Pelham, AL 35124-1799

    View on Map
    • Medical Office Space
    • 4,182 SF
    • 0.80 lot acres
    Off-Market
    Property ID
    US03-0994738
    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
    $870,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • American Family Cr Intrnl Medcn / Community Health Centre / Urgent Care Center
    • American Family Care Pelham / Medical Clinic
    • AFC Pelham / Medical Clinic
    • Dr. Ghaith Ajamoughli / Medical Clinic

    Property Details for 2970 Pelham Pkwy

    Year built
    1999
    Lot size
    0.80 lot acres
    Property size
    4,182 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    136132002009002
    APU
    136132002009002

    Description

    This exceptional investment opportunity presents a 4,182 square foot Class A medical office building in Pelham, Alabama. Located at 2970 Pelham Parkway, the property boasts a prominent position with high visibility and convenient access. The building is currently leased to American Family Care under a new 15-year Absolute NNN lease, commencing August 1, 2023, and expiring July 31, 2038, leaving 13.7 years remaining. The lease includes annual rent increases based on CPI adjustments, with a 2% floor and no cap, ensuring consistent income growth. The tenant is backed by a corporate guarantee, mitigating risk. The property offers ample on-site parking, a significant advantage for both patients and staff. Its strategic location near Shelby Baptist Hospital, various industrial businesses, and other medical parks further enhances its appeal and potential for long-term value appreciation. The asking price is $2,064,684, representing a price per square foot of $493.71 and a compelling 6.18% cap rate with a current NOI of $127,597. This is a turnkey investment with a strong tenant, a long-term lease, and significant upside potential. The property is situated in Shelby County, Alabama, zip code 35124.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $869,000
      Market price range: $526k - $1.05M
      AI Estimate
      $869,000
      Market price range: $526k - $1.05M

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

    Location Insight

    • Map
    • Local Demand
    City
    Pelham
    County
    Shelby
    State
    Alabama
    Longitude
    -86.8112
    Latitude
    33.2984
    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
    $9,920
    $0.00
    $0.00
    $171,040
    -
    $326,180
    $528,990
    $855,170

    Comparable in this City

    • Value Estimation
      $725,000
      4,458 SF

      Pelham, AL 35124

      MEDICAL BUILDING • 4,458 SF
      Pelham, AL 35124
      View Details
    • Value Estimation
      $950,000
      3,800 SF

      300 Big Mtn Cir

      MEDICAL BUILDING • 3,800 SF
      300 Big Mtn Cir, Pelham, AL 35124-4102
      View Details
    • Value Estimation
      $3,825,000
      29,766 SF

      120 Cahaba Vly Pkwy

      MEDICAL BUILDING • 29,766 SF
      120 Cahaba Vly Pkwy, Pelham, AL 35124-1185
      View Details
    • Value Estimation
      $2,845,000
      22,626 SF

      2100 County Services Dr

      MEDICAL BUILDING • 22,626 SF
      2100 County Services Dr, Pelham, AL 35124-6150
      View Details
    • Value Estimation by Request
      7,140 SF

      3170 Pelham Pkwy

      MEDICAL BUILDING • 7,140 SF
      3170 Pelham Pkwy, Pelham, AL 35124-2023
      View Details
    • Value Estimation by Request
      2,215 SF

      6496 Quail Run Dr

      MEDICAL BUILDING • 2,215 SF
      6496 Quail Run Dr, Hoover, AL 35124-3104
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,480 SF

      Pelham Parkway Retail/Office Opportunity

      2,480 SF building on 0.50-acre lot in Pelham, AL.
      2621 Pelham Pkwy, Pelham, AL 35124
      View Details
    • Contact for pricing
      3,216 SF

      Highway Frontage Commercial Building

      3,216 SF building on 0.43 acres near Hoover/Pelham border.
      2127 Old Montgomery Hwy, Pelham, AL 35124
      View Details
    • Contact for pricing
      7,548 SF

      Pelham Medical Office For Sale

      Medical office space with 6 operatories, ample parking.
      1973 Chandalar Dr, Pelham, AL 35124
      View Details
    • $4,250,000
      5,000 SF

      Prime Commercial Property in Pelham

      10.5 acres with office building in high-growth area.
      2969 Highway 11, Pelham, AL 35124
      View Details
    • $325,000
      1,330 SF

      Commercial Building on Large Lot

      1,330 SF building on 2.05 acre lot for sale.
      3280 Highway 52 W, Pelham, AL 35124
      View Details
    • $1,800,000
      20,000 SF

      Highway Frontage Industrial Flex Building

      20,000 SF flex building with highway frontage for sale.
      40 Commerce Dr, Pelham, AL 35124
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr

      Versatile Space in Pelham, AL

      Adaptable commercial space suitable for office, retail, or medical use.
      201 Yeager Pkwy, Pelham, AL 35124
      View Details
    • $9 SF/Yr

      Pelham Flex Warehouse Sublease

      8,750 SF flex warehouse with office space available for sublease.
      220 Commerce Pkwy, Pelham, AL 35124
      View Details
    • Contact for pricing

      Renovated Executive Office Suites

      Executive office suites for lease in Pelham, Alabama.
      230 Bearden Rd, 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
    • Contact for pricing

      Move-In Ready Office Space Available

      Office and flex spaces available in Pelham, Alabama.
      334 Business Cir, Pelham, AL 35124
      View Details
    • Contact for pricing

      Pelham Highway 31 Mixed-Use Space

      Retail, office, and storage space with Highway 31 frontage.
      2706 Pelham 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.
    2970 Pelham Pkwy
    Pelham, AL 35124-1799
    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

    2970 Pelham Pkwy, Pelham, AL, 35124

    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!