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    Property profile & analytics

    3000 Independence Dr Birmingham, AL 35209-4110

    • Grocery and convenience stores
    • 17,275 SF
    • 1.26 lot acres
    OFF-MARKET
    Value Estimations
    $1,870,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0401074
    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

    • Grocery and convenience stores

    Property Details for 3000 Independence Dr

    Year built
    1955
    Lot size
    1.26 lot acres
    Property size
    17,275 SF
    Zone code
    C2
    Property type
    Grocery and convenience stores
    APN
    28-00-07-3-031-001.000
    APU
    2800073031001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,815,000
      6.5%
      $2,595,000
      7%
      $2,410,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,219,000
      Market price range: $288k - $1.22M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,115,000
      Current use
      MEDICAL BUILDING
      $3,075,000
      Change: +46% Conversion: Difficult
      OFFICE BUILDING
      $2,890,000
      Change: +37% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,780,000
      Change: +32% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Birmingham
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.7877
    Latitude
    33.478
    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
    2022
    $65,330
    $634,520
    $290,820
    $925,340
    -
    $3,172,600
    $1,454,100
    $4,626,700

    Comparable in this City

    • Value Estimation by Request
      3,226 SF

      400 Grn Spgs Hwy

      CONVENIENCE STORE • 3,226 SF
      400 Grn Spgs Hwy, Birmingham, AL 35209-4910
      View Details
    • Value Estimation by Request
      1,767 SF

      39 Oxmoor Rd

      CONVENIENCE STORE • 1,767 SF
      39 Oxmoor Rd, Birmingham, AL 35209-6409
      View Details
    • Value Estimation by Request
      2,763 SF

      301 Cmns Dr

      CONVENIENCE STORE • 2,763 SF
      301 Cmns Dr, Birmingham, AL 35209-6965
      View Details
    • Value Estimation by Request
      1,152 SF

      2614 Mamie L Fosters 18th S Pl

      CONVENIENCE STORE • 1,152 SF
      2614 Mamie L Fosters 18th S Pl, Birmingham, AL 35209
      View Details
    • Value Estimation by Request
      3,478 SF

      400 Morris Blvd

      GROCERY, SUPERMARKET • 3,478 SF
      400 Morris Blvd, Birmingham, AL 35209
      View Details
    • Value Estimation
      $590,000
      1,736 SF

      820 Grn Spgs Hwy

      CONVENIENCE STORE • 1,736 SF
      820 Grn Spgs Hwy, Birmingham, AL 35209-4918
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Homewood Retail Portfolio For Sale

      Fully leased retail portfolio in downtown Homewood's iconic retail corridor.
      2916 18Th St South, Homewood, AL 35209
      View Details
    • $2,200,000
      0.17 Acres

      Downtown Homewood Retail Opportunity

      Prime Homewood location, high visibility, huge potential.
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    • $8,800,000
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      Prime Birmingham Distribution Center

      109,882 SF Industrial Facility, $8.8M
      34 Oxmoor Rd, Birmingham, AL 35209
      View Details
    • New
      $345,000
      0.25 Acres

      Oversized Lot in Edgewood Heart

      Rare opportunity to build your dream home in Homewood.
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      Commercial Land For Sale

      Commercial land available for sale.
      2730 18Th St S, Birmingham, AL 35209
      View Details
    • $285,000
      0.26 Acres

      Residential Lot in Edgewood

      Quarter-acre residential lot in Homewood's desirable Edgewood neighborhood.
      217 Edgeview Ave, Birmingham, AL 35209
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    Similar Nearby for Lease

    • Contact for pricing
      1,950 SF

      Retail Space Near Lowe's

      Up to 3,900 SF available in high-traffic retail corridor.
      350 State Farm Pkwy, Birmingham, AL 35209
      View Details
    • $15 SF/Yr
      6,652 SF

      Green Springs Center Office Suites

      Homewood, AL Office Space Available
      430 Grn Spg Hwy, Homewood, AL 35209
      View Details
    • $25 SF/Yr

      Renovated Retail/Office Space Available

      Renovated space in growing community, suitable for retail/office.
      169 Oxmoor Rd, Birmingham, AL 35209
      View Details
    • $11 SF/Yr
      8,560 SF

      West Valley Plaza Retail Space

      Prime Retail Space, Birmingham, AL
      191 Vly Ave, Homewood, AL 35209
      View Details
    • Contact for pricing
      1 SF

      I-65 Frontage Ground Lease, Homewood, AL

      High-traffic location, 4.5 acres, development potential.
      275 Oxmoor Rd, Homewood, AL 35209
      View Details
    • Contact for pricing
      10,500 SF

      231 State Farm Pkwy

      Retail properties & Spaces • 10,500 SF
      231 State Farm Pkwy, Homewood, AL 35209
      View Details
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    3000 Independence Dr
    Birmingham, AL 35209-4110
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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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