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

    3004 University NW Dr Huntsville, AL 35816-3134

    • Retail space
    • 12,197 SF
    • 0.83 lot acres
    OFF-MARKET
    Value Estimations
    $1,705,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1042901
    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

    • University Furniture Gallery / Furniture & Home Goods / Home Decor Store

    Property Details for 3004 University NW Dr

    Year built
    1965
    Construction
    MIXED
    Lot size
    0.83 lot acres
    Property size
    12,197 SF
    Property type
    Retail space
    APN
    14-08-34-1-002-011.000
    APU
    1408341002011000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,485,000
      6.5%
      $2,295,000
      7%
      $2,130,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,033,000
      Market price range: $424k - $1.03M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,875,000
      Current use
      MEDICAL BUILDING
      $2,470,000
      Change: +32% Conversion: Difficult
      OFFICE BUILDING
      $1,940,000
      Change: +3% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,805,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.6151
    Latitude
    34.736
    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
    $16,933
    $44,420
    $247,520
    $291,940
    -
    $222,100
    $1,237,600
    $1,459,700

    Comparable in this City

    • Value Estimation by Request
      4,000 SF

      4612 Commercial NW Dr

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      4612 Commercial NW Dr, Huntsville, AL 35816-2202
      View Details
    • Value Estimation by Request
      3,960 SF

      602 Jordan NW Ln

      RETAIL STORES (PERSONAL SERVICES) • 3,960 SF
      602 Jordan NW Ln, Huntsville, AL 35816-3622
      View Details
    • Value Estimation
      $895,000
      14,925 SF

      2607 University NW Dr

      RETAIL STORES (PERSONAL SERVICES) • 14,925 SF
      2607 University NW Dr, Huntsville, AL 35816-3316
      View Details
    • Value Estimation by Request
      3,626 SF

      2815 University NW Dr

      RETAIL STORES (PERSONAL SERVICES) • 3,626 SF
      2815 University NW Dr, Huntsville, AL 35816-3319
      View Details
    • Value Estimation by Request
      1,484 SF

      1703 Pulaski NW Pike

      RETAIL STORES (PERSONAL SERVICES) • 1,484 SF
      1703 Pulaski NW Pike, Huntsville, AL 35816-1629
      View Details
    • Value Estimation
      $800,000
      8,700 SF

      2611 University NW Dr

      RETAIL STORES (PERSONAL SERVICES) • 8,700 SF
      2611 University NW Dr, Huntsville, AL 35816-3316
      View Details

    Similar Nearby for Sale

    • $895,000
      7,200 SF

      Huntsville Commercial Building For Sale

      7,200 SF commercial building with warehouse and retail/office space.
      2733 University Dr, Huntsville, AL 35816
      View Details
    • $995,000
      7,200 SF

      Huntsville Retail Space - $995K

      7,200 SF Retail/Warehouse, High Traffic Area
      2733 University Dr, Huntsville, AL 35816
      View Details
    • $350,000
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      Sparkman Drive Commercial Property

      Highly visible commercial property on Sparkman Drive in North Huntsville.
      4985 Sparkman Dr NW, Huntsville, AL 35816
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    • $624,900
      9,659 SF

      Huntsville Retail Investment Opportunity

      9,659 sq. ft. retail property in high-traffic Huntsville area.
      2020 Country Club Ave NW, Huntsville, AL 35816
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    • $550,000
      2.00 Acres

      Huntsville Commercial Redevelopment Opportunity

      Two buildings on two acres, great redevelopment potential.
      1107 Jordan Ln, Huntsville, AL 35816
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    • $895,000

      Huntsville Commercial Building For Sale

      7,200 SF commercial building with warehouse and retail/office space.
      2733 University Dr Nw, Huntsville, AL 35816
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    Similar Nearby for Lease

    • $1,295 /Mo
      40,000 SF

      Huntsville Commercial Space For Rent

      Well-located commercial space in an active Huntsville corridor.
      4820 University Dr, Huntsville, AL 35816
      View Details
    • $1,250 /Mo
      1,400 SF

      Huntsville Commercial Space Available Now

      High-visibility commercial space with open layout, kitchen, and parking.
      1920 Sparkman Dr, Huntsville, AL 35816
      View Details
    • Contact for pricing
      3,200 SF

      Huntsville Retail Space - University Dr

      Class A Retail, 3200 sq ft, Huntsville AL
      4009 University Dr, Huntsville, AL 35816
      View Details
    • Contact for pricing

      Retail Space on University Drive

      Retail space for rent with high visibility and access.
      4016 University Dr, Huntsville, AL 35816
      View Details
    • $7,987 /Mo
      25,782 SF

      Huntsville Office/Retail Space Available

      Class B office/retail building in high-traffic Huntsville location.
      1555 Boardwalk, Huntsville, AL 35816
      View Details
    • Contact for pricing
      19,697 SF

      Retail Center with Long-Term Tenant

      Retail property featuring AT&T as a major tenant.
      4929 University Dr, Huntsville, AL 35816
      View Details
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    Huntsville, AL 35816-3134
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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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