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

    3022 Memorial SW Pkwy Huntsville, AL 35801-5371

    • Strip malls
    • 16,093 SF
    • 1.18 lot acres
    OFF-MARKET
    Last Sale
    Feb 26, 2020
    Value Estimations
    $780,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0681219
    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

    • Windmill Beverages / (Bike/Boat/Book/etc) Store / Wine and Liquor Store
    • Firehouse Subs Memorial Pkwy / Take-out & Catering
    • We Fix It Phone Repair / Computer & Electronic Repair / Tech Support Center
    • Sole Foot Spa / Alternative Medicine Practice / Spa & Massage Center
    • The Honey Baked Ham Company / Restaurant

    Property Details for 3022 Memorial SW Pkwy

    Year built
    1989
    Construction
    MIXED
    Lot size
    1.18 lot acres
    Property size
    16,093 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    17-01-12-3-002-007.000
    APU
    1701123002007000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $505,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,060,000
      Market price range: $258k - $1.23M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $630,000
      Current use
      WAREHOUSE, STORAGE
      $1,275,000
      Change: +103% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,110,000
      Change: +76% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.5876
    Latitude
    34.7022
    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
    $21,511
    $82,420
    $288,460
    $370,880
    -
    $412,100
    $1,442,300
    $1,854,400

    Comparable in this City

    • Value Estimation
      $950,000
      62,565 SF

      3000 Memorial SW Pkwy

      SHOPPING CENTER, STRIP CENTER • 62,565 SF
      3000 Memorial SW Pkwy, Huntsville, AL 35801-5303
      View Details
    • Value Estimation
      $970,000
      62,565 SF

      3000 Memorial SW Pkwy

      SHOPPING CENTER, STRIP CENTER • 62,565 SF
      3000 Memorial SW Pkwy, Huntsville, AL 35801-5303
      View Details
    • Value Estimation
      $8,260,000
      25,861 SF

      900 Bob Wallace SW Ave

      SHOPPING CENTER, STRIP CENTER • 25,861 SF
      900 Bob Wallace SW Ave, Huntsville, AL 35801-5691
      View Details
    • Value Estimation
      $955,000
      44,430 SF

      1407 Memorial NW Pkwy

      SHOPPING CENTER, STRIP CENTER • 44,430 SF
      1407 Memorial NW Pkwy, Huntsville, AL 35801-5935
      View Details
    • Value Estimation by Request
      3,254 SF

      900 Wellman NE Ave

      SHOPPING CENTER, STRIP CENTER • 3,254 SF
      900 Wellman NE Ave, Huntsville, AL 35801-3672
      View Details
    • Value Estimation
      $3,925,000
      46,997 SF

      2021 Drake SW Ave

      SHOPPING CENTER, STRIP CENTER • 46,997 SF
      2021 Drake SW Ave, Huntsville, AL 35801-5608
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Huntsville Retail Building For Sale

      4,570 SF free-standing retail building in a high-traffic Huntsville location.
      1001 Memorial Pkwy N, Huntsville, AL 35801
      View Details
    • Contact for pricing

      Huntsville Office Building in CBD

      Class B office building in Huntsville's prime Central Business District.
      308 Clinton Ave W, Huntsville, AL 35801
      View Details
    • Contact for pricing
      5,860 SF

      Huntsville Retail Space - Prime Location

      High-traffic retail space near Huntsville Hospital.
      117 Longwood Dr, Huntsville, AL 35801
      View Details
    • New
      $450,000
      9,000 SF

      Huntsville Commercial Building For Sale

      Two-story retail/office building with high visibility near downtown Huntsville.
      908 Memorial Pkwy N, Huntsville, AL 35801
      View Details
    • $175,000
      1.00 Acre

      Elmore County Commercial Land Investment

      Prime 1-acre commercial lot near new prison.
      0 Al-143, Millbrook, AL 35801
      View Details
    • $650,000

      South Huntsville Industrial Land

      Prime 0.92-acre industrial lot, flood-clear.
      0 Memorial Pkwy, Huntsville, AL 35801
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Huntsville Commercial Property

      High-visibility retail and office space in a thriving Huntsville location.
      2900 Memorial Pkwy, Huntsville, AL 35801
      View Details
    • $11 SF/Yr
      78,300 SF

      Century Office Plaza: Huntsville Offices

      Prime South Huntsville Office Space: Flexible Sizes Available
      3322 Memorial Pkwy, Huntsville, AL 35801
      View Details
    • Contact for pricing
      13,650 SF

      Huntsville Retail Space for Lease

      Prime Huntsville location, 13,650 SF available.
      3030 Memorial Pkwy, Huntsville, AL 35801
      View Details
    • Contact for pricing
      13,333 SF

      Lincoln Mill Retail Spaces Available

      Huntsville, AL Retail Spaces - 6 Units
      1300 Meridian St, Huntsville, AL 35801
      View Details
    • Contact for pricing
      26,000 SF

      Stadium Commons Executive Suites

      Huntsville, AL Office Space Available
      3312 Memorial Pkwy, Huntsville, AL 35801
      View Details
    • Contact for pricing
      46,680 SF

      Huntsville Retail Spaces Available

      Prime Downtown Huntsville Retail
      0 Clinton Ave, Huntsville, AL 35801
      View Details
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    Huntsville, AL 35801-5371
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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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