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    3111 Memorial NW Pkwy Huntsville, AL 35810-2403
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    Property profile & analytics

    3111 Memorial NW Pkwy, Huntsville, AL 35810-2403

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    • Sports & entertainment properties
    • 1,756 SF
    • 0.62 lot acres
    Off-Market
    Last Sale Dec 13, 2024
    $290,000
    Property ID
    US03-0397536
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sports & entertainment properties

    Property Details for 3111 Memorial NW Pkwy

    Year built
    2009
    Construction
    WOOD
    Lot size
    0.62 lot acres
    Property type
    Sports & entertainment properties
    APN
    14-06-24-2-001-072.000
    APU
    1406242001072000

    Description

    This exceptional 0.62-acre commercial land parcel, totaling 27,042 square feet, presents a unique opportunity for development in Huntsville, Alabama. Located at 3111 Memorial Pkwy NW, this vacant lot boasts 115 feet of frontage on a high-traffic access road to Memorial Parkway, which sees 43,000 vehicles daily, ensuring maximum visibility for your business. The property's existing structure, totaling 3,474 square feet, can be demolished to accommodate your ideal build. Zoned LI (Light Industrial), this versatile site allows for a wide range of uses, including retail, storage facilities, drive-thru restaurants, office spaces, and medical facilities. Its strategic location offers convenient access to major roadways and highways, guaranteeing a steady flow of potential customers. The area also benefits from the proximity of high-performing fast-food restaurants such as McDonald's, Wendy's, and Popeye's, all ranking within the top 3% in Alabama according to Placer.ai. A large pylon sign is already in place, further enhancing visibility and marketing potential. This is an exceptional opportunity to establish a thriving business in a high-demand location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.5887
    Latitude
    34.7656
    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
    $2,862
    $27,140
    $22,200
    $49,340
    -
    $135,700
    $111,000
    $246,700

    Comparable in this City

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      $8,120,000
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      5025 Blue Spg NW Rd

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      2,990 SF

      2616 Memorial NW Pkwy

      RECREATIONAL, ENTERTAINMENT
      2616 Memorial NW Pkwy, Huntsville, AL 35810-3808
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      1,575 SF

      2601 Oakwood NW Ave

      RECREATIONAL, ENTERTAINMENT
      2601 Oakwood NW Ave, Huntsville, AL 35810-4309
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    • Value Estimation
      $1,320,000
      25,266 SF

      6001 Pulaski NW Pike

      RECREATIONAL, ENTERTAINMENT
      6001 Pulaski NW Pike, Huntsville, AL 35810-1122
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      North Huntsville Acreage For Sale

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      Adaptable Industrial-Retail Space For Sale

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      Huntsville Land For Sale

      3.7 acres of light industrial land for sale.
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    Similar Nearby for Lease

    • Contact for pricing

      High-Visibility Retail Space Available

      Retail and service center with suites from 514-5,165 SF.
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      Huntsville Retail Space Available

      Retail space available, 4,800 SqFt in Huntsville, Alabama.
      3423 Pulaski Pike NW, Huntsville, AL 35810
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      Retail Space on Oakwood Avenue

      Retail space available for rent on Oakwood Avenue.
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      Retail Space on Memorial Parkway

      Retail space for lease in North Huntsville with high visibility.
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      Neighborhood Center Anchored by Dollar General

      Neighborhood center anchored by Dollar General Market and Vital Smiles.
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    • $12 SF/Yr

      Huntsville Flex Industrial Space Available

      Flex industrial space with frontage on Memorial Parkway, ready for occupancy.
      5150 North Memorial Pkwy, Huntsville, AL 35810
      View Details
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    Huntsville, AL 35810-2403
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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.

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