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

    313 Aaron Dr Birmingham, AL 35215-8201

    • Medical offices
    • 2,968 SF
    • 0.22 lot acres
    OFF-MARKET
    Last Sale
    Dec 19, 2024
    $343,000
    Value Estimations
    $335,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0512111
    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

    • Dental Associates of Roebuck / Dentist
    • Calvert R Keith DMD / Dentist
    • Birmingham Dentures and Implants / Dental Implants Provider / Dental Implants Periodontist
    • Dwight King / Dentist

    Property Details for 313 Aaron Dr

    Year built
    1955
    Lot size
    0.22 lot acres
    Property size
    2,968 SF
    Zone code
    R2
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    13-00-36-4-011-025.000
    APU
    1300364011025000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $345,000
      ML approach
      $345,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $320,000
      Market price range: $204k - $742k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $530,000
      Current use
      OFFICE BUILDING
      $495,000
      Change: -6% Conversion: Easy
      AUTO REPAIR, GARAGE
      $480,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Birmingham
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.6996
    Latitude
    33.5916
    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
    $2,867
    $15,248
    $40,272
    $55,520
    -
    $68,000
    $179,600
    $247,600

    Comparable in this City

    • Value Estimation
      $200,000
      3,320 SF

      1524 Huffman Rd

      MEDICAL BUILDING • 3,320 SF
      1524 Huffman Rd, Center Point, AL 35215-5602
      View Details
    • Value Estimation
      $515,000
      34,514 SF

      2601 Carson Rd

      MEDICAL BUILDING • 34,514 SF
      2601 Carson Rd, Birmingham, AL 35215-3007
      View Details
    • Value Estimation
      $300,000
      2,098 SF

      1705 Ctr Pt Pkwy

      MEDICAL BUILDING • 2,098 SF
      1705 Ctr Pt Pkwy, Birmingham, AL 35215-5505
      View Details
    • Value Estimation
      $210,000
      2,692 SF

      612 Red Ln Rd

      MEDICAL BUILDING • 2,692 SF
      612 Red Ln Rd, Birmingham, AL 35215-8236
      View Details
    • Value Estimation
      $290,000
      3,132 SF

      1703 Ctr Pt Pkwy

      MEDICAL BUILDING • 3,132 SF
      1703 Ctr Pt Pkwy, Birmingham, AL 35215-5505
      View Details
    • Value Estimation
      $280,000
      2,078 SF

      2232 Ctr Pt Pkwy

      MEDICAL BUILDING • 2,078 SF
      2232 Ctr Pt Pkwy, Birmingham, AL 35215-4610
      View Details

    Similar Nearby for Sale

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      Versatile Commercial Property in Center Point

      Expansive commercial property with potential for various uses and expansion.
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      12,000 SF medical shell on a high-traffic corner lot.
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      Center Point Office Building & Land

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      High-Visibility Office Building For Sale

      Cash-flowing office asset near a bustling commercial corridor.
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      Birmingham Office Building For Sale

      Well-maintained office building with high occupancy and income potential.
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    Similar Nearby for Lease

    • $168 SF/Yr
      6,000 SF

      Center Point Parkway Office Space

      Birmingham Office Building: 6,000 sq ft available
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      View Details
    • $18 SF/Yr
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      Concourse 100 Office Space for Lease

      Birmingham Office Building, Flexible Suites Available
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      View Details
    • $9 SF/Yr
      148,275 SF

      Center Point Retail Spaces

      Grocery-anchored center, 7 spaces available.
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      View Details
    • $8 SF/Yr
      6,144 SF

      Parkway East Office Building for Lease

      Birmingham Office Space, High Visibility
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    • $9 SF/Yr
      13,905 SF

      Center Point Parkway Retail Space

      Former Walgreens, Drive-Thru, High Visibility
      2301 Center Point Pkwy, Birmingham, AL 35215
      View Details
    • $3,950 /Mo

      Pinson Valley Warehouse with Yard

      Freestanding warehouse with office space and fenced yard.
      3105 Pinson Valley Pkwy, Birmingham, AL 35215
      View Details
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    313 Aaron Dr
    Birmingham, AL 35215-8201
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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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