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

    3131 University NW Dr Huntsville, AL 35816-3137

    • Motels
    • 43,616 SF
    • 2.46 lot acres
    OFF-MARKET
    Last Sale
    Nov 15, 2023
    $6,916,500
    Value Estimations
    $6,680,000
    Show details
    Cap Rate Potential
    3.6%
    Motels
    Location Intelligence
    Property ID
    US03-0934181
    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

    • Suburban Studios Huntsville University Area / Hotel & Motel / Vacation Rental
    • Value Place Huntsville University Drive / Hotel & Motel / Vacation Rental

    Property Details for 3131 University NW Dr

    Year built
    2008
    Lot size
    2.46 lot acres
    Property size
    43,616 SF
    Property type
    Motels
    APN
    14-08-34-3-001-002.000
    APU
    1408343001002000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,435,000
      ML approach
      $6,450,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $8,235,000
      RESTAURANT
      $6,945,000
      AUTO REPAIR, GARAGE
      $6,105,000
      MEDICAL BUILDING
      $5,135,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.6181
    Latitude
    34.7342
    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
    $42,049
    $128,380
    $596,600
    $724,980
    -
    $641,900
    $2,983,000
    $3,624,900

    Comparable in this City

    • Value Estimation
      $965,000
      53,880 SF

      1565 The Boardwalk

      MOTEL • 53,880 SF
      1565 The Boardwalk, Huntsville, AL 35816-1821
      View Details
    • Value Estimation by Request
      21,100 SF

      4404 University NW Dr

      MOTEL • 21,100 SF
      4404 University NW Dr, Huntsville, AL 35816-2805
      View Details
    • Value Estimation
      $590,000
      27,393 SF

      3200 University NW Dr

      MOTEL • 27,393 SF
      3200 University NW Dr, Huntsville, AL 35816-3154
      View Details
    • Value Estimation
      $4,320,000
      19,770 SF

      4870 University NW Dr

      MOTEL • 19,770 SF
      4870 University NW Dr, Huntsville, AL 35816-1847
      View Details
    • Value Estimation
      $540,000
      24,732 SF

      3803 University NW Dr

      MOTEL • 24,732 SF
      3803 University NW Dr, Huntsville, AL 35816-3143
      View Details
    • Value Estimation
      $520,000
      26,686 SF

      3772 University NW Dr

      MOTEL • 26,686 SF
      3772 University NW Dr, Huntsville, AL 35816-3140
      View Details

    Similar Nearby for Sale

    • $750,000
      4,400 SF

      Huntsville Executive Office Space

      Prime Huntsville Office, 4,400 SF
      813 Memorial Pkwy, Huntsville, AL 35816
      View Details
    • $45,000
      0.17 Acres

      Huntsville Land For Sale

      0.17 acre commercial land available in Huntsville, Alabama.
      909 Lee Dr, Huntsville, AL 35816
      View Details
    • $59,900
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      Huntsville Land Ready For Development

      Level lot suitable for multi-family or student housing development.
      4901 Cotton Row, Huntsville, AL 35816
      View Details
    • $250,000
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      Huntsville Land: 1.15 Acres R-2B

      Prime Huntsville residential land, near major employers.
      0 Sparkman Dr, Huntsville, AL 35816
      View Details
    • $450,000
      3,980 SF

      Huntsville Quadruplex For Sale

      Northwest Huntsville quadruplex with two-bedroom units, ideal for investors.
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    • $750,000

      Commercial Property with Drive-Thru Lanes

      Commercial property suitable for retail use with convenient drive-thru lanes.
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    Similar Nearby for Lease

    • 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
    • $6,220 /Mo
      11,056 SF

      Huntsville Office Space Available

      Office space for rent in Huntsville, Alabama.
      3158 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
    • $120 SF/Yr
      9,200 SF

      Huntsville Flex Space - Jordan Lane

      Prime Huntsville flex space, 5,200 SF available.
      2422 Jordan Ln, Huntsville, AL 35816
      View Details
    • $15 SF/Yr
      17,164 SF

      Prime Office Building, Sparkman Drive

      17,164 SF Office, Ample Parking
      513 Sparkman Dr, Huntsville, AL 35816
      View Details
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    Huntsville, AL 35816-3137
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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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