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

    3224 Rainbow Dr Gadsden, AL 35906-6202

    • Investment properties
    • 6,060 SF
    • 0.34 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-2720947
    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

    • Clokey Realty / Real Estate Agency / Property Management Company
    • Stop N Save / Convenience Store
    • Soraya L. Mchenry, EDS / Counselor / Doctor
    • Farmers Insurance Buddy & Nienna Ford / Insurance Agency
    • ETaxBreaks / Consultant

    Property Details for 3224 Rainbow Dr

    Year built
    1950
    Construction
    CONCRETE BLOCKS
    Lot size
    0.34 lot acres
    Property size
    6,060 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    15-05-21-4-000-030.000
    APU
    1505214000030000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Gadsden
    County
    Etowah
    State
    Alabama
    Longitude
    -86.0167
    Latitude
    33.9742
    CBSA code
    23460
    CBSA name
    GADSDEN, 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
    $3,500
    $10,420
    $61,000
    $71,420
    -
    $52,100
    $305,000
    $357,100

    Comparable in this City

    • Value Estimation by Request
      3,160 SF

      3802 Rainbow Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 3,160 SF
      3802 Rainbow Dr, Rainbow City, AL 35906-3018
      View Details
    • Value Estimation by Request
      6,810 SF

      3333 Rainbow Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 6,810 SF
      3333 Rainbow Dr, Rainbow City, AL 35906-6201
      View Details
    • Value Estimation by Request
      4,480 SF

      4000 Rainbow Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 4,480 SF
      4000 Rainbow Dr, Rainbow City, AL 35906-3020
      View Details
    • Value Estimation
      $3,480,000
      50,616 SF

      Grand Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 50,616 SF
      Grand Ave, Rainbow City, AL 35906
      View Details
    • Value Estimation by Request
      7,457 SF

      3340 Rainbow Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 7,457 SF
      3340 Rainbow Dr, Rainbow City, AL 35906-6200
      View Details
    • Value Estimation
      $1,460,000
      9,240 SF

      4010 Rainbow Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 9,240 SF
      4010 Rainbow Dr, Rainbow City, AL 35906-3021
      View Details

    Similar Nearby for Sale

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      Land For Sale, Rainbow City

      Land available in Rainbow City, Alabama.
      208 Vera Ln, Rainbow City, AL 35906
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    • $650,000
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      Horizon Place Mobile Home Investment

      10-lot mobile home investment in Rainbow City, Alabama.
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    • $95,500
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      Rainbow City Commercial Corner Lot

      Commercial or residential lot with highway frontage in Rainbow City.
      4012 Hwy 411, Rainbow City, AL 35906
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    • $49,900
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      Land For Sale, Rainbow City

      Land available in Rainbow City, Alabama.
      209 Vera Ln, Rainbow City, AL 35906
      View Details
    • $189,900
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      Commercial Lot in Rainbow City

      Highly visible 2+ acre corner lot for business opportunities.
      00 Sutton Bridge Rd, Rainbow City, AL 35906
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    • $159,900
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      Waterfront Lot in Rainbow City

      Waterfront lot with main channel access on Canoe Creek.
      4 Rainbow Dr, Rainbow City, AL 35906
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    Similar Nearby for Lease

    • Contact for pricing
      59,584 SF

      Rainbow Crossing Retail Spaces

      Etowah County retail spaces available.
      115 Grand Ave, Rainbow City, AL 35906
      View Details
    • Contact for pricing
      43,560 SF

      Rainbow City Retail Opportunity

      Prime 0.7-acre lot, build-to-suit.
      3354 Rainbow Dr, Rainbow City, AL 35906
      View Details
    • $8 SF/Yr
      219,473 SF

      Rainbow Plaza Retail Center

      Alabama Retail Space: High Visibility, Ample Parking
      3225 Rainbow Dr, Rainbow City, AL 35906
      View Details
    • Contact for pricing

      Rainbow City Retail Space Available

      Retail space for lease in Rainbow City, Alabama.
      3331 Rainbow Dr, Rainbow City, AL 35906
      View Details
    • $8 SF/Yr
      2,129,473 SF

      Rainbow City Commercial Property For Lease

      Newly renovated commercial property suitable for retail, office, or medical use.
      3225 Rainbow Dr, Rainbow City, AL 35906
      View Details
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    3224 Rainbow Dr
    Gadsden, AL 35906-6202
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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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