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    Property profile & analytics

    3340 Pelham Pkwy Pelham, AL 35124-2008

    • Retail space
    • 15,298 SF
    • 1.48 lot acres
    OFF-MARKET
    Value Estimations
    $2,675,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1831073
    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

    • Walgreens Photo / (Bike/Boat/Book/etc) Store
    • Walgreens Pharmacy / Pharmacy
    • Walgreens / Pharmacy
    • Cardtronics ATM / Atm
    • COVID-19 Drive-Thru Testing at Walgreens / Medical Laboratory

    Property Details for 3340 Pelham Pkwy

    Year built
    2006
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.48 lot acres
    Property size
    15,298 SF
    Property type
    Retail space
    APN
    136243002012008
    APU
    136243002012008

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,673,000
      Market price range: $919k - $2.73M
      AI Estimate
      $2,673,000
      Market price range: $919k - $2.73M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,910,000
      Current use
      MEDICAL BUILDING
      $2,795,000
      Change: +46% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,980,000
      Change: +4% Conversion: Easy
      OFFICE BUILDING
      $1,885,000
      Change: -1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Pelham
    County
    Shelby
    State
    Alabama
    Longitude
    -86.8124
    Latitude
    33.2763
    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
    2023
    $24,058
    $0.00
    $0.00
    $414,800
    -
    $670,480
    $1,403,480
    $2,073,960

    Comparable in this City

    • Value Estimation
      $1,070,000
      6,000 SF

      2271 Pelham Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      2271 Pelham Pkwy, Pelham, AL 35124-1334
      View Details
    • Value Estimation by Request
      12,000 SF

      Amphitheater Rd

      Individual retail properties • 12,000 SF
      0 Amphitheater Rd, Pelham, AL 35124
      View Details
    • Value Estimation
      $1,340,000
      7,510 SF

      3460 Pelham Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 7,510 SF
      3460 Pelham Pkwy, Pelham, AL 35124-2010
      View Details
    • Value Estimation
      $1,505,000
      15,000 SF

      3010 Pelham Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 15,000 SF
      3010 Pelham Pkwy, Pelham, AL 35124-2020
      View Details
    • Value Estimation
      $980,000
      5,880 SF

      3183 Pelham Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 5,880 SF
      3183 Pelham Pkwy, Pelham, AL 35124-2231
      View Details
    • Value Estimation
      $1,225,000
      6,880 SF

      Pelham, AL 35124

      RETAIL STORES (PERSONAL SERVICES) • 6,880 SF
      Pelham, AL 35124
      View Details

    Similar Nearby for Sale

    • $495,000
      0.57 Acres

      Retail Opportunity in Pelham, Alabama

      Retail property in Pelham, suitable for auto shop or other business.
      3430 Pelham Pkwy, Pelham, AL 35124
      View Details
    • $325,000
      1,330 SF

      Commercial Building on Large Lot

      1,330 SF building on 2.05 acre lot for sale.
      3280 Highway 52 W, Pelham, AL 35124
      View Details
    • Contact for pricing
      2,480 SF

      Pelham Parkway Retail/Office Opportunity

      2,480 SF building on 0.50-acre lot in Pelham, AL.
      2621 Pelham Pkwy, Pelham, AL 35124
      View Details
    • Contact for pricing
      3,216 SF

      Highway Frontage Commercial Building

      3,216 SF building on 0.43 acres near Hoover/Pelham border.
      2127 Old Montgomery Hwy, Pelham, AL 35124
      View Details
    • Contact for pricing
      22,400 SF

      Pelham Warehouse with Secure Bays

      22,400 SF warehouse with four secure bays in Pelham.
      1455 Mccain Pkwy, Pelham, AL 35124
      View Details
    • $125,000
      3.20 Acres

      Residential Land in High Hampton

      Two lots totaling 3.2 acres in High Hampton neighborhood.
      134 Hampton Lake Dr, Pelham, AL 35124
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Available For Lease

      Single tenant retail space available, approximately 5,290 square feet.
      201 Southgate Dr, Pelham, AL 35124
      View Details
    • $15 SF/Yr

      Versatile Space in Pelham, AL

      Adaptable commercial space suitable for office, retail, or medical use.
      201 Yeager Pkwy, Pelham, AL 35124
      View Details
    • $10,000 /Mo

      Pelham Parkway Showroom/Warehouse Space

      Renovated showroom/warehouse with excellent visibility and convenient access.
      3543 Pelham Pkwy, Pelham, AL 35124
      View Details
    • Contact for pricing

      Pelham Highway 31 Mixed-Use Space

      Retail, office, and storage space with Highway 31 frontage.
      2706 Pelham Pkwy, Pelham, AL 35124
      View Details
    • Contact for pricing

      Retail Center at Highway Intersection

      Located at the intersection of Highway 31 and Highway 119.
      100 Commerce Pkwy, Pelham, AL 35124
      View Details
    • Contact for pricing

      Retail Space in Pelham Parkway

      Neighborhood center with excellent visibility and high traffic.
      3570 Pelham Pkwy, Pelham, AL 35124
      View Details
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    Pelham, AL 35124-2008
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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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