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

    3545 Grandview Pkwy Birmingham, AL 35243-1928

    • Garden apartment buildings
    • 199,671 SF
    • 11.00 lot acres
    OFF-MARKET
    Value Estimations
    $25,330,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0895438
    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

    • Parc at Grandview / Apartment Complex / Apartment Rental Agency
    • HealthAir / Medical Clinic
    • Lauren and Justin's Apartment / Apartment Building
    • Eyelash Lounge / Beauty Salon
    • Citywide Handymen / Handyman

    Property Details for 3545 Grandview Pkwy

    Year built
    2012
    Lot size
    11.00 lot acres
    Property size
    199,671 SF
    Zone code
    C1
    Property type
    Garden apartment buildings
    APN
    28-00-26-2-001-028.000
    APU
    2800262001028000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $24,000,000
      6.5%
      $22,150,000
      7%
      $20,570,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $40,260,000
      Current use
      MEDICAL BUILDING
      $35,540,000
      Change: -12% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $35,005,000
      Change: -13% Conversion: Moderate
      OFFICE BUILDING
      $33,385,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Birmingham
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.7201
    Latitude
    33.4394
    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
    $796,965
    $971,469
    $10,165,671
    $11,137,140
    -
    $4,913,600
    $51,417,000
    $56,330,600

    Comparable in this City

    • Value Estimation
      $905,000
      12,764 SF

      3109 Greendale Rd

      GARDEN APT, COURT APT (5+ UNITS) • 12,764 SF
      3109 Greendale Rd, Vestavia, AL 35243-5376
      View Details
    • Value Estimation
      $1,155,000
      14,220 SF

      3250 Bearden Ct

      GARDEN APT, COURT APT (5+ UNITS) • 14,220 SF
      3250 Bearden Ct, Vestavia, AL 35243-5404
      View Details
    • Value Estimation
      $945,000
      12,504 SF

      100 Bridle Ln

      GARDEN APT, COURT APT (5+ UNITS) • 12,504 SF
      100 Bridle Ln, Birmingham, AL 35243-2108
      View Details
    • Value Estimation
      $1,655,000
      22,221 SF

      3540 Grandview Pkwy

      GARDEN APT, COURT APT (5+ UNITS) • 22,221 SF
      3540 Grandview Pkwy, Birmingham, AL 35243-1929
      View Details
    • Value Estimation by Request

      Brookwood Grn Trce

      Land
      0 Brookwood Grn Trce, Vestavia Hills, AL 35243
      View Details
    • Value Estimation by Request
      1.20 Acres

      3124 Blue Lake Dr

      Land • 1.20 Acres
      3124 Blue Lake Dr, Vestavia Hills, AL 35243
      View Details

    Similar Nearby for Sale

    • $265,000

      Charming Updated Condo in Vestavia

      Updated 2 bed, 2 bath condo in Cahaba Heights.
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    • $559,000
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      Luxury Townhome in Cahaba Heights

      Stunning townhome with walkability and high-end finishes in Vestavia Hills.
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      Well-Maintained Condo with Creek View

      Comfortable condo with modern amenities, convenient location, and creek view.
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      Spacious Townhome with Fenced Backyard

      3 bed, 2.5 bath townhome with private backyard and garage.
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    • $505,000
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      Mountain Brook End-Unit Condominium

      Well-appointed condo in gated community, convenient to highways and amenities.
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    • $2,000,000

      Vestavia Hills Commercial Land

      Prime 2.4-acre commercial lot, ready to build.
      0 Brookwood Grn Trce, Vestavia Hills, AL 35243
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Vestavia Commercial Land For Lease

      Prime 0.36-acre lot, ideal medical use.
      3116 Timberlake Dr, Vestavia Hills, AL 35243
      View Details
    • $25 SF/Yr
      6,351 SF

      Vestavia Hills Office Space For Lease

      Class A Office, 764-6351 sq ft available
      3121 Blue Lk Dr, Vestavia Hills, AL 35243
      View Details
    • $25 SF/Yr

      Class A Suburban Office Building

      Class A office building with prominent signage and fitness room.
      3595 Grandview Pkwy, Birmingham, AL 35243
      View Details
    • $23 SF/Yr
      148,964 SF

      Prime Birmingham Office Space

      Class A Office Suites, 913-19,607 SF
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      View Details
    • $24 SF/Yr
      145,715 SF

      Executive Office Suites, Hoover

      Class A Office Space, Flexible Sizes
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      View Details
    • $21 SF/Yr

      Retail/Office Space Near Vestavia

      Retail or office space available near Vestavia Hills High School.
      2496 Rocky Ridge Rd, Birmingham, AL 35243
      View Details
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    Birmingham, AL 35243-1928
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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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