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Property profile & analytics
OFF-MARKET
Estimated value
$1,870,000
Outlet malls
3560 Lorna Rdg Dr Hoover, AL 35216-5247
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US03-1008463
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1986
Total area
12,801 SF
Lot
2.57 ac (112,036 SF)
Zoning code
I1
APN
40-00-07-3-001-052.025
UPID
US03-1008463
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.93M
Comparable Approach
Comparable
$2.42M
Blend (final)
Blend
$1.87M
Owner & transaction history
3520 Lorna Ridge Drive LLC · 10 yrs held
3520 Lorna Ridge Drive LLC
since 2015
5 recorded transactions
Zoning & alternative use
I1 · Hoover, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.6M
+64.9%
Medical building
$2.3M
+45.5%
Office building
$2.1M
+36.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Hoover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hoover submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,085,000
6.5%
$1,925,000
7%
$1,785,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,565,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,580,000
Change: +65% · Conversion: Difficult
MEDICAL BUILDING
$2,280,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$2,140,000
Change: +37% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,060,000
Change: +32% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,685,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$1.87M
Range $1.68M – $2.06M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$146 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$27,322
Tax year 2022
Assessed value
$462,640
Assessed 2023
Previous assessed
$376,340
+22.9% YoY
Effective rate
5.91%
On assessed value
Assessed land
$152,380
Assessed improvement
$310,260
Land market value
$761,900
Improvement market value
$1,551,300
Total market value
$2,313,200
Applied tax rate
23.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1986
Heating
SPACE
Cooling
YES
Stories
1
Bathrooms
2
Total area
12,801 SF
Lot
2.57 ac (112,036 SF)
Zoning code
I1
APN
40-00-07-3-001-052.025
UPID
US03-1008463
Jurisdiction
JEFFERSON
Zoning & alternative use
I1 · Hoover, AL
Zoning I1 · permitted uses
I1 · Hoover, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hoover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$1.7M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1986
Heating
SPACE
Cooling
Yes
Stories
1
Bathrooms
2
Lot
2.57 ac
Current owner
From public records · entity-resolved
3520 Lorna Ridge Drive LLC
Entity
Mailing address
5395 EMERY WAY #200, HOOVER, AL 35244-4592
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 14, 2025
—
3520 Lorna Ridge Drive LLC
—
Deed
related
$2,600,000 · Robertson Banking
Apr 23, 2020
—
3520 Lorna Ridge Drive LLC
—
Deed
related
$366,387 · Truist Bk
Nov 20, 2015
$2,500,000
3520 Lorna Ridge Drive LLC
Hoover Business Park LLC
Grant Deed
$2,125,000 · Branch Bk&tr
Aug 7, 2013
$861,400
Hoover Business Park LLC
Cobb Investment Co LLC
Warranty Deed
—
—
—
3520 Lorna Ridge Drive LLC
—
Deed Of Trust
related
$366,387 · Truist Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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