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    Property profile & analytics

    5275 Millennium NW Dr Huntsville, AL 35806-2457

    • Medical Office Space
    • 17,332 SF
    • 4.40 lot acres
    OFF-MARKET
    Value Estimations
    $2,200,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0939177
    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

    • Aanita J. Robinson, LPTA / Physician
    • Nancy L. Stetson, LPTA / Physician
    • AHC Millennium / Nursing Home
    • Chandler Kimberly H / Pharmacy
    • Lindy Hudgins / Physician

    Property Details for 5275 Millennium NW Dr

    Year built
    2012
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.40 lot acres
    Property size
    17,332 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    14-09-30-1-002-001.002
    APU
    1409301002001002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,059,000
      Market price range: $2.87M - $4.45M
      AI Estimate
      $1,779,000
      Market price range: $762k - $3.05M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $3,510,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.6659
    Latitude
    34.7533
    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
    $28,384
    $76,560
    $412,820
    $489,380
    -
    $382,800
    $2,064,100
    $2,446,900

    Comparable in this City

    • Value Estimation
      $795,000
      3,296 SF

      7224 Governors Wnw

      MEDICAL BUILDING • 3,296 SF
      7224 Governors Wnw, Huntsville, AL 35806-2051
      View Details
    • Value Estimation
      $3,025,000
      17,424 SF

      1878 Jeff NW Rd

      MEDICAL BUILDING • 17,424 SF
      1878 Jeff NW Rd, Huntsville, AL 35806-4260
      View Details
    • Value Estimation
      $525,000
      3,962 SF

      6870 Research Park NW Blvd

      MEDICAL BUILDING • 3,962 SF
      6870 Research Park NW Blvd, Huntsville, AL 35806-1198
      View Details
    • Value Estimation
      $2,440,000
      125,845 SF

      451 Johns NW Rd

      HOMES (RETIRED, NURSING) • 125,845 SF
      451 Johns NW Rd, Huntsville, AL 35806-2941
      View Details
    • Value Estimation
      $1,230,000
      39,430 SF

      5275 Millennium NW Dr

      HOMES (RETIRED, NURSING) • 39,430 SF
      5275 Millennium NW Dr, Huntsville, AL 35806-2457
      View Details
    • Value Estimation
      $715,000
      4,254 SF

      7300 Madison Blvd

      OFFICE BUILDING • 4,254 SF
      7300 Madison Blvd, Huntsville, AL 35806-2063
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Move-in ready Class A corporate environment in Huntsville's innovation corridor.
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      Versatile 32,933 SF building suitable for various uses.
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      60,000 SF

      Huntsville Office Space with Auditorium

      Office suites with auditorium, high-speed internet, and advanced security.
      7800 Madison Blvd, Huntsville, AL 35806
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      12.49 Acres

      Sealy Commercial Development Land

      Huntsville, AL: Prime 12.49-acre site
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    Similar Nearby for Lease

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      120,000 SF

      Prime Huntsville Executive Office Space

      Class A Office Building, 120,000 SF Available
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      76,000 SF

      Huntsville Executive Office Space

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      Huntsville Executive Office Space

      Class-A Office, 25,766 SF Available
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    • Contact for pricing
      52,000 SF

      Huntsville Warehouse, Production, and Office

      Warehouse, production, and office space with convenient access and ample parking.
      7262 Governors Dr West, Huntsville, AL 35806
      View Details
    • $1,500 /Mo
      2,296 SF

      Huntsville Office Space For Lease

      Two-story office building with available suites and detached garage.
      1775 Jeff Rd, Huntsville, AL 35806
      View Details
    • $2,121 /Mo
      17,424 SF

      Huntsville Office Space Available

      Office suite for rent in Huntsville, approximately 1,157 SF.
      1878 W Jeff Rd NW, Huntsville, AL 35806
      View Details
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    Huntsville, AL 35806-2457
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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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