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

    5275 Millennium NW Dr Huntsville, AL 35806-2457

    • Assisted living facilities
    • 39,430 SF
    • 6.60 lot acres
    OFF-MARKET
    Last Sale
    Apr 23, 2021
    Value Estimations
    $1,230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-2028885
    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
    2006
    Lot size
    6.60 lot acres
    Property size
    39,430 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    14-09-30-1-002-001.007
    APU
    1409301002001007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $830,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,633,000
      Market price range: $605k - $2.30M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $1,315,000
      Current use
      OFFICE BUILDING
      $1,670,000
      Change: +27% Conversion: Difficult
      RETAIL STORES
      $1,570,000
      Change: +20% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,545,000
      Change: +17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.6645
    Latitude
    34.7526
    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
    $56,502
    $114,840
    $859,340
    $974,180
    -
    $574,200
    $4,296,700
    $4,870,900

    Comparable in this City

    • 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
      $795,000
      3,296 SF

      7224 Governors Wnw

      MEDICAL BUILDING • 3,296 SF
      7224 Governors Wnw, Huntsville, AL 35806-2051
      View Details
    • Value Estimation
      $2,200,000
      17,332 SF

      5275 Millennium NW Dr

      MEDICAL BUILDING • 17,332 SF
      5275 Millennium NW Dr, Huntsville, AL 35806-2457
      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
      $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 by Request
      8.00 Acres

      Dan Tibbs Rd

      Land • 8.00 Acres
      0 Dan Tibbs Rd, Huntsville, AL 35806
      View Details

    Similar Nearby for Sale

    • $757,944
      2.90 Acres

      Huntsville Research Park Land

      2.9 Acres, Prime Location, $757K
      0 2.9 Ac Research Park Blvd, Huntsville, AL 35806
      View Details
    • $2,590,500

      Prime Retail Land on University

      4.71 acre retail development opportunity on University Drive.
      7001 University Dr NW, Huntsville, AL 35806
      View Details
    • Contact for pricing
      40,000 SF

      Huntsville Office Building For Sale

      40,000 SF office building with various configurations available.
      977 Explorer Blvd NW, Huntsville, AL 35806
      View Details
    • Contact for pricing

      Prime Commercial Land Available

      Commercial land for sale at a high-traffic intersection.
      Nec Of Memorial Pkwy & Countess Rd, Huntsville, AL 35806
      View Details
    • $300,000
      2.05 Acres

      Huntsville Land on Research Park

      2 acres on Research Park Blvd with 700' frontage.
      2.05 Acres Research Park Blvd, Huntsville, AL 35806
      View Details
    • $75,000
      1.00 Acre

      Huntsville Land Parcel For Sale

      One acre land parcel in Huntsville, Alabama available for purchase.
      1 Acre Easement Jeff Rd, Huntsville, AL 35806
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      151,565 SF

      Huntsville Office Space: 151,565 SF

      Prime Huntsville office building, multiple tenancy options.
      475 Quality Cir, Huntsville, AL 35806
      View Details
    • $22 SF/Yr
      102,000 SF

      Bradford Office Park: Huntsville, AL

      Prime Huntsville Office Space: Flexible Suites Available
      5025 Bradford Dr, Huntsville, AL 35806
      View Details
    • $18 SF/Yr
      25,000 SF

      Huntsville Executive Office Space

      25,000 SF Office Building For Lease
      4920 University Sq, Huntsville, AL 35806
      View Details
    • Contact for pricing
      41,054 SF

      Huntsville Flex Space: Progress Center #7

      Prime Huntsville location, 8,904 SF available.
      6767 Old Madison Pike, Huntsville, AL 35806
      View Details
    • $22 SF/Yr
      13,042 SF

      Huntsville Office Space: Prime Location

      Executive Suites, Coworking, Creative Offices
      7027 Old Madison Pike, Huntsville, AL 35806
      View Details
    • $20 SF/Yr
      51,440 SF

      Huntsville Office Space: 150 West Park Loop

      Prime Huntsville office space, multiple suites available.
      150 Park Loop, 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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