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Property profile & analytics
FOR LEASE
Retail properties & Spaces
5513 Grove Blvd Hoover, AL 35226
Entity Owned
17-yr Hold
Absentee Owner
Free & Clear
Property ID
US03-0990531
For Lease
1 / 4
$8,775,000
5513 Grove Blvd, Hoover, AL 35226
View Listing →
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
2010
Total area
99,134 SF
Lot
6.8 ac (296,208 SF)
Zoning code
PC
APN
39-00-21-4-000-001.011
UPID
US03-0990531
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
by Request
Comparable Approach
Comparable
$6.20M
Blend (final)
Blend
$8.78M
Owner & transaction history
Kohls Dept Stores INC · 17 yrs held
Kohls Dept Stores INC
since 2009
1 recorded transaction
Zoning & alternative use
PC · Hoover, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
land to be zoned PUD shall be in one of the following minimum sizes based upon the proposed use of such tract: A. Five acres, when utilizing a mixed use "village center" design concept comprised of PO Planned Office, PC Planned Commercial uses, and upper-floor and/or townhouse residential components; B. Ten acres, when utilizing PO Planned Office and PC Plan…
Zone name
Planned Commercial
General category
COMMERCIAL
Zone area
1,769.72 ac
Source
Hoover Zoning Ordinance
Top alternative use upside
Commercial (general)
$13.3M
+9.9%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$12,125,000
Current use
COMMERCIAL (GENERAL)
$13,325,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$8.78M
Range $7.90M – $9.65M · ±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
$89 / 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
$124,268
Tax year 2022
Assessed value
$1,858,420
Assessed 2023
Previous assessed
$1,711,680
+8.6% YoY
Effective rate
6.69%
On assessed value
Assessed land
$464,762
Assessed improvement
$1,393,658
Land market value
$2,369,700
Improvement market value
$7,105,900
Total market value
$9,475,600
Applied tax rate
66.0000
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
For Lease
Year built
2010
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
1
Total area
99,134 SF
Lot
6.8 ac (296,208 SF)
Zoning code
PC
APN
39-00-21-4-000-001.011
UPID
US03-0990531
Jurisdiction
JEFFERSON
Zoning & alternative use
PC · Hoover, ALZoning PC · permitted uses
PC · Hoover, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
land to be zoned PUD shall be in one of the following minimum sizes based upon the proposed use of such tract: A. Five acres, when utilizing a mixed use "village center" design concept comprised of PO Planned Office, PC Planned Commercial uses, and upper-floor and/or townhouse residential components; B. Ten acres, when utilizing PO Planned Office and PC Planned Commercial uses (may also include townhouse residential components); C.
Zone name
Planned Commercial
General category
COMMERCIAL
Zone area
1,769.72 ac
Source
Hoover Zoning Ordinance
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$12.1M
COMMERCIAL (GENERAL)
Est. value
$13.3M
RETAIL STORES Current
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
2010
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
6.8 ac
Current owner
From public records · entity-resolved
Kohls Dept Stores INC
Entity
Free & Clear · 17 yrs held
Mailing address
56TH RIDGEWOOD DR, MENOMONEE FALLS, WI 53051-5660
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2009
—
Kohls Dept Stores INC
Owner Name Unavailable
Grant Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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