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Property profile & analytics
OFF-MARKET Estimated value $12,705,000
Retail properties & Spaces

5561 Grv Blvd Hoover, AL 35226-4600

193,208 SF 6.7 ac lot Built 2009
Entity Owned 18-yr Hold Free & Clear
Property ID
US03-0818350
Property summary
AI-generated overview

The Grove, a 136,618 square-foot power center in Hoover, Alabama, presents a unique investment opportunity. Situated on 1.1 acres (with a total lot size of 48.9 acres), this multi-tenant property boasts a prime location at 5561 Grove Blvd, Birmingham, AL 35226, near the intersection of Interstates 459 and 65. The center benefits from high daily traffic volume, estimated at 79,020 vehicles on I-459 alone. Strong anchors include Marshalls, Petco, and Dollar Tree, with shadow anchors such as Super Target, Kohl's, and At Home, ensuring consistent foot traffic and brand recognition. Built in 2009, the property offers 1,058 parking spaces for customer convenience. This Jefferson County location is within the affluent Birmingham-Hoover metropolitan submarket, a thriving center of commerce, industry, and culture in Alabama. One acre outparcel is also available. This property offers exceptional visibility and accessibility, attracting both local and regional shoppers. The available space presents a compelling opportunity for businesses seeking a high-traffic, well-established retail location in a dynamic market.

Property profile
Verified
Property type Retail properties & Spaces
Use group DEPARTMENT STORE
Year built 2009
Total area 193,208 SF
Lot 6.7 ac (291,852 SF)
Zoning code PC
APN 39-00-21-4-000-001.028
UPID US03-0818350
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
$13.83M
Blend (final) Blend
$12.71M
Owner & transaction history
Target Corp · 18 yrs held
Target Corp
since 2007
1 recorded transaction
2007
Price N/A
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
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