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    5690 Watermelon Rd Northport, AL 35473
    Property profile & analytics

    5690 Watermelon Rd, Northport, AL 35473

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    • Office buildings
    • 3,790 SF
    For Sale
    $995,000
    View Listing →
    Professional Office Building in Northport For Sale
    $995,000
    4,200 SF

    Professional Office Building in Northport

    Well-appointed office building ideal for law, finance, or medical practices.

    5690 Watermelon Road, Northport, AL 35473
    View Listing
    Property ID
    US03-0702728
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 5690 Watermelon Rd

    Year built
    2010
    Construction
    WOOD
    Zone code
    C-2
    Property type
    Office buildings
    APN
    20-07-35-4-001-021.004
    APU
    2007354001021004

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 27, 2010 $564,000 Phj W F Trick Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Northport
    County
    Tuscaloosa
    State
    Alabama
    Longitude
    -87.5445
    Latitude
    33.2603
    CBSA code
    46220
    CBSA name
    TUSCALOOSA, 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
    $2,993
    $10,000
    $67,740
    $77,740
    -
    $50,000
    $338,700
    $388,700

    Comparable in this City

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      1414 Martin E Rd

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      4300 Hwy 69th N

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    • Value Estimation
      $1,130,000
      9,473 SF

      4200 Hwy 69th N

      OFFICE BUILDING
      4200 Hwy 69th N, Northport, AL 35473-3504
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    • Value Estimation
      $800,000
      1,500 SF

      5970 Watermelon Rd

      OFFICE BUILDING
      5970 Watermelon Rd, Northport, AL 35473-7102
      View Details
    • Value Estimation by Request
      7,200 SF

      5290 Watermelon Rd

      OFFICE BUILDING
      5290 Watermelon Rd, Northport, AL 35473-7673
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,200 SF

      Professional Office Building For Sale

      Well-appointed commercial office building with flexible floorplan and upscale detailing.
      5690 Watermelon Rd, Northport, AL 35473
      View Details
    • Contact for pricing

      Renovated Office Building For Sale

      Newly renovated office building in a convenient location.
      5710 Watermelon Rd, Northport, AL 35473
      View Details
    • $995,000
      4,200 SF

      Professional Office Building in Northport

      Well-appointed office building ideal for law, finance, or medical practices.
      5690 Watermelon Rd, Northport, AL 35473
      View Details
    • $3,299,000
      12,000 SF

      New Class A Office Space

      Modern 12,000 SF office space in fast-growing Northport, Alabama.
      5051 Un Sta, Northport, AL 35473
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    • Contact for pricing

      Highway Frontage Commercial Land Available

      2.60 acre commercial land with highway frontage for sale.
      5620 Highway 43 N, Northport, AL 35473
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    • Contact for pricing
      10,413 SF

      Vacant Lot in Developing Area

      Vacant commercial lot available for sale in a developing area.
      5690 Watermelon Rd, Northport, AL 35473
      View Details

    Similar Nearby for Lease

    • $6,000 /Mo
      4,200 SF

      Northport Commercial Office Space

      Well-appointed office building with flexible floorplan in premier location.
      5690-L Watermelon Rd, Northport, AL 35473
      View Details
    • Contact for pricing
      3,956 SF

      Northport Office Space Available

      3,956 SF office space with high-end finishes and flexibility.
      5500 Watermelon Rd, Northport, AL 35473
      View Details
    • Contact for pricing

      Tuscaloosa Retail/Medical/Office Building

      3,690 SF building ideal for retail, medical, or office.
      3410 Highway 69 N, Tuscaloosa, AL 35473
      View Details
    • $4,500 /Mo
      3,956 SF

      Northport Office Space Available

      3,956 SF office space suitable for various business types.
      5500 Watermelon Rd, Northport, AL 35473
      View Details
    • Contact for pricing

      Freestanding Building in Northport

      3,690 SF building ideal for retail, medical, or office.
      3410 Al-69, Northport, AL 35473
      View Details
    • $15 SF/Yr
      2,500 SF

      Northport Retail Space For Rent

      2500 SF retail space in a proven Northport location.
      4550 Station Cir, Northport, AL 35473
      View Details
    View Listing
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    Northport, AL 35473
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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.

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    5690 Watermelon Rd, Northport, AL, 35473
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