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    603 Hargrove Rd E Tuscaloosa, AL 35401

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    603 Hargrove Rd E Tuscaloosa, AL 35401

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    • Apartment buildings
    • 38,592 SF
    For Sale
    $3,490,000
    View Listing →
    Tuscaloosa Multifamily Investment Opportunity For Sale
    $3,490,000
    38,592 SF

    Tuscaloosa Multifamily Investment Opportunity

    48-unit apartment community in central Tuscaloosa, fully occupied.

    603 Hargrove E Rd, Tuscaloosa, AL 35401
    View Listing
    Property ID
    US03-0647106
    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

    • Meadowbrook Apartments / Apartment Complex / Housing Complex

    Property Details for 603 Hargrove Rd E

    Year built
    1966
    Property size
    38,592 SF
    Property type
    Apartment buildings

    Description

    Meadowbrook Apartments is a 1966 vintage 48- unit apartment community located in Tuscaloosa, Alabama. With two floor plans ranging from 1 bedroom 1 bath to 2 bedrooms 1 bath, the average unit size is approximately 800 square feet. This asset is fully occupied, and rent is below market in many cases. Units were updated with paint, LVT flooring, and new lighting in 2019. These units have attracted working class residents who enjoy the central Tuscaloosa location at an affordable price.

    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
    Tuscaloosa
    County
    Tuscaloosa
    State
    Alabama
    Longitude
    -87.5276578
    Latitude
    33.1868775

    Comparable in this City

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      Tuscaloosa Multifamily Portfolio Opportunity

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      Tuscaloosa Multi-Unit Investment Property

      27-bedroom, 31-bathroom multi-unit property near The University of Alabama.
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      On-Campus Investment Property

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    • $200,000
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      Vacant Building with Walk-in Cooler

      Vacant building suitable for warehouse, apartments, or retail.
      1124 17Th St, Tuscaloosa, AL 35401
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      Downtown Tuscaloosa Condo Retail Space

      High-visibility office/retail condo, 785 sq ft.
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      Condo Near Bryant-Denny Stadium

      Condo unit 0.4 miles from Bryant-Denny Stadium, Tuscaloosa, AL.
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      View Details

    Similar Nearby for Sale

    • New
      $1,900,000
      1,792 SF

      Tuscaloosa Multifamily Portfolio Opportunity

      Portfolio of ten income-producing properties near the University of Alabama.
      2741 Sumner Pl, Tuscaloosa, AL 35401
      View Details
    • $5,400,000
      Pending

      Tuscaloosa Multi-Unit Investment Property

      27-bedroom, 31-bathroom multi-unit property near The University of Alabama.
      1216 14Th Ave, Tuscaloosa, AL 35401
      View Details
    • $219,900
      785 SF

      Downtown Tuscaloosa Condo Retail Space

      High-visibility office/retail condo, 785 sq ft.
      2531 University Blvd, Tuscaloosa, AL 35401
      View Details
    • Contact for pricing

      Condo Near Bryant-Denny Stadium

      Condo unit 0.4 miles from Bryant-Denny Stadium, Tuscaloosa, AL.
      1212 12Th St, Tuscaloosa, AL 35401
      View Details
    • $3,490,000
      38,592 SF

      Tuscaloosa Multifamily Investment Opportunity

      48-unit apartment community in central Tuscaloosa.
      603 Hargrove Rd E, Tuscaloosa, AL 35401
      View Details
    • $200,000
      1,300 SF

      Vacant Building with Walk-in Cooler

      Vacant building suitable for warehouse, apartments, or retail.
      1124 17Th St, Tuscaloosa, AL 35401
      View Details

    Similar Nearby for Lease

    • $2,750 /Mo
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      Tuscaloosa Commercial Building For Lease

      3,225 SF commercial building near downtown Tuscaloosa available for lease.
      1220 Hargrove Rd, Tuscaloosa, AL 35401
      View Details
    • $2,458 /Mo
      1,639 SF

      Functional Office Space in Tuscaloosa

      Comfortable and functional office space with ample parking.
      514 Hargrove Rd, Tuscaloosa, AL 35401
      View Details
    • $1.10 SF/Yr
      43,560 SF

      Tuscaloosa Industrial Land For Sale/Lease

      ±1 Acre, I-359 Visibility, Ready to Develop
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      Tuscaloosa Industrial Park Site

      Industrial site for rent in Tuscaloosa Industrial Park.
      Industrial Park Dr, Tuscaloosa, AL 35401
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      2,587 SF

      Retail Spaces at Riverfront Village

      Inline, vanilla shell retail spaces available for lease.
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      View Details
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      Remodeled Office Building in Tuscaloosa

      Remodeled office building with three offices, kitchen, and parking.
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      View Details
    View Listing
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    Tuscaloosa, AL 35401
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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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    603 Hargrove Rd E, Tuscaloosa, AL, 35401

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