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

    6241 University NW Dr Huntsville, AL 35806-1711

    • Retail space
    • 1.31 lot acres
    OFF-MARKET
    Last Sale
    Sep 04, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0285471
    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

    • TRIO / Bar & Pub
    • Good Timez Billiards / Arcade & Gaming Center
    • Kelly Services / Employment Agency
    • David's Bridal Alterations / (Bike/Boat/Book/etc) Store
    • ATM / Atm

    Property Details for 6241 University NW Dr

    Year built
    2002
    Construction
    MIXED
    Lot size
    1.31 lot acres
    Property type
    Retail space
    APN
    15-07-25-0-002-003.002
    APU
    1507250002003002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.6815
    Latitude
    34.7446
    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
    $21,183
    $162,260
    $202,960
    $365,220
    -
    $811,300
    $1,014,800
    $1,826,100

    Comparable in this City

    • Value Estimation by Request
      12,510 SF

      6945 Highway 72

      Lifestyle centers • 12,510 SF
      6945 Highway 72, Huntsville, AL 35806
      View Details
    • Value Estimation
      $625,000
      4,236 SF

      200 The Brg St

      RETAIL STORES (PERSONAL SERVICES) • 4,236 SF
      200 The Brg St, Huntsville, AL 35806-0042
      View Details
    • Value Estimation
      $8,295,000
      27,000 SF

      6407 University NW Dr

      RETAIL STORES (PERSONAL SERVICES) • 27,000 SF
      6407 University NW Dr, Huntsville, AL 35806-1715
      View Details
    • Value Estimation
      $10,080,000
      37,390 SF

      5900 University NW Dr

      RETAIL STORES (PERSONAL SERVICES) • 37,390 SF
      5900 University NW Dr, Huntsville, AL 35806-2522
      View Details
    • Value Estimation
      $17,720,000
      182,992 SF

      301 The Brg St

      STORE, RETAIL OUTLET • 182,992 SF
      301 The Brg St, Huntsville, AL 35806-0003
      View Details
    • Value Estimation
      $18,100,000
      156,778 SF

      6275 University NW Dr

      RETAIL STORES (PERSONAL SERVICES) • 156,778 SF
      6275 University NW Dr, Huntsville, AL 35806-1776
      View Details

    Similar Nearby for Sale

    • $1,199,000
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      Renovated Office Warehouse Space

      Renovated office warehouse in Huntsville with flexible layouts.
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      Huntsville Flex Space - $3.95M

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      20.00 Acres

      Huntsville Commercial Land Opportunity

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      Turn-key restaurant with indoor and outdoor seating for sale.
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    Similar Nearby for Lease

    • Contact for pricing
      169,388 SF

      University Place Retail Center

      Huntsville, AL: Prime Retail Space Available
      6125 University Dr, Huntsville, AL 35806
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    • Contact for pricing
      9,490 SF

      New Retail Center in Huntsville

      Retail center near Publix, accessible from Research Park Blvd.
      5800 Oakwood Rd, Huntsville, AL 35806
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    • Contact for pricing
      41,000 SF

      Retail Space in Enterprise Plaza

      Retail space for lease in high-traffic shopping center.
      6140A University Dr Nw, Huntsville, AL 35806
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    • Contact for pricing

      Huntsville Outparcel Retail Opportunity

      Retail outparcel with excellent visibility and accessibility on Highway 72.
      Highway 72 West, Huntsville, AL 35806
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    • Contact for pricing
      5,800 SF

      Land Adjacent to Bridge Street

      Land available for ground lease or build to suit.
      6610 Old Madison Pike NW, Huntsville, AL 35806
      View Details
    • $1.00 SF/Yr
      15,000 SF

      Huntsville Retail or Office Space

      High-visibility commercial building suitable for retail or office use.
      6485 University Dr NW, Huntsville, AL 35806
      View Details

    Property Visit Statistics

    • Visits by month
      2.9k
    • Visitors by month
      2.8k
    • Avg Time on site
      54 min
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    Huntsville, AL 35806-1711
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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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