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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

    • Investment properties
    • 41,845 SF
    • 2.21 lot acres
    OFF-MARKET
    Value Estimations
    $3,610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0821943
    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
    1981
    Lot size
    2.21 lot acres
    Property size
    41,845 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    15-07-25-0-002-003.001
    APU
    1507250002003001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,810,000
      Market price range: $3.18M - $10.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.6794
    Latitude
    34.7437
    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
    $31,625
    $205,020
    $340,240
    $545,260
    -
    $1,025,100
    $1,701,200
    $2,726,300

    Comparable in this City

    • Value Estimation by Request
      4,526 SF

      1801 Jeff NW Rd

      STORE/OFFICE (MIXED USE) • 4,526 SF
      1801 Jeff NW Rd, Huntsville, AL 35806-1067
      View Details
    • Value Estimation
      $3,355,000
      19,964 SF

      6290 University NW Dr

      STORE/OFFICE (MIXED USE) • 19,964 SF
      6290 University NW Dr, Huntsville, AL 35806-1790
      View Details
    • Value Estimation
      $1,180,000
      12,060 SF

      1111 Wayne NW Rd

      STORE/OFFICE (MIXED USE) • 12,060 SF
      1111 Wayne NW Rd, Huntsville, AL 35806-3567
      View Details
    • Value Estimation
      $8,275,000
      42,830 SF

      6890 Governors Wnw

      STORE/OFFICE (MIXED USE) • 42,830 SF
      6890 Governors Wnw, Huntsville, AL 35806-3202
      View Details
    • Value Estimation
      $8,095,000
      41,922 SF

      300 The Brg St

      STORE/OFFICE (MIXED USE) • 41,922 SF
      300 The Brg St, Huntsville, AL 35806-0004
      View Details
    • Value Estimation
      $1,010,000
      9,230 SF

      5310 Millennium NW Dr

      STORE/OFFICE (MIXED USE) • 9,230 SF
      5310 Millennium NW Dr, Huntsville, AL 35806-2501
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12.49 Acres

      Sealy Commercial Development Land

      Huntsville, AL: Prime 12.49-acre site
      0 Plummer Rd, Huntsville, AL 35806
      View Details
    • New
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      Mixed-Use Townhouse in Huntsville, AL

      Updated mixed-use townhouse with office and residential spaces for sale.
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    • $250,000

      Huntsville Dickey's BBQ Franchise

      Profitable BBQ Restaurant, High Growth Area
      6886 Governors Dr, Huntsville, AL 35806
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    • $757,944
      2.90 Acres

      Huntsville Research Park Land

      2.9 Acres, Prime Location, $757K
      0 2.9 Ac Research Park Blvd, Huntsville, AL 35806
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    • $2,590,500

      Prime Retail Land on University

      4.71 acre retail development opportunity on University Drive.
      7001 University Dr NW, Huntsville, AL 35806
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    • Contact for pricing
      40,000 SF

      Huntsville Office Building For Sale

      40,000 SF office building with various configurations available.
      977 Explorer Blvd NW, Huntsville, AL 35806
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    Similar Nearby for Lease

    • Contact for pricing
      151,565 SF

      Huntsville Office Space: 151,565 SF

      Prime Huntsville office building, multiple tenancy options.
      475 Quality Cir, Huntsville, AL 35806
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    • $22 SF/Yr
      102,000 SF

      Bradford Office Park: Huntsville, AL

      Prime Huntsville Office Space: Flexible Suites Available
      5025 Bradford Dr, Huntsville, AL 35806
      View Details
    • $18 SF/Yr
      25,000 SF

      Huntsville Executive Office Space

      25,000 SF Office Building For Lease
      4920 University Sq, Huntsville, AL 35806
      View Details
    • Contact for pricing
      102,000 SF

      Huntsville Executive Office Campus

      Class A Office Space, 42,000-60,000 SF Available
      0 Bradford Dr, Huntsville, AL 35806
      View Details
    • $23 SF/Yr
      96,636 SF

      Huntsville Class A Office Space

      Prime Huntsville location, 3 suites available.
      1500 Perimeter Pkwy, Huntsville, AL 35806
      View Details
    • $31 SF/Yr
      78,053 SF

      Huntsville Executive Office Park

      Prime Huntsville location, Class B office space.
      6700 Odyssey Dr, Huntsville, AL 35806
      View Details
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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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