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    709th Memorial Dr Bessemer, AL 35022-6029
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    Property profile & analytics

    709th Memorial Dr, Bessemer, AL 35022-6029

    View on Map
    • Medical Office Space
    • 2,822 SF
    • 0.91 lot acres
    Off-Market
    Property ID
    US03-0653967
    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

    • Medical Office Space

    Property Details for 709th Memorial Dr

    Year built
    1988
    Lot size
    0.91 lot acres
    Zone code
    O1
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    38-00-19-1-005-007.001
    APU
    3800191005007001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 4, 2013 $230,000 Williams Properties LLC First Finl Bk Warranty Deed —
    Jul 30, 2008 — First Finl Bk Owner Name Unavailable Grant Deed · related —
    Jul 8, 2005 $1,300,000 Advanced Properties LLC Hogue,donald W JR & Victoria Warranty Deed $1M · First Fin'l Bk&tr
    May 28, 1998 $100,000 Donald W Hogue JR Hogue,donald W J Grant Deed · related —

    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
    Bessemer
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.9878
    Latitude
    33.373
    CBSA code
    13820
    CBSA name
    BIRMINGHAM-HOOVER, 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
    2022
    $4,354
    $13,900
    $68,540
    $82,440
    -
    $69,500
    $342,700
    $412,200

    Comparable in this City

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      $1,280,000
      10,319 SF

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    • Value Estimation
      $870,000
      7,258 SF

      737 Memorial Dr

      MEDICAL BUILDING
      737 Memorial Dr, Bessemer, AL 35022-6029
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    • Value Estimation by Request
      3,537 SF

      921 Medical Ctr Dr

      MEDICAL BUILDING
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    • Value Estimation
      $2,715,000
      8,478 SF

      4748 Bell Hl Rd

      MEDICAL BUILDING
      4748 Bell Hl Rd, Bessemer, AL 35022-6947
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    • Value Estimation
      $1,120,000
      6,691 SF

      4804 Bell Hl Rd

      MEDICAL BUILDING
      4804 Bell Hl Rd, Bessemer, AL 35022
      View Details
    • Value Estimation
      $1,740,000
      7,590 SF

      4730 Bell Hl Rd

      MEDICAL BUILDING
      4730 Bell Hl Rd, Bessemer, AL 35022-6947
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,936 SF

      Former Dental Office For Sale

      Former dental office with ample parking and strong visibility.
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      6,500 SF

      Medical Office Building Near UAB

      6,500+ SF medical office building across from UAB Medical West.
      737 Memorial Dr, Bessemer, AL 35022
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    • $2,800,000
      10,093 SF

      Bessemer Medical Office Investment Opportunity

      NNN leased medical office building with strong tenant mix.
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    • $1,250,000
      2.00 Acres

      Bessemer Commercial Property For Sale

      Well-maintained commercial property with income potential in established corridor.
      1090 9Th Ave, Bessemer, AL 35022
      View Details
    • $1,100,000
      9.84 Acres

      Bessemer Land Near UAB Hospital

      Commercial land near UAB West Hospital, suitable for retail/office.
      8027 Dickey Springs Rd, Bessemer, AL 35022
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    • Contact for pricing
      1,132 SF

      Commercial Land with Office Potential

      Land with existing structure suitable for office or redevelopment.
      170 Mccalla Rd, Bessemer, AL 35022
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    Similar Nearby for Lease

    • $20 SF/Yr

      Medical Office Tower For Lease

      Five-story medical office tower with highway visibility and ample parking.
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      21,840 SF

      Bessemer Warehouse Space For Lease

      Prime Industrial Space, 1,950 SF Available
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    • Contact for pricing

      Bessemer Office/Warehouse Space Available

      Office and warehouse space for lease in Bessemer, Alabama.
      3695 Pine Lane Cir, Bessemer, AL 35022
      View Details
    • Contact for pricing
      7,872 SF

      Office with Warehouse Space Available

      Office space with warehouse, convenient location, high-end finishes.
      5690 Pine Lane Cir, Bessemer, AL 35022
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    • $15 SF/Yr

      Retail Space Near I-459

      Retail space with high visibility and convenient location.
      3985 Parkwood Rd, Bessemer, AL 35022
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    • Contact for pricing

      Retail Space Near Aldi Store

      Retail space available near I-459 and new Aldi.
      2910 Morgan Rd, Bessemer, AL 35022
      View Details
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    Bessemer, AL 35022-6029
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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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