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

    722 Memorial Dr Bessemer, AL 35022-6099

    • Medical offices
    • 2,058 SF
    • 0.30 lot acres
    OFF-MARKET
    Last Sale
    Jan 31, 2022
    $160,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0969516
    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

    • Dr. Christopher Portante, DO / Family Practice Physician

    Property Details for 722 Memorial Dr

    Year built
    1971
    Lot size
    0.30 lot acres
    Property size
    2,058 SF
    Zone code
    1
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    38-00-19-1-006-011.000
    APU
    3800191006011000

    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
    Bessemer
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.9884
    Latitude
    33.3726
    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
    $2,609
    $4,580
    $31,180
    $35,760
    -
    $22,900
    $155,900
    $178,800

    Comparable in this City

    • Value Estimation by Request
      3,537 SF

      921 Medical Ctr Dr

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      921 Medical Ctr Dr, Bessemer, AL 35022-6080
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    • Value Estimation
      $2,715,000
      8,478 SF

      4748 Bell Hl Rd

      MEDICAL BUILDING • 8,478 SF
      4748 Bell Hl Rd, Bessemer, AL 35022-6947
      View Details
    • Value Estimation
      $1,120,000
      6,691 SF

      4804 Bell Hl Rd

      MEDICAL BUILDING • 6,691 SF
      4804 Bell Hl Rd, Bessemer, AL 35022
      View Details
    • Value Estimation by Request
      14,026 SF

      925 Golf Crse Rd

      MEDICAL BUILDING • 14,026 SF
      925 Golf Crse Rd, Bessemer, AL 35022
      View Details
    • Value Estimation by Request
      7,031 SF

      1001 Golf Crse Rd

      MEDICAL BUILDING • 7,031 SF
      1001 Golf Crse Rd, Bessemer, AL 35022
      View Details
    • Value Estimation by Request
      5,144 SF

      740 Memorial Dr

      MEDICAL BUILDING • 5,144 SF
      740 Memorial Dr, Bessemer, AL 35022
      View Details

    Similar Nearby for Sale

    • $595,000
      6,500 SF

      Bessemer Medical Office Building

      Prime Medical Office, High ROI
      737 Memorial Dr, Bessemer, AL 35022
      View Details
    • $2,800,000
      10,093 SF

      Medical Office Building Investment Opportunity

      Fully leased medical office building with strong tenant mix.
      1088 9Th Ave SW, Bessemer, AL 35022
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    • $175,000
      0.47 Acres

      Bessemer Office For Sale

      Former dental office with ample parking and strong visibility.
      716 Memorial Dr, Bessemer, AL 35022
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    • $500,000
      1.60 Acres

      Bessemer Commercial Land Opportunity

      High-Visibility Commercial Lot, 1.6 Acres
      4334 Bell Hill Rd, Bessemer, AL 35022
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    • $399,900
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      Bessemer Commercial Land Opportunity

      High-potential commercial lot near Publix.
      1524 Valley Dr, Bessemer, AL 35022
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    • Contact for pricing
      1.00 Acre

      Lakeshore Parkway Business Land

      Bessemer, AL: Prime Industrial Land
      0 Lakeshore Pkwy, Birmingham, AL 35022
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    Similar Nearby for Lease

    • $20 SF/Yr
      99,771 SF

      Bessemer Medical Office Space For Lease

      Class A Medical Office Suites Available
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      View Details
    • $20 SF/Yr

      Medical Office Tower For Lease

      Five-story medical office tower with highway visibility and ample parking.
      975 9Th Ave Southwest, Bessemer, AL 35022
      View Details
    • Contact for pricing
      6,000 SF

      Bessemer Office Building - 1 Story

      6,000 SF Office Building, 1,500 SF Available
      6283 Park Dr, Bessemer, AL 35022
      View Details
    • $9 SF/Yr
      7,872 SF

      Office with Warehouse Space Available

      Office space with warehouse, convenient location, high-end finishes.
      5690 Pine Lane Cir, Bessemer, AL 35022
      View Details
    • Contact for pricing
      21,840 SF

      Bessemer Warehouse Space For Lease

      Prime Industrial Space, 1,950 SF Available
      2550 Five Star Pkwy, Bessemer, AL 35022
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    • Contact for pricing
      99,893 SF

      Bessemer Retail Center - 59 West

      High-traffic retail space available. Multiple suites, ample parking.
      59 Academy Dr & Interstate 59, Bessemer, AL 35022
      View Details
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    722 Memorial Dr
    Bessemer, AL 35022-6099
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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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