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

    8607 New Watermelon Rd Tuscaloosa, AL 35406-1062

    • Grocery and convenience stores
    • 936 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Apr 19, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1003920
    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

    • Grocery and convenience stores

    Property Details for 8607 New Watermelon Rd

    Year built
    1970
    Lot size
    0.34 lot acres
    Property size
    936 SF
    Zone code
    BN
    Property type
    Grocery and convenience stores
    APN
    21-04-20-1-001-002.000
    APU
    2104201001002000

    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
    Tuscaloosa
    County
    Tuscaloosa
    State
    Alabama
    Longitude
    -87.4962
    Latitude
    33.2976
    CBSA code
    46220
    CBSA name
    TUSCALOOSA, 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
    $143
    $1,560
    $3,180
    $4,740
    -
    $7,800
    $15,900
    $23,700

    Comparable in this City

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      2,374 SF

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      CONVENIENCE STORE • 2,374 SF
      1051 Mcfarland NE Blvd, Tuscaloosa, AL 35406-2363
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    • Value Estimation
      $1,470,000
      3,060 SF

      4551 Rice Mine NE Rd

      CONVENIENCE STORE • 3,060 SF
      4551 Rice Mine NE Rd, Tuscaloosa, AL 35406-3515
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    • Value Estimation by Request
      2,391 SF

      Watermelon Rd

      CONVENIENCE STORE • 2,391 SF
      Watermelon Rd, Tuscaloosa, AL 35406
      View Details
    • Value Estimation
      $565,000
      4,778 SF

      4814 Rice Mine NE Rd

      CONVENIENCE STORE • 4,778 SF
      4814 Rice Mine NE Rd, Tuscaloosa, AL 35406-2672
      View Details
    • Value Estimation by Request
      3,000 SF

      3625 Rice Mine NE Rd

      CONVENIENCE STORE • 3,000 SF
      3625 Rice Mine NE Rd, Tuscaloosa, AL 35406-1517
      View Details
    • Value Estimation by Request
      2,244 SF

      1050 Mcfarland NE Blvd

      CONVENIENCE STORE • 2,244 SF
      1050 Mcfarland NE Blvd, Tuscaloosa, AL 35406-2362
      View Details

    Similar Nearby for Sale

    • $2,390,000
      6,000 SF

      Tuscaloosa Dental Office For Sale

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    • $240,975
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      Waterfront Lot in Emeralds Edge

      1.3-acre lot with lake access and community amenities.
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    • $99,900
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      Tuscaloosa Homesite Opportunity

      2.49-acre homesite in booming North of the River zip code.
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    • $595,000
      1.61 Acres

      Lakefront Property on Lake Tuscaloosa

      1.61 acre lakefront lot, ideal for dream home.
      8345 Old Watermelon Rd, Tuscaloosa, AL 35406
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    • $650,000
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      Tuscaloosa Land Opportunity

      Two lots totaling 21+ acres for custom homes.
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      Lakefront Land in Tuscaloosa, AL

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    Similar Nearby for Lease

    • $3,800 /Mo
      6,500 SF

      Retail Space in North Ridge

      Retail space in North Ridge Shopping Center available for rent.
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    • $15 SF/Yr
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      Retail Space in NorthRidge Center

      8,400 SF retail space in high-traffic Tuscaloosa location.
      1825 N Mcfarland Blvd N, Tuscaloosa, AL 35406
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    • $4,432 /Mo
      1,200 SF

      Tuscaloosa Restaurant Space with Drive-Thru

      Newly built-out restaurant space with drive-thru available for sublease.
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    • $15 SF/Yr
      12,000 SF

      NorthRidge Center Retail Space

      12,000 SF retail space in high-traffic Tuscaloosa location.
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    • $20 SF/Yr
      60,000 SF

      Class A Office Space, North Tuscaloosa

      Premium Office Suites, North Tuscaloosa, AL
      1300 Mcfarland Blvd, Tuscaloosa, AL 35406
      View Details
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    8607 New Watermelon Rd
    Tuscaloosa, AL 35406-1062
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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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