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

    97 Hughes Rd Madison, AL 35758

    • Strip malls
    • 31,344 SF
    • 3.67 lot acres
    For Lease
    View listing
    Value Estimations
    $965,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0696408
    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

    • Pediatric Therapy Link of North Alabama, LLC / Occupational Therapist
    • Melissa M. Yarbrough, OTR / Occupational Therapist / Physical Therapist
    • Congo Joseph B / Physical Therapist
    • Walters Tammy / Physical Therapist
    • Church of Christ / Church Of Christ

    Property Details for 97 Hughes Rd

    Year built
    2005
    Lot size
    3.67 lot acres
    Property size
    31,344 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    16-05-16-0-001-001.006
    APU
    1605160001001006

    Description

    Madison Market, located at 97 Hughes Rd in Madison, Alabama (zip code 35758), offers exceptional retail opportunities in a thriving community. This multiple-tenancy retail center boasts excellent visibility and accessibility, situated directly off a major thoroughfare in Madison County. Two spaces are currently available, ranging in size from 950 square feet to 9,200 square feet, providing flexibility for various retail concepts. The center enjoys a strong tenant mix, including established businesses such as hair and nail salons, a pediatric medical practice, a daycare center, and a gift shop, creating a vibrant and diverse retail environment. Its convenient location near historic Downtown Madison offers easy access to a substantial customer base. Furthermore, the property's proximity to the Town Madison development and Toyota Field provides additional exposure to a large population of residents and visitors. This prime retail location presents a unique opportunity for businesses seeking high visibility and a strong customer base in a rapidly growing area of Alabama. The property's strategic placement ensures significant foot traffic and convenient access for customers. The existing tenant mix provides a synergistic environment, attracting a diverse range of shoppers. This is an ideal location for businesses looking to establish a strong presence in a thriving community with excellent growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $825,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,105,000
      Market price range: $573k - $2.39M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,215,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Madison
    State
    Alabama
    Longitude
    -86.7403
    Latitude
    34.6986
    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
    $32,399
    $130,760
    $330,100
    $460,860
    -
    $653,800
    $1,650,500
    $2,304,300

    Comparable in this City

    • Value Estimation
      $5,010,000
      21,664 SF

      8331 Madison Blvd

      SHOPPING CENTER, STRIP CENTER • 21,664 SF
      8331 Madison Blvd, Madison, AL 35758-2070
      View Details
    • Value Estimation
      $1,085,000
      71,550 SF

      7950 Hwy 72nd W

      SHOPPING CENTER, STRIP CENTER • 71,550 SF
      7950 Hwy 72nd W, Madison, AL 35758-6416
      View Details
    • Value Estimation
      $560,000
      11,193 SF

      7985 Hwy 72nd W

      SHOPPING CENTER, STRIP CENTER • 11,193 SF
      7985 Hwy 72nd W, Madison, AL 35758-9522
      View Details
    • Value Estimation
      $1,030,000
      51,336 SF

      9076 Madison Blvd

      SHOPPING CENTER, STRIP CENTER • 51,336 SF
      9076 Madison Blvd, Madison, AL 35758-1765
      View Details
    • Value Estimation
      $360,000
      3,856 SF

      23 Shelton Rd

      SHOPPING CENTER, STRIP CENTER • 3,856 SF
      23 Shelton Rd, Madison, AL 35758-2989
      View Details
    • Value Estimation
      $545,000
      10,000 SF

      10971 County Line Rd

      SHOPPING CENTER, STRIP CENTER • 10,000 SF
      10971 County Line Rd, Madison, AL 35758-3663
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16,039 SF

      Madison Retail Center For Sale

      16,039 SF multi-tenant retail center in Madison, Alabama.
      8498 Madison Blvd, Madison, AL 35758
      View Details
    • Contact for pricing

      Freestanding Building on Highway 72

      3,865 SF freestanding building with double lane drive-thru.
      7885 Highway 72, Madison, AL 35758
      View Details
    • $859,000
      2.05 Acres

      Commercial Property in Madison, Alabama

      Commercial property in Madison, Alabama, suitable for various businesses.
      401 Slaughter Rd, Madison, AL 35758
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      Madison Retail Redevelopment Opportunity

      High-visibility storefront, prime Madison location.
      7425 Highway 72, Madison, AL 35758
      View Details
    • Contact for pricing
      3,667 SF

      Madison Blvd Retail/Office Opportunity

      High-traffic location, 3,667 SF, Alabama.
      8926 Madison Blvd, Madison, AL 35758
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    • Contact for pricing
      4,959 SF

      Restaurant Property Near Redstone Arsenal

      Restaurant property near Redstone Arsenal and Cummings Research Park.
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    Similar Nearby for Lease

    • Contact for pricing
      89,906 SF

      Madison Boulevard Retail Opportunity

      Retail space with high visibility and easy highway access.
      8760 Madison Blvd, Madison, AL 35758
      View Details
    • Contact for pricing
      89,906 SF

      Madison Blvd Retail Space Available

      Retail suites available in high-traffic Madison, Alabama location.
      8760 Madison Blvd, Madison, AL 35758
      View Details
    • $30 SF/Yr
      34,000 SF

      Prime Retail Space in Madison

      Retail spaces available in a high-traffic, growing area.
      105 Brookridge Dr, Madison, AL 35758
      View Details
    • Contact for pricing
      10,150 SF

      Madison Market Retail Spaces

      High-traffic retail spaces in Madison, AL
      97 Hughes Rd, Madison, AL 35758
      View Details
    • Contact for pricing

      Madison Retail Space For Lease

      Retail space with pickup window, potential for drive-thru conversion.
      8830 Madison Blvd, Madison, AL 35758
      View Details
    • $17 SF/Yr

      Retail/Office Space in Madison

      Well-maintained retail center with high visibility and ample parking.
      3810 Sullivan St, Madison, AL 35758
      View Details
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    97 Hughes Rd
    Madison, AL 35758
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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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