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    Property profile & analytics

    977 Explorer Blvd NW Huntsville, AL 35806

    • Office buildings
    • 40,812 SF
    • 5.16 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0793736
    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

    • Office buildings

    Property Details for 977 Explorer Blvd NW

    Year built
    1992
    Lot size
    5.16 lot acres
    Property size
    40,812 SF
    Property type
    Office buildings
    APN
    15-07-36-0-000-017.000
    APU
    1507360000017000

    Description

    This exceptional 40,000 square foot Class C office building presents a unique opportunity in Huntsville's prestigious Cummings Research Park. Situated at 977 Explorer Blvd NW, this property boasts a prime location near the intersection of Explorer Boulevard and Enterprise Way. Built in 1991, the building sits on a generous 5.6-acre lot, providing ample space and potential for expansion or future development. The property is zoned CRPW, allowing for a variety of commercial uses. The building offers 175 parking spaces, ensuring convenient access for employees and clients. The lease type is modified, offering flexibility for potential tenants. This substantial space is ideal for a single corporate headquarters seeking a prominent location or for multiple tenants looking for a well-maintained and spacious office environment within a thriving research park. The building's size and location make it an attractive option for businesses seeking a significant presence in Huntsville's dynamic commercial landscape. The property's ample parking and convenient location within Cummings Research Park offer easy access to major roadways and amenities. This is a rare opportunity to secure a substantial office space in a highly sought-after location. The property's flexible lease terms provide an adaptable solution for a variety of business needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,036,000
      Market price range: $3.75M - $10.8M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $6,495,000
      Current use
      RETAIL STORES
      $6,275,000
      Change: -3% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $6,045,000
      Change: -7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntsville
    County
    Madison
    State
    Alabama
    Longitude
    -86.6812
    Latitude
    34.732
    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
    $45,217
    $56,760
    $722,840
    $779,600
    -
    $283,800
    $3,614,200
    $3,898,000

    Comparable in this City

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    • Value Estimation
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    • Value Estimation
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      36,746 SF

      650 Discovery NW Dr

      OFFICE BUILDING • 36,746 SF
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    • Value Estimation by Request
      1,170 SF

      702 Blake Btm NW Rd

      OFFICE BUILDING • 1,170 SF
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    • Value Estimation
      $860,000
      7,488 SF

      1101 Mcmurtrie Dr Nwa

      OFFICE BUILDING • 7,488 SF
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      View Details

    Similar Nearby for Sale

    • 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
      View Details
    • $5,000,000
      35,000 SF

      Huntsville Office Building with Lab

      Professional office building with lab space in Cummings Research Park.
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    • Contact for pricing

      Cummings Research Park Headquarters Facility

      Move-in ready Class A corporate environment in Huntsville's innovation corridor.
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      78,053 SF

      Prominent Office Building in Huntsville

      Visible office building in Cummings Research Park with excellent accessibility.
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      101,026 SF

      Huntsville Office Space - 101,026 SF

      Class A Office Space, Huntsville, AL. Prime location.
      1500 Perimeter Pkwy, Huntsville, AL 35806
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    • $3,750,000

      Unique Building in West Huntsville

      Versatile 23,700 SF building suitable for diverse uses.
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    Similar Nearby for Lease

    • $3,980,000

      High-Visibility Retail/Office Building on Highway

      Two-story building with high traffic exposure, suitable for retail/office.
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      25,192 SF

      Huntsville Executive Office Space

      Prime Office Building, Ample Parking, 10,968 SF Available
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    • $22 SF/Yr
      102,000 SF

      Bradford Office Park: Huntsville, AL

      Prime Huntsville Office Space: Flexible Suites Available
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    • Contact for pricing
      151,565 SF

      Huntsville Office Space: 151,565 SF

      Prime Huntsville office building, multiple tenancy options.
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      View Details
    • $18 SF/Yr
      25,000 SF

      Huntsville Executive Office Space

      25,000 SF Office Building For Lease
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    • Contact for pricing
      102,000 SF

      Huntsville Executive Office Campus

      Class A Office Space, 42,000-60,000 SF Available
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      View Details
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    977 Explorer Blvd NW
    Huntsville, AL 35806
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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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