8883 Madison BlvdMadison, AL 35758

Property Details for 8883 Madison Blvd

Year built

1981

Lot size

0.52 AC

Property size (Sq ft)

6,180 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

16-05-21-0-000-053.000

APU

1605210000053000

Description

Madison Plaza offers a prime retail, office, and restaurant opportunity in a rapidly growing area of Huntsville/Madison, Madison County. This single-story, 6,000 square foot building, renovated in 2023, boasts a highly visible location at the intersection of Madison Boulevard and Wall Triana Highway, experiencing approximately 45,000 vehicles daily. The property features ample surface parking with 45 spaces, catering to both tenants and customers. The building is zoned for retail use and comprises four suites, with a minimum divisible space of 1,800 square feet and a maximum contiguous space of 6,000 square feet; the entire 6,000 square feet is currently vacant. Built in 2001 on 0.8 acres, this property benefits from its proximity to approximately 5,000 new multi-family units within a three-mile radius, ensuring a strong customer base. The property is ideal for a variety of uses, including traditional office, medical office, and retail businesses seeking high visibility and convenient access. This is a rare opportunity to secure a significant presence in a thriving commercial corridor.

• CAP approach

  CAP return

  Valuation

  6%

  $1,921,432

  6.5%

  $1,773,630

  7%

  $1,646,942

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,536,783

  Geo Method

  $3,037,786

• Alternative Use

  Use

  Valuation

  Residential

  $1,496,123

  Hospitality

  $1,370,441

  Educational

  $1,140,191

  Medical

  $1,179,404

  Retail

  $1,773,630

Location Insight

City

Madison

County

Madison

State

Alabama

Latitude

34.6765

Longitude

-86.7501

CBSA code

26620

CBSA name

HUNTSVILLE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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