2803 Governors DrHuntsville, AL 35805

Property Details for 2803 Governors Dr

Year built

1983

Lot size

0.15 AC

Property size (Sq ft)

2,250 SF

Property type

Retail properties

Property subtype

Other retail properties

APN

17-01-02-3-001-018.000

APU

1701023001018000

Description

This exceptional property at 2803 Governors Dr SW, Huntsville, AL 35805 offers two versatile spaces ideal for retail or traditional office use. Located in Madison County, this multi-tenant building boasts high visibility and excellent traffic counts, averaging 26,909 vehicles per day in 2022. Suite 1 encompasses 2,628 square feet, while Suite 2 provides 1,832 square feet, both available for occupancy starting July 1st. The rental rate is $22 per square foot, gross. Landlord responsibilities include roof and structural maintenance, dumpster service, property taxes and insurance, and water. A unique benefit includes 15 minutes of hourly advertising time on the property's electronic billboard. Tenant build-out options are available to customize the space to meet specific business needs. This property presents a fantastic opportunity for businesses seeking a prominent location with strong visibility and attractive landlord-provided amenities in a thriving Huntsville market. The property is conveniently located in Huntsville, Alabama, offering easy access to major transportation routes and a diverse customer base.

• CAP approach

  CAP return

  Valuation

  6%

  $699,551

  6.5%

  $645,739

  7%

  $599,615

• Comparable approach

  Method

  Valuation

  Relative Method

  $923,586

  Geo Method

  $1,105,990

• Alternative Use

  Use

  Valuation

  Residential

  $544,705

  Hospitality

  $498,947

  Educational

  $415,118

  Medical

  $429,395

  Retail

  $645,739

Location Insight

City

Huntsville

County

Madison

State

Alabama

Latitude

34.7196

Longitude

-86.6032

CBSA code

26620

CBSA name

HUNTSVILLE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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