3201 Governors DrHuntsville, AL 35805

Property Details for 3201 Governors Dr

Year built

1966

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.50 AC

Property size (Sq ft)

2,565 SF

Property type

Office buildings

APN

17-02-03-4-001-001.000

APU

1702034001001000

Description

This exceptional Huntsville, Alabama property at 3201 Governors Drive presents a rare opportunity for commercial development. The 2-story building, situated on a prime corner lot in Madison County (zip code 35805), offers 20 parking spaces and is zoned for commercial use. The existing structure provides a solid foundation for a variety of businesses, or the land could be redeveloped entirely. The location is ideal, boasting easy access to major highways, downtown Huntsville, and a nearby hospital, ensuring high visibility and convenient access for customers and employees. This thriving area is experiencing significant redevelopment, with new apartments, restaurants, and plazas already established, creating a vibrant and growing community. The property's expansive size and strategic location make it an exceptional investment for entrepreneurs seeking to establish a successful business in a high-demand area. The existing building provides immediate occupancy potential, while the land offers significant flexibility for future expansion or redevelopment. This is a truly unique opportunity to capitalize on the growth and potential of this dynamic Huntsville location. Don't miss this chance to secure a prime piece of commercial real estate in a rapidly developing area.

• CAP approach

  CAP return

  Valuation

  6%

  $542,509

  6.5%

  $500,777

  7%

  $465,007

• Comparable approach

  Method

  Valuation

  Relative Method

  $417,813

  Geo Method

  $500,329

• Alternative Use

  Use

  Valuation

  Residential

  $620,964

  Hospitality

  $568,800

  Educational

  $473,234

  Medical

  $489,510

  Retail

  $736,143

Location Insight

City

Huntsville

County

Madison

State

Alabama

Latitude

34.7197

Longitude

-86.6093

CBSA code

26620

CBSA name

HUNTSVILLE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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