2801 Memorial PkwyHuntsville, AL 35801

Property Details for 2801 Memorial Pkwy

Year built

2002

Lot size

26.55 AC

Property size (Sq ft)

420,944 SF

Property type

Super regional malls

APN

17-01-12-2-002-059.001

APU

1701122002059001

Description

This exceptional Class A commercial property, Parkway Place Mall, presents a unique investment opportunity in Huntsville, Alabama. Located at 2801 S Memorial Pkwy, this enclosed shopping center boasts a total of 647,808 square feet across three buildings, offering flexible spaces ranging from a minimum of 826 square feet to a maximum contiguous space of 25,000 square feet. The property features 88 total suites, ample parking with 2811 spaces, and convenient access via L and R Drive SW. Built in 1957 and extensively renovated in 2002, the two-story structure includes five elevators (traction and service for tenants) and all necessary power. The property sits on 34 acres of land in the Madison submarket of Madison County, zoned for commercial use. Key anchors include Belk and Dillard's, complemented by a diverse tenant mix of national, regional, and local brands such as Aerie, Zales Jewelers, Victoria's Secret, Chico's, Forever21, Build-A-Bear Workshop, Bath & Body Works, Torrid, and Hollister. This is an ideal location for businesses seeking high visibility and strong foot traffic in a thriving Huntsville community.

• CAP approach

  CAP return

  Valuation

  6%

  $102,851,000

  6.5%

  $94,939,100

  7%

  $88,157,800

• Comparable approach

  Method

  Valuation

  Relative Method

  $71,310,300

  Geo Method

  $85,393,700

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $186,232,000

  Mixed-Use / Specialty

  $94,159,500

  Hospitality / Lodging

  $68,507,500

  Office

  $93,140,600

  Institutional / Educational

  $97,730,300

  Residential Income

  $114,344,000

  Multifamily

  $139,584,000

  Automotive / Energy

  $83,768,800

  Parking / Income-Based Land

  $29,343,400

  Restaurant / Food Service

  $48,031,600

  Healthcare / Senior Housing

  $97,011,200

Location Insight

City

Huntsville

County

Madison

State

Alabama

Latitude

34.7073

Longitude

-86.5872

CBSA code

26620

CBSA name

HUNTSVILLE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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