233 Stokes StHuntsville, AL 35805

Property Details for 233 Stokes St

Year built

1962

Construction

MIXED

Lot size

1.23 AC

Property size (Sq ft)

13,786 SF

Property type

Retail properties

APN

17-01-02-2-001-082.000

APU

1701022001082000

Description

This exceptional value-add investment opportunity presents a fully leased, 33,300 square foot industrial portfolio situated on a 2.38-acre lot at 233 Stokes St NW, Huntsville, AL 35805. The property comprises three buildings housing seventeen individual units, each averaging 1,800 square feet and boasting a blend of office and warehouse space. Each unit includes desirable features such as roll-up doors, air conditioning, and private bathrooms. Currently operating at 100% occupancy with month-to-month leases, this asset offers significant upside potential. Rents are substantially below market average (68% below), presenting a compelling opportunity for immediate and long-term income growth. The strategic location in downtown Huntsville, between the city center and Stovehouse, benefits from excellent access to major arteries I-565 and Highway 231, ensuring convenient connectivity for tenants. This property is ideally positioned to capitalize on Huntsville's robust growth, experiencing a remarkable 27% population increase over the past decade. The asking price is $3,500,000, translating to $105.11 per square foot and $205,882.35 per unit. This represents a rare chance to acquire a high-performing, multi-tenant industrial property with substantial value-add potential in a thriving market. The flexible lease terms allow for swift adaptation to market conditions, maximizing returns for the astute investor.

• CAP approach

  CAP return

  Valuation

  6%

  $4,286,224

  6.5%

  $3,956,515

  7%

  $3,673,907

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,658,915

  Geo Method

  $6,776,525

• Alternative Use

  Use

  Valuation

  Residential

  $3,337,468

  Hospitality

  $3,057,103

  Educational

  $2,543,474

  Medical

  $2,630,948

  Retail

  $3,956,515

Location Insight

City

Huntsville

County

Madison

State

Alabama

Latitude

34.7244

Longitude

-86.6049

CBSA code

26620

CBSA name

HUNTSVILLE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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