Automotive Shop with Hydraulic
For Sale
$499,000
1005 Gault Avenue N, Fort Payne, AL 35967
Business Opportunity, Fort Payne, AL
Property Size13,000 SF
Lot Size0.48 Acres
Price / SF$38.38
Days on Market41
Property Features for 1005 Gault Avenue N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business, Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Parking Lot
Exterior features
Sidewalks
Subdivision
City Addition
Lot features
High Visibility
Directions
Heading North On Hwy 11, Building Will Be On Your Right
Standard status
Active
APN
2303081003.061.000
Size
13,000 SF
Lot size
0.48 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
garage doors
office spaces
half bath
hydraulic lifts
oil waste heater
Building Details
Floors in Building
1
Flooring type
Concrete
Listing Agency:
Ole Heritage Realty, Inc.
(256) 997-0008
Listed By:
Jennifer Ledford · License #160775
(256) 899-5068
Added: Jul 25
Changed: Aug 19
Last Checked: Sep 3 at 2:06PM
MLS# 21924803
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 13,000-square-foot automotive facility occupies 0.48 acres along Hwy 11 in Fort Payne. The building has four garage doors, three office spaces, a half bath, and a concrete floor. Three hydraulic lifts and an oil waste heater are included, while the existing layout also provides flexibility for an office or kitchen area. The property is currently used as a private garage.
A parking lot and sidewalks serve the site, with public water and public sewer available. The building’s automotive-oriented improvements and multiple service bays support its present garage use while accommodating other flexible business configurations described for the property.
A parking lot and sidewalks serve the site, with public water and public sewer available. The building’s automotive-oriented improvements and multiple service bays support its present garage use while accommodating other flexible business configurations described for the property.
Key Highlights
- 13,000‑square‑foot automotive facility on 0.48 acres along Hwy 11
- Four garage doors and three hydraulic lifts
- Three office spaces, a half bath, and potential kitchen area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,341
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$866,820
$866.8K
Cap Rate 7%
$619,157
$619.2K
Cap Rate 9%
$481,567
$481.6K
Market Conditions
NOI Build-Up for 13,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$65.5K $5.04/SF
− Vacancy
−$3.6K −$0.28/SF
EGI
$61.9K $4.76/SF
− OpEx
−$18.6K −$1.43/SF
NOI
$43.3K $3.33/SF
Area
DeKalb County, AL
Vacancy
5.50%
Lease Rate
$5.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$866,820
Cap Rate 7%
$619,157
Cap Rate 9%
$481,567
Alternative Uses
Best Use
Flex RnD
$1.56M
$1.36M – $1.82M
NOI $108,910 @ 7.0% cap · market cap 21.83%
Second Best
Retail
$1.12M
$982.8K – $1.31M
NOI $78,624 @ 7.0% cap · market cap 15.76%
Theoretical Best
Healthcare Medical
$2.09M
$1.83M – $2.44M
NOI $146,601 @ 7.0% cap · market cap 29.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35967, AL
17,233
Population
7,825
Households
2.2
Avg Household Size
37
Median Age
16%
College-Educated
81%
High-School Grad
127.0 sq mi
ZIP Area
136
Density / Sq Mi
$48,125
Median Household Income
$32,051
Median Earnings
$678
Median Rent
$155,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kilgo's Mechanics — 218 Godfrey Ave NE, Fort Payne, AL 35967
- Ervin's Garage — 700 gault ave n, fort payne, al 35967
- Dekalb Auto Repair — 712 Gault Ave N, Fort Payne, AL 35967
- J&D Transmission and Auto Repair — 708 Gault Ave N, Fort Payne, AL 35967
- GreenRiver Automotive — 1413 Gault Ave N, Fort Payne, AL 35967
Frequently Asked Questions
What type of property is this?
Auto shop - Concrete-floor facility with service equipment, office areas, parking, and public water and sewer service.
Where is this auto shop located?
The property is located at 1005 Gault Avenue N Fort Payne, AL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 13,000‑square‑foot automotive facility on 0.48 acres along Hwy 11; Four garage doors and three hydraulic lifts; Three office spaces, a half bath, and potential kitchen area
