Quadplex with New
For Sale
$385,000
1502 Medland Road, Huntsville, AL 35816
MULTI_FAMILY - Huntsville, AL
Property Size4,074 SF
Lot Size0.33 Acres
Price / SF$94.50
Days on Market45
Property Features for 1502 Medland Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Parking Lot
Appliances
Oven, Refrigerator, Dishwasher, W/D Hookup, Electric Water Heater
Subdivision
Executive Hills
Elementary school
Highland Elementary
Middle school
Mcnair
High school
Jemison
Directions
N On Sparkman Dr., Right Onto Bonnell Dr., Right Onto Medland Rd., Building Is On The Left
Standard status
Active
APN
1408283003046.000
Size
4,074 SF
Lot size
0.33 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
upscale cabinetry
large patio area or balcony
installed microwaves
Building Details
Year built
1984
Number of units
4
Listing Agency:
Gateway Al Realty Group LLC
(256) 509-2078
Listed By:
Len Johnson · License #40398
(256) 429-9360
Added: Jul 22
Changed: Aug 10
Last Checked: Sep 4 at 6:06AM
MLS# 21924427
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.
Built in 1984, this quadplex contains 4,074 square feet on a 0.3271-acre lot. The property includes four residential units with central heating and cooling, public water, public sewer, and a dedicated parking lot. Unit features include patios and/or balconies, microwaves, and select appliances such as ovens, refrigerators, dishwashers, and electric water heaters. Washer and dryer hookups are also available.
A roof replacement was completed in 2024, while some appliances and water heaters were replaced in 2025 and 2026. The property is situated near Huntsville’s Research Park district, the University of Alabama college campus, and Redstone Arsenal. The offering may also be packaged with up to 30 units, as stated in the property information.
A roof replacement was completed in 2024, while some appliances and water heaters were replaced in 2025 and 2026. The property is situated near Huntsville’s Research Park district, the University of Alabama college campus, and Redstone Arsenal. The offering may also be packaged with up to 30 units, as stated in the property information.
Key Highlights
- 4,074 SF quadplex on a 0.3271‑acre lot
- New roof installed in 2024
- Built in 1984 with four residential units
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
$29,720
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
7.72%
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%
$594,400
$594.4K
Cap Rate 7%
$424,571
$424.6K
Cap Rate 9%
$330,222
$330.2K
Market Conditions
NOI Build-Up for 4,074 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
$51.3K $12.60/SF
− Vacancy
−$8.9K −$2.18/SF
EGI
$42.5K $10.42/SF
− OpEx
−$12.7K −$3.13/SF
NOI
$29.7K $7.30/SF
Area
Huntsville, AL
Vacancy
17.29%
Lease Rate
$12.60 /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%
$594,400
Cap Rate 7%
$424,571
Cap Rate 9%
$330,222
Alternative Uses
Best Use
Multifamily LT 5
$424.6K
$371.5K – $495.3K
NOI $29,720 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$367.6K
$321.7K – $428.9K
NOI $25,734 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$1.06M
$928.3K – $1.24M
NOI $74,261 @ 7.0% cap · market cap 19.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
Explore this area
Business Placement
Demographics for 35816, AL
15,035
Population
7,972
Households
1.9
Avg Household Size
28
Median Age
27%
College-Educated
88%
High-School Grad
5.1 sq mi
ZIP Area
2,948
Density / Sq Mi
$38,947
Median Household Income
$28,060
Median Earnings
$875
Median Rent
$114,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential income property with central HVAC, public utilities, and on-site parking.
Where is this quadplex located?
The property is located at 1502 Medland Road Huntsville, AL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 4,074 SF quadplex on a 0.3271‑acre lot; New roof installed in 2024; Built in 1984 with four residential units
