Corner Retail
For Sale
$180,000
1521 Lee Road 379, Smiths Station, AL 36877
CommercialSale, Smiths Station, AL
Property Size1,524 SF
Lot Size0.55 Acres
Price / SF$118.11
Days on Market123
Property Features for 1521 Lee Road 379
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC
Parking
8
Parking features
Parking Lot, Covered
Window features
Wood Frames
Lot features
Corner Lot, Level
Directions
From Columbus: US-280 W/US-431 N toward Opelika, Turn Right onto Lee Road 0379, Property will be on Left (aprx 1.4 miles) at first intersection with blinking light.
Standard status
Active
Size
1,524 SF
Lot size
0.55 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
406
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
Kitchen
2 Half Baths
shed for storage
Building Details
Year built
1950
Floors in Building
1
Flooring type
Concrete
Building materials
Brick
Roof type
Built-Up
Additional Structures
Storage
Listing Agency:
Century 21 Premier Real Estate · Century 21 Real Estate
(706) 576-2400
Listed By:
Angelica Rozwadowski · License #160354
(706) 604-9887
Added: May 19
Changed: Aug 19
Last Checked: Sep 18 at 12:06AM
MLS# E103896
Copyright © 2026 East Alabama Board of REALTORS®. 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 1,524-square-foot brick retail property occupies a 0.55-acre corner parcel and includes a kitchen, 2 half baths, 8 parking spaces, and a storage shed. Concrete flooring, central heating and cooling, a built-up roof, public water, and septic service are in place. The property was built in 1950 and is offered in its current condition.
Located at 1521 Lee Road 379 in Smiths Station, the site sits at the junction of Lee Road 379 and Lee Road 249. A convenience store and gas station are positioned across the street, while the flea market near US-280 is just over a mile away. GC zoning and the existing configuration support consideration for retail, office, restaurant, or service-oriented use, subject to applicable requirements.
Located at 1521 Lee Road 379 in Smiths Station, the site sits at the junction of Lee Road 379 and Lee Road 249. A convenience store and gas station are positioned across the street, while the flea market near US-280 is just over a mile away. GC zoning and the existing configuration support consideration for retail, office, restaurant, or service-oriented use, subject to applicable requirements.
Key Highlights
- 0.55‑acre corner parcel at Lee Road 379 and Lee Road 249
- 1,524 square feet with kitchen, 2 Half Baths, and storage shed
- 8 parking spaces with covered parking available
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
$14,354
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
7.97%
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%
$287,080
$287.1K
Cap Rate 7%
$205,057
$205.1K
Cap Rate 9%
$159,489
$159.5K
Market Conditions
NOI Build-Up for 1,524 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
$22.9K $15.00/SF
− Vacancy
−$2.4K −$1.55/SF
EGI
$20.5K $13.46/SF
− OpEx
−$6.2K −$4.04/SF
NOI
$14.4K $9.42/SF
Area
Lee County, AL
Vacancy
10.30%
Lease Rate
$15.00 /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%
$287,080
Cap Rate 7%
$205,057
Cap Rate 9%
$159,489
Alternative Uses
Best Use
Retail
$205.1K
$179.4K – $239.2K
NOI $14,354 @ 7.0% cap · market cap 7.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$371.7K
$325.2K – $433.7K
NOI $26,019 @ 7.0% cap · market cap 14.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 36877, AL
12,461
Population
4,929
Households
2.5
Avg Household Size
39
Median Age
25%
College-Educated
86%
High-School Grad
39.1 sq mi
ZIP Area
319
Density / Sq Mi
$68,555
Median Household Income
$43,493
Median Earnings
$1,072
Median Rent
$195,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Brick commercial property with kitchen, two half baths, covered parking, and GC zoning.
Where is this retail space located?
The property is located at 1521 Lee Road 379 Smiths Station, AL.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 0.55‑acre corner parcel at Lee Road 379 and Lee Road 249; 1,524 square feet with kitchen, 2 Half Baths, and storage shed; 8 parking spaces with covered parking available
