Medical Office Building with
For Sale
$499,999
15330 Highway 231/431 N, Hazel Green, AL 35750
Business Opportunity, Hazel Green, AL
Property Size1,611 SF
Lot Size1.00 Acre
Price / SF$310.37
Days on Market46
Property Features for 15330 Highway 231/431 N
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Business, Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Subdivision
Metes And Bounds
Lot features
High Visibility
Directions
North On Hwy 231 For About 15 Miles , Office Building Is On Right Next To Kids Care Day Care Center.
Standard status
Active
APN
0309302001069.000
Size
1,611 SF
Lot size
1.00 Acre
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Flooring type
Concrete, Brick, Carpet
Roof type
Shingle
Listing Agency:
Linda Blue Real Estate, LLC
Listed By:
Linda Blue · License #111544
(256) 227-0417
Added: Jul 25
Changed: Sep 7
Last Checked: Sep 8 at 3:06PM
MLS# 21924817
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 1,611-square-foot medical office property occupies 1 acre and was built in 1985. The building includes three bathrooms, concrete, brick, and carpet flooring, along with central air conditioning and electric forced-air heating. A shingle roof completes the existing improvements.
The property fronts Highway 231/431 N in Hazel Green and provides direct highway access, road frontage, and on-site parking. Public water and a septic tank serve the site. The existing configuration is positioned for medical, dental, professional, wellness, or specialty office use.
The property fronts Highway 231/431 N in Hazel Green and provides direct highway access, road frontage, and on-site parking. Public water and a septic tank serve the site. The existing configuration is positioned for medical, dental, professional, wellness, or specialty office use.
Key Highlights
- 1,611‑square‑foot medical office building on 1 acre
- Located along Highway 231/431 N in Hazel Green
- Three bathrooms included in the existing layout
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
$20,879
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
4.18%
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%
$417,580
$417.6K
Cap Rate 7%
$298,271
$298.3K
Cap Rate 9%
$231,989
$232.0K
Market Conditions
NOI Build-Up for 1,611 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
$38.7K $24.00/SF
− Vacancy
−$3.9K −$2.40/SF
EGI
$34.8K $21.60/SF
− OpEx
−$13.9K −$8.64/SF
NOI
$20.9K $12.96/SF
Area
Madison County, AL
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$417,580
Cap Rate 7%
$298,271
Cap Rate 9%
$231,989
Alternative Uses
Best Use
Healthcare Medical
$298.3K
$261.0K – $348.0K
NOI $20,879 @ 7.0% cap · market cap 4.18%
Second Best
Office B
$294.0K
$257.3K – $343.0K
NOI $20,581 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$419.5K
$367.1K – $489.4K
NOI $29,365 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35750, AL
14,192
Population
5,698
Households
2.5
Avg Household Size
40
Median Age
29%
College-Educated
87%
High-School Grad
61.1 sq mi
ZIP Area
232
Density / Sq Mi
$78,622
Median Household Income
$44,575
Median Earnings
$1,079
Median Rent
$186,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - One-acre commercial site with highway access, multiple bathrooms, and adaptable space for office operations.
Where is this medical office space located?
The property is located at 15330 Highway 231/431 N Hazel Green, AL.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: 1,611‑square‑foot medical office building on 1 acre; Located along Highway 231/431 N in Hazel Green; Three bathrooms included in the existing layout
