Fenced Flex Space With 5
For Sale
$275,000
1590 McCluney Street, Gadsden, AL 35903
Land, Gadsden, AL
Property Size2,600 SF
Lot Size3.10 Acres
Price / SF$105.77
Days on Market141
Property Features for 1590 McCluney Street
General Information
Property type
Commercial Sale
Property subtype
Other
Fencing
Fenced
Subdivision
Metes And Bounds
Lot features
Level
Elementary school
Glencoe Elementary
Middle school
Glencoe
High school
Glencoe
Directions
278, L On Goodyear Ave, R On Phillips Street, L On Mccluney
Standard status
Active
APN
1403070001069001
Lot size
3.10 Acres
Utilities
Sewer type
Septic Tank
Water source
Public
Listing Agency:
Impact Realty, LLC
(256) 459-4001
Listed By:
Katie McKenzie · License #105125
(256) 613-6516
Added: Apr 9
Changed: Aug 27
Last Checked: Aug 27 at 11:06AM
MLS# 21914673
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 flex space includes a 65-by-40-foot shop on 3.1 acres, configured with five garage bays. Overhead access consists of five 10-by-10-foot doors and one 14-by-14-foot door, supporting equipment, vehicle, and storage operations. The building has spray foam insulation and electricity, while a two-bedroom, one-bath living area is pre-plumbed within the shop.
Site improvements include a circle drive, parking pad, septic service, and power hookups. Public water is also available, and the property is fenced. The combination of substantial yard area, multiple bay doors, and an unfinished residential component provides a flexible format for commercial or live-work use.
Site improvements include a circle drive, parking pad, septic service, and power hookups. Public water is also available, and the property is fenced. The combination of substantial yard area, multiple bay doors, and an unfinished residential component provides a flexible format for commercial or live-work use.
Key Highlights
- 3.1‑acre fenced parcel with a 65‑by‑40‑foot shop
- Five‑bay garage with five 10‑by‑10‑foot doors and one 14‑by‑14‑foot door
- Pre‑plumbed two‑bedroom, one‑bath living 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
$21,410
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
7.79%
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%
$428,200
$428.2K
Cap Rate 7%
$305,857
$305.9K
Cap Rate 9%
$237,889
$237.9K
Market Conditions
NOI Build-Up for 2,600 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
$35.9K $13.80/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$32.9K $12.67/SF
− OpEx
−$11.5K −$4.43/SF
NOI
$21.4K $8.23/SF
Area
Etowah County, AL
Vacancy
8.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
35.00%
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%
$428,200
Cap Rate 7%
$305,857
Cap Rate 9%
$237,889
Alternative Uses
Best Use
Flex RnD
$305.9K
$267.6K – $356.8K
NOI $21,410 @ 7.0% cap · market cap 7.79%
Second Best
Mixed Use
$293.3K
$256.7K – $342.2K
NOI $20,534 @ 7.0% cap · market cap 7.47%
Theoretical Best
Specialty Retail
$425.1K
$372.0K – $496.0K
NOI $29,758 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Drive-in doors
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35903, AL
17,344
Population
8,338
Households
2.1
Avg Household Size
41
Median Age
16%
College-Educated
87%
High-School Grad
68.2 sq mi
ZIP Area
254
Density / Sq Mi
$50,063
Median Household Income
$35,361
Median Earnings
$823
Median Rent
$170,000
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?
Flex space - Fenced commercial shop with multiple overhead doors, utility connections, and a partially prepared live-work area.
Where is this flex space located?
The property is located at 1590 McCluney Street Gadsden, AL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 3.1‑acre fenced parcel with a 65‑by‑40‑foot shop; Five‑bay garage with five 10‑by‑10‑foot doors and one 14‑by‑14‑foot door; Pre‑plumbed two‑bedroom, one‑bath living area
