Freestanding Medical Office
For Sale
$325,000
Pending
1621 Broad Street, Phenix City, AL 36867
SINGLE_FAMILY - Phenix City, AL
Property Size1,818 SF
Lot Size0.17 Acres
Days on Market44
Property Features for 1621 Broad Street
General Information
Property type
Residential
Property subtype
Office
Zoning
A-O
Rooms
Basement
Parking
10
Basement
Crawl Space
Lot features
Free Standing
Directions
South On Broad Street Property On Right
Subdivision
Alabama-01
Standard status
Pending
APN
570501113304062
Size
1,818 SF
Lot size
0.17 Acres
Utilities
Utilities
Water Available
Building Details
Year built
1900
Floors in Building
1
Number of units
1
Listing Agency:
Berkshire Hathaway HS First Magnolia Realty
(706) 221-5031
Listed By:
Cal Knecht · License #389218
(860) 933-7022
Added: Jul 1
Last Checked: Aug 13 at 12:06AM
MLS# 230639
Copyright © 2026 Columbus Board of Realtors (GA). 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.
1621 Broad Street is a freestanding professional/medical office building totaling 1,818 square feet on a 0.17-acre site. The property is presented as a versatile workspace suitable for professional and service-oriented uses, with zoning that supports a range of office options and potential live-work use scenarios.
The building is located along Broad Street, one of Phenix City’s main commercial thoroughfares. The site is described as having easy ingress and egress and visibility supported by high daily traffic counts. The property position is also presented as convenient to downtown Columbus and regional transportation routes.
For an owner-user, the layout and size are intended to fit a medical, legal, or financial services practice, as well as other boutique professional offices. For investors or developers, the A-O zoning provides flexibility for office uses and potential future mixed-use or multifamily redevelopment considerations, subject to required approvals.
The building is located along Broad Street, one of Phenix City’s main commercial thoroughfares. The site is described as having easy ingress and egress and visibility supported by high daily traffic counts. The property position is also presented as convenient to downtown Columbus and regional transportation routes.
For an owner-user, the layout and size are intended to fit a medical, legal, or financial services practice, as well as other boutique professional offices. For investors or developers, the A-O zoning provides flexibility for office uses and potential future mixed-use or multifamily redevelopment considerations, subject to required approvals.
Key Highlights
- High‑visibility location on Broad Street, a major commercial thoroughfare, with high daily traffic.
- Flexible A‑O zoning allows for a range of professional office, live‑work, or future redevelopment uses.
- Freestanding 1,818 sq ft building suitable for owner‑users, professional services, or investors.
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
$22,543
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
6.94%
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%
$450,860
$450.9K
Cap Rate 7%
$322,043
$322.0K
Cap Rate 9%
$250,478
$250.5K
Market Conditions
NOI Build-Up for 1,818 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
$36.4K $20.04/SF
− Vacancy
−$6.4K −$3.51/SF
EGI
$30.1K $16.53/SF
− OpEx
−$7.5K −$4.13/SF
NOI
$22.5K $12.40/SF
Area
Lee County, AL
Vacancy
17.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$450,860
Cap Rate 7%
$322,043
Cap Rate 9%
$250,478
Alternative Uses
Best Use
Office B
$322.0K
$281.8K – $375.7K
NOI $22,543 @ 7.0% cap · market cap 6.94%
Second Best
Healthcare Medical
$292.9K
$256.3K – $341.7K
NOI $20,502 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$443.4K
$388.0K – $517.3K
NOI $31,038 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,619
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36867, AL
22,505
Population
10,782
Households
2.1
Avg Household Size
37
Median Age
28%
College-Educated
90%
High-School Grad
12.6 sq mi
ZIP Area
1,786
Density / Sq Mi
$46,847
Median Household Income
$36,035
Median Earnings
$963
Median Rent
$188,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding professional/medical office building zoned A-O with direct access along Broad Street in Phenix City.
Where is this medical office space located?
The property is located at 1621 Broad Street Phenix City, AL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: High‑visibility location on Broad Street, a major commercial thoroughfare, with high daily traffic.; Flexible A‑O zoning allows for a range of professional office, live‑work, or future redevelopment uses.; Freestanding 1,818 sq ft building suitable for owner‑users, professional services, or investors.
