Flex Warehouse with Fenced
For Sale
$699,900
1705 Central Parkway, Decatur, AL 35601
COMMERCIAL - Decatur, AL
Property Size6,000 SF
Lot Size0.34 Acres
Price / SF$116.65
Days on Market41
Property Features for 1705 Central Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business, Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Directions
6th Ave Take 14th Ave West Then Right On Central Pkwy. Building/Business Will Be On The Left.
Standard status
Active
APN
03 09 30 4 001 011.001
Size
6,000 SF
Lot size
0.34 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Merithouse Realty
(256) 822-0010
Listed By:
Philip Wright · License #138422
(256) 565-2676
Added: Jul 17
Changed: Aug 17
Last Checked: Aug 26 at 9:06AM
MLS# 21923256
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 warehouse property includes a 6,000+/- square foot building measuring approximately 60' x 100', with paved parking and a secure fenced yard. The combination of indoor space and enclosed outdoor area supports a range of operational needs.
Located in Decatur, AL in Morgan County, the property sits on a 75' x 200' lot at 1705 Central Parkway. The paved parking provides convenient on-site vehicle access, while the fenced yard offers additional containment for materials or equipment.
The building and yard configuration make this an adaptable choice for tenants seeking space that can accommodate a mix of warehouse, light industrial, service, or related functions, subject to applicable use requirements.
Located in Decatur, AL in Morgan County, the property sits on a 75' x 200' lot at 1705 Central Parkway. The paved parking provides convenient on-site vehicle access, while the fenced yard offers additional containment for materials or equipment.
The building and yard configuration make this an adaptable choice for tenants seeking space that can accommodate a mix of warehouse, light industrial, service, or related functions, subject to applicable use requirements.
Key Highlights
- 6,000+/- SF commercial building (approx. 60' x 100')
- 75' x 200' lot with paved parking and a secure fenced yard
- Central air and electric heating
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
$36,047
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
5.15%
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%
$720,940
$720.9K
Cap Rate 7%
$514,957
$515.0K
Cap Rate 9%
$400,522
$400.5K
Market Conditions
NOI Build-Up for 6,000 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
$59.8K $9.96/SF
− Vacancy
−$4.3K −$0.72/SF
EGI
$55.5K $9.24/SF
− OpEx
−$19.4K −$3.24/SF
NOI
$36.0K $6.01/SF
Area
Morgan County, AL
Vacancy
7.20%
Lease Rate
$9.96 /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%
$720,940
Cap Rate 7%
$514,957
Cap Rate 9%
$400,522
Alternative Uses
Best Use
Flex RnD
$515.0K
$450.6K – $600.8K
NOI $36,047 @ 7.0% cap · market cap 5.15%
Second Best
Warehouse
$505.2K
$442.1K – $589.4K
NOI $35,364 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,379 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
766
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35601, AL
34,958
Population
15,168
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
77%
High-School Grad
26.5 sq mi
ZIP Area
1,319
Density / Sq Mi
$50,216
Median Household Income
$33,438
Median Earnings
$860
Median Rent
$148,100
Median Home Value
Market
Vacancy Rate% for Industrial 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 - Versatile flex warehouse with paved parking, secure fenced yard, and a 6,000+/- SF building on a 75' x 200' lot.
Where is this flex space located?
The property is located at 1705 Central Parkway Decatur, AL.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 6,000+/- SF commercial building (approx. 60' x 100'); 75' x 200' lot with paved parking and a secure fenced yard; Central air and electric heating
