Flex Space with
For Sale
$4,995,000
1801 64th Avenue, Northport, AL 35476
CommercialSale, Northport, AL
Property Size21,888 SF
Lot Size2.56 Acres
Price / SF$228.21
Days on Market50
Property Features for 1801 64th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Security features
Security
Directions
Corner of Airport Rd and Robert Cardinal Airport Rd
Subdivision
(06) Northport City
Standard status
Active
APN
3104181001001.000
Size
21,888 SF
Lot size
2.56 Acres
Taxes and HOA fees
Tax Description
Lot 17 Of 1871 S/D Ph 2
Tax Annual Amount
24594
Legal Description
Lot 17 Of 1871 S/D Ph 2
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air
Amenities
conference room
breakroom
Building Details
Year built
2020
Number of units
1
Flooring type
Concrete
Building materials
Block, MetalSiding
Roof type
Metal
Architectural style
Other
Listing Agency:
Pritchett Moore Real Estate
(205) 349-6500
Listed By:
Steven Deal · License #000093505
(205) 292-9771
Added: Jul 15
Changed: Sep 2
Last Checked: Sep 2 at 4:06AM
MLS# 176355
Copyright © 2026 West Alabama Multiple Listing Service. 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.
Built in 2020, this 21,888-square-foot flex property combines 6,787 square feet of office space with 15,100 square feet of warehouse space. The office component includes a showroom, customer service area, six private offices, conference room, breakroom, file room, ADA-compliant multi-stall restrooms, and approximately 1,100 square feet of unfinished expansion area. Warehouse features include 20-foot eave heights and three 12-foot by 10-foot roll-up doors. Construction includes block and metal siding, with concrete flooring, central heating, natural gas, central air, and a metal roof.
The 2.56-acre site provides 28 front parking spaces and a nearly 1-acre paved yard and parking area. The property is minutes from I-20/59 and less than 1,000 feet from US-82, which carries 30,000 VPD. Surrounding retailers and restaurants include Chick-fil-A, Lowe's, ALDI, Big Mike's Steakhouse, and Jack's.
The 2.56-acre site provides 28 front parking spaces and a nearly 1-acre paved yard and parking area. The property is minutes from I-20/59 and less than 1,000 feet from US-82, which carries 30,000 VPD. Surrounding retailers and restaurants include Chick-fil-A, Lowe's, ALDI, Big Mike's Steakhouse, and Jack's.
Key Highlights
- 21,888 SF flex property with 6,787 SF of office space and 15,100 SF of warehouse space
- Warehouse includes 20' eave heights and three 12' x 10' roll‑up doors
- Office layout features six private offices, showroom, customer service area, conference room, and breakroom
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
$253,529
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
5.08%
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%
$5,070,580
$5.1M
Cap Rate 7%
$3,621,843
$3.6M
Cap Rate 9%
$2,816,989
$2.8M
Market Conditions
NOI Build-Up for 21,888 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
$433.4K $19.80/SF
− Vacancy
−$95.3K −$4.36/SF
EGI
$338.0K $15.44/SF
− OpEx
−$84.5K −$3.86/SF
NOI
$253.5K $11.58/SF
Area
Tuscaloosa County, AL
Vacancy
22.00%
Lease Rate
$19.80 /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%
$5,070,580
Cap Rate 7%
$3,621,843
Cap Rate 9%
$2,816,989
Alternative Uses
Best Use
Office B
$3.62M
$3.17M – $4.23M
NOI $253,529 @ 7.0% cap · market cap 5.08%
Second Best
Flex RnD
$2.42M
$2.12M – $2.82M
NOI $169,403 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$5.26M
$4.60M – $6.14M
NOI $368,191 @ 7.0% cap · market cap 7.37%
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
177
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35476, AL
8,697
Population
3,597
Households
2.4
Avg Household Size
36
Median Age
23%
College-Educated
86%
High-School Grad
6.9 sq mi
ZIP Area
1,260
Density / Sq Mi
$59,545
Median Household Income
$37,304
Median Earnings
$940
Median Rent
$196,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Office and industrial improvements occupy a paved site with dedicated parking and yard area.
Where is this flex space located?
The property is located at 1801 64th Avenue Northport, AL.
What is the asking price?
The asking price for this property is $4,995,000.
What are key features of this property?
This property features: 21,888 SF flex property with 6,787 SF of office space and 15,100 SF of warehouse space; Warehouse includes 20' eave heights and three 12' x 10' roll‑up doors; Office layout features six private offices, showroom, customer service area, conference room, and breakroom
