Cullman Commercial Land
For Sale
$225,000
207 Richard Ave NE, Cullman, AL 35055
COMMERCIAL - Cullman, AL
Property Size1,248 SF
Lot Size1.90 Acres
Price / SF$180.29
Days on Market113
Property Features for 207 Richard Ave NE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school
East Elementary
Middle school
Cullman Middle
High school
Cullman
Directions
Beginning on Hwy 31 in downtown Cullman, turn and travel east on US Hwy 278 E (aka 3rd Street SE). Travel approximately 1.5 miles and turn left onto Richard Ave. Richard Ave. will become a dead end and the property is located on the left side or road.
Subdivision
Cullman
Standard status
Active
APN
17-01-11-4-003-001.001
Size
1,248 SF
Lot size
1.90 Acres
Taxes and HOA fees
Tax Description
1.9 AC, LOT 2 QUIET VILLAGE SUB
Tax Annual Amount
486
Legal Description
1.9 AC, LOT 2 QUIET VILLAGE SUB
Utilities
Sewer type
Public Sewer
Building Details
Year built
1986
Listing Agency:
Realty Executives - Eagle Eye · Realty Executives International
(256) 708-3678
Listed By:
Scott C Edmondson · License #112482
(256) 708-3678
Added: May 4
Changed: Aug 4
Last Checked: Aug 24 at 4:06AM
MLS# 528653
Copyright © 2026 Strategic MLS Alliance, 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 1.9-acre commercial property is located within Cullman City Limits and is zoned B1. The property offers an opportunity for rental income and has potential for various business uses. The property is suitable for an electrical, plumbing, or contractor-type business needing both office space and an area to park equipment or trucks. Other potential uses include accounting, massage, or counseling services. The property benefits from its proximity to St. Bernard and other businesses, while also offering a unique sense of privacy. The existing structure has 1248 square feet of office space.
Key Highlights
- Located in Cullman City Limits with B1 zoning, offering diverse business opportunities.
- Totaling 1.9 acres, suitable for businesses needing office space and equipment/truck parking.
- Potential uses include office space for electrical, plumbing, or contractor businesses.
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
$9,907
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
4.40%
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%
$198,140
$198.1K
Cap Rate 7%
$141,529
$141.5K
Cap Rate 9%
$110,078
$110.1K
Market Conditions
NOI Build-Up for 1,248 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
$15.7K $12.60/SF
− Vacancy
−$2.5K −$2.02/SF
EGI
$13.2K $10.58/SF
− OpEx
−$3.3K −$2.65/SF
NOI
$9.9K $7.94/SF
Area
Cullman County, AL
Vacancy
16.00%
Lease Rate
$12.60 /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%
$198,140
Cap Rate 7%
$141,529
Cap Rate 9%
$110,078
Alternative Uses
Best Use
Office B
$141.5K
$123.8K – $165.1K
NOI $9,907 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$184.0K
$161.0K – $214.7K
NOI $12,879 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
102
Businesses Nearby
Explore this area
Business Placement
Demographics for 35055, AL
22,299
Population
10,664
Households
2.1
Avg Household Size
39
Median Age
26%
College-Educated
88%
High-School Grad
63.8 sq mi
ZIP Area
350
Density / Sq Mi
$58,488
Median Household Income
$40,079
Median Earnings
$934
Median Rent
$195,400
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?
Office units - 1.9 acres of commercial land in Cullman, Alabama.
Where is this office units located?
The property is located at 207 Richard Ave NE Cullman, AL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Located in Cullman City Limits with B1 zoning, offering diverse business opportunities.; Totaling 1.9 acres, suitable for businesses needing office space and equipment/truck parking.; Potential uses include office space for electrical, plumbing, or contractor businesses.
