Medical Office Building with Dental
For Sale
$2,290,000
221 Rice Mine Road NE, Tuscaloosa, AL 35406
CommercialSale, Tuscaloosa, AL
Property Size6,000 SF
Lot Size0.82 Acres
Price / SF$381.67
Days on Market366
Property Features for 221 Rice Mine Road NE
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
From McFarland Blvd. turn onto Rice Mine Rd. NE. Property is on the right.
Subdivision
(01) North of the River City
Standard status
Active
APN
31-01-12-4-011-002.002
Size
6,000 SF
Lot size
0.82 Acres
Taxes and HOA fees
Tax Description
Beg 430(S) N Of & 765(S) E Of Sw Cor Se1/4 S12 Th Ne 201.4; Se 249.6; Sw 70.1; Nw 115(S); Se 80.1; Sw 37.1;Nw 132.8 To Pob In Sw1/4-Se1/4 S12 T21s R10w
Tax Annual Amount
7186
Legal Description
Beg 430(S) N Of & 765(S) E Of Sw Cor Se1/4 S12 Th Ne 201.4; Se 249.6; Sw 70.1; Nw 115(S); Se 80.1; Sw 37.1;Nw 132.8 To Pob In Sw1/4-Se1/4 S12 T21s R10w
Building Details
Number of units
1
Listing Agency:
Harwood Real Estate LLC
(205) 764-1637
Listed By:
Richard Harwood · License #118535018
(205) 799-2210
Added: Sep 4, 2025
Changed: Aug 26
Last Checked: Sep 4 at 7:06PM
MLS# 170720
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.
This 6,000-square-foot medical office property includes a dental-oriented build-out within a 0.82-acre site. The improvements are configured for medical practice use and include on-site parking for patients and staff.
The property is located at 221 Rice Mine Road NE in Tuscaloosa, Alabama. Its position along Rice Mine Road NE provides access to a high-traffic corridor, with visibility from the roadway and a location associated with medical office activity.
The property is located at 221 Rice Mine Road NE in Tuscaloosa, Alabama. Its position along Rice Mine Road NE provides access to a high-traffic corridor, with visibility from the roadway and a location associated with medical office activity.
Key Highlights
- 6,000 SF medical office building
- Dental‑oriented medical build‑out
- 0.82‑acre property
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
$80,352
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
3.51%
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%
$1,607,040
$1.6M
Cap Rate 7%
$1,147,886
$1.1M
Cap Rate 9%
$892,800
$892.8K
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
$144.0K $24.00/SF
− Vacancy
−$10.1K −$1.68/SF
EGI
$133.9K $22.32/SF
− OpEx
−$53.6K −$8.93/SF
NOI
$80.4K $13.39/SF
Area
Tuscaloosa, AL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,607,040
Cap Rate 7%
$1,147,886
Cap Rate 9%
$892,800
Alternative Uses
Best Use
Healthcare Medical
$1.15M
$1.00M – $1.34M
NOI $80,352 @ 7.0% cap · market cap 3.51%
Second Best
Office B
$992.8K
$868.7K – $1.16M
NOI $69,498 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,930 @ 7.0% cap · market cap 4.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35406, AL
16,664
Population
8,291
Households
2
Avg Household Size
40
Median Age
68%
College-Educated
97%
High-School Grad
80.9 sq mi
ZIP Area
206
Density / Sq Mi
$118,736
Median Household Income
$68,810
Median Earnings
$1,352
Median Rent
$467,000
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.
Similar Off Market Nearby
- Indian Hills Animal Clinic — 200 McFarland Cir N, Tuscaloosa, AL 35406
- White Scott E MD — 301 23rd St N, Tuscaloosa, AL 35406
Frequently Asked Questions
What type of property is this?
Medical Office Space - Purpose-built medical space with patient parking and access along Rice Mine Road NE.
Where is this medical office space located?
The property is located at 221 Rice Mine Road NE Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $2,290,000.
What are key features of this property?
This property features: 6,000 SF medical office building; Dental‑oriented medical build‑out; 0.82‑acre property
