Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Gadsden Commercial Building For Sale Title is generated by Realmo AI

    2306 W Meighan Boulevard, Gadsden, AL 35904

    View on Map
    Claim this Listing
    For Sale
    $172,900

    COMMERCIAL - Gadsden, AL

    Property size:
    1,303 SF
    Lot size:
    0.35 Acres
    Price / SF:
    $132/SF
    Added:
    Apr 7, 2026
    Days on Market:
    51
    Last Refresh:
    May 27 at 7:06 pm

    Property Features for 2306 W Meighan Boulevard

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Parking features
    Parking Lot
    Window features
    Display Window(s)
    Exterior features
    Sidewalks, Curb/Gutters, Lighting
    Standard status
    Active
    APN
    1503061000154.002
    Size
    1,303 SF
    Lot size
    0.35 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1986
    Floors in Building
    1
    Flooring type
    Concrete, Carpet, Vinyl

    We can help!

    Listing Contact
    Tokrica Mack

    Listing agent Tokrica Mack License #73524

    Listing office Era King Real Estate 3327 Rainbow Drive, AL

    Listing date Apr 7, 2026

    MLS# 21914350

    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.

    HighLights

    • Flexible layout suitable for retail, office, or service use.
    • Convenient location with high traffic count.
    • Updated flooring, fresh paint, and ample overhead lighting.
    • Breakroom/kitchen area with appliances.
    • Front parking with additional space in the rear.
    • Public and private bathrooms.

    Overview

    This versatile commercial building in Gadsden, Alabama, offers potential for retail, office, or service-oriented businesses. The property features an open floor plan, updated flooring, fresh paint, and ample overhead lighting. It includes a breakroom/kitchen area with appliances, private office space, public and private bathrooms, and a dedicated storage area. The building provides front parking with additional space in the rear. Situated on a 0.35-acre lot, the property encompasses 1303 square feet. This commercial space is ideal for an owner-user or investor seeking a flexible layout in a convenient location with a high traffic count.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $133.8K
    NOI $12,040 @ 9.00% cap · cautious / downside scenario
    Moderate
    $172.0K
    NOI $12,040 @ 7.00% cap · market / base-case scenario
    Aggressive
    $240.8K
    NOI $12,040 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $19.5k $15.00
    − Vacancy −$2.3k −$1.80
    EGI $17.2k $13.20
    − OpEx −$5.2k −$3.96
    NOI $12.0k $9.24
    1,303 SF · lease $15.00/SF/yr · vacancy 12.00% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $172.0K
    $150.5K – $200.7K (±1% cap)
    NOI $12,040 @ 7.0% cap · market cap 6.96%
    Second Best
    Office B
    $120.2K
    $105.2K – $140.3K (±1% cap)
    NOI $8,415 @ 7.0% cap · market cap 4.87%
    Theoretical Best
    Specialty Retail
    $213.0K
    $186.4K – $248.6K (±1% cap)
    NOI $14,913 @ 7.0% cap · market cap 8.63%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gadsden
    County
    Etowah
    State
    Alabama
    Longitude
    -86.03861
    Latitude
    34.022894

    Nearby Similar for Sale

    • $319,900

      Remodeled Retail Opportunity on Highway

      Turn-key commercial space in high-traffic location on Highway 431.
      15391 HIGHWAY 431, GADSDEN, AL 35905
      View Details
    • $319,900
      1,260 SF

      Remodeled Commercial Space on Highway

      Turn-key commercial space with high visibility and traffic.
      15391 Highway 431 S, Gadsden, AL 35905
      View Details
    • $429,900
      2,574 SF

      Gadsden Medical Office with Parking

      Duplex-style medical office near Riverview Regional Medical Center.
      427 S 4th Street, Gadsden, AL 35901
      View Details
    • $499,900
      9,696 SF

      Gadsden Commercial Property on Highway 431

      Strategically located warehouse with office space and ample fenced yard.
      1229 Malone Street, Gadsden, AL 35901
      View Details
    • $999,900
      12,000 SF

      Downtown Gadsden Multi-Tenant Building

      Prime commercial building with high visibility and income potential.
      546 Broad Street, Gadsden, AL 35901
      View Details
    • $585,000
      8,800 SF

      Gadsden Commercial Property For Sale

      Commercial property suitable for office or religious activities.
      813 Chestnut Street, Gadsden, AL 35901
      View Details
    • $399,900
      2,303 SF

      Gadsden Office Space For Sale

      Timeless office space in downtown Gadsden near Riverview Regional.
      704 S 4th Street, Gadsden, AL 35901
      View Details
    • $499,900
      7,281 SF

      Downtown Gadsden Commercial Building

      7,300 SF +/- commercial building in downtown Gadsden, Alabama.
      534 Walnut Street, Gadsden, AL 35901
      View Details
    • $149,900
      2,066 SF

      Historic Commercial Building in Gadsden

      Located in the heart of Alabama City's historic district.
      218 Wall Street, Gadsden, AL 35904
      View Details
    • $365,000
      7,954 SF

      Gadsden Office Building on Highway

      Multi-use office building with high visibility and access.
      2600 E Meighan Boulevard, Gadsden, AL 35903
      View Details
    • $199,000

      Mixed-Use Property in Gadsden, AL

      Mixed-use property with office space and garage in Gadsden.
      2716 FIELDS AVENUE, GADSDEN, AL 35903
      View Details
    • $1,399,000
      31,850 SF

      Gadsden Commercial Facility on 10 Acres

      31,850 SF commercial facility on 10 acres in Gadsden.
      771 Whites Chapel Road, Gadsden, AL 35901
      View Details

    FAQs

    What type of property is this?
    Retail space - Versatile commercial building suitable for retail, office, or service use.
    Where is this retail space located?
    The property is located at 2306 W Meighan Boulevard Gadsden, AL.
    What is the asking price?
    The asking price for this property is $172,900.
    What are key features of this property?
    This property features: Flexible layout **suitable for retail, office, or service use.**; Convenient location with high traffic count.; **Updated flooring, fresh paint, and ample overhead lighting.**
    (256) 458-2597
    We can help!
    Listing Contact
    Tokrica Mack
    Real Estate License ID: 73524
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2306 W Meighan Boulevard, Gadsden, AL 35904
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!