Un-zoned Medical Office Space with Wood
For Sale
$1,000,000
24497 1/2 W Highway 72, Athens, AL 35613
COMMERCIAL - Athens, AL
Property Size4,900 SF
Lot Size2.65 Acres
Price / SF$204.08
Days on Market215
Property Features for 24497 1/2 W Highway 72
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Unzoned
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2
Subdivision
Metes And Bounds
Directions
From Hwy 65 Go East About 2miles On Hwy 72. The Property Is Directly Across From Jimmy Smith Gmc.
Standard status
Active
Size
4,900 SF
Lot size
2.65 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
1
Flooring type
Wood
Listing Agency:
Avanti Realty Services LLC
(256) 714-1300
Listed By:
Alex Mukai · License #99826
(256) 714-1300
Added: Jan 8
Changed: Aug 4
Last Checked: Aug 11 at 1:06AM
MLS# 21866017
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 un-zoned medical office space is set up for a range of single-tenant uses, including day care, urgent care, medical office, attorney office, and retail office concepts, along with multi-family use. The property includes wood flooring and three bathrooms, and it sits on a 2.65-acre site. Public water and public sewer services are available.
The property is approximately 2.5 miles east of US Interstate 65 and is across from Jimmy Smith GMC.
With the combination of flexible use positioning and existing interior amenities, the site can be evaluated for office-focused tenant requirements and operations that benefit from public utilities and on-site improvements.
The property is approximately 2.5 miles east of US Interstate 65 and is across from Jimmy Smith GMC.
With the combination of flexible use positioning and existing interior amenities, the site can be evaluated for office-focused tenant requirements and operations that benefit from public utilities and on-site improvements.
Key Highlights
- 2.65‑acre un‑zoned site for single use tenants including medical and office‑related uses
- Approximately 2.5 miles east of US Interstate 65
- Across from Jimmy Smith GMC
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
$63,504
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
6.35%
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%
$1,270,080
$1.3M
Cap Rate 7%
$907,200
$907.2K
Cap Rate 9%
$705,600
$705.6K
Market Conditions
NOI Build-Up for 4,900 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
$117.6K $24.00/SF
− Vacancy
−$11.8K −$2.40/SF
EGI
$105.8K $21.60/SF
− OpEx
−$42.3K −$8.64/SF
NOI
$63.5K $12.96/SF
Area
Limestone County, AL
Vacancy
10.00%
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%
$1,270,080
Cap Rate 7%
$907,200
Cap Rate 9%
$705,600
Alternative Uses
Best Use
Healthcare Medical
$907.2K
$793.8K – $1.06M
NOI $63,504 @ 7.0% cap · market cap 6.35%
Second Best
Office B
$894.3K
$782.5K – $1.04M
NOI $62,600 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,317 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35613, AL
22,935
Population
9,776
Households
2.3
Avg Household Size
42
Median Age
36%
College-Educated
91%
High-School Grad
75.0 sq mi
ZIP Area
306
Density / Sq Mi
$103,281
Median Household Income
$51,834
Median Earnings
$1,284
Median Rent
$291,300
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?
Medical Office Space - Un-zoned medical and office property with wood flooring, public water, and public sewer on a 2.65-acre site.
Where is this medical office space located?
The property is located at 24497 1/2 W Highway 72 Athens, AL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 2.65‑acre un‑zoned site for single use tenants including medical and office‑related uses; Approximately 2.5 miles east of US Interstate 65; Across from Jimmy Smith GMC
