Auto Shop Building with NN
For Sale
$1,000,000
2828 Jordan Lane, Huntsville, AL 35810
Business Opportunity, Huntsville, AL
Property Size7,057 SF
Lot Size1.28 Acres
Price / SF$141.70
Days on Market45
Property Features for 2828 Jordan Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Exterior features
Lighting
Directions
From University Drive, Take Jordan Lane Nw North Toward Mastin Lake Road. Property Is On The Right At 2828 Jordan Lane Nw.
Standard status
Active
APN
1404200002044.000
Size
7,057 SF
Lot size
1.28 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
Recently replaced HVAC with manufacturer warranty
Building Details
Year built
1979
Floors in Building
1
Flooring type
Concrete
Listing Agency:
Legend Realty
(256) 428-3780
Listed By:
Larry Barkley · License #96155
(256) 694-5944
Added: Aug 14
Changed: Aug 19
Last Checked: Sep 27 at 12:06AM
MLS# 21926505
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 7,057-square-foot auto shop property includes a commercial building constructed in 1979 on two parcels totaling approximately 1.28 acres. Gerber Collision & Glass occupies the facility under an existing NN lease. The improvements include concrete flooring, central heating and central air, exterior lighting, and a parking lot. HVAC equipment was recently replaced and carries a manufacturer warranty.
The current lease term runs through April 2028 and provides four additional five-year renewal options, with scheduled rent increases during the renewal periods. The tenant is responsible for property insurance, while real estate taxes are included in operating costs under the lease. Public water and public sewer serve the property.
The current lease term runs through April 2028 and provides four additional five-year renewal options, with scheduled rent increases during the renewal periods. The tenant is responsible for property insurance, while real estate taxes are included in operating costs under the lease. Public water and public sewer serve the property.
Key Highlights
- 7,057‑square‑foot commercial building on approximately 1.28 acres
- Occupied by Gerber Collision & Glass under an existing NN lease
- Current lease term extends through April 2028
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
$86,251
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
8.63%
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%
$1,725,020
$1.7M
Cap Rate 7%
$1,232,157
$1.2M
Cap Rate 9%
$958,344
$958.3K
Market Conditions
NOI Build-Up for 7,057 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
$127.0K $18.00/SF
− Vacancy
−$3.8K −$0.54/SF
EGI
$123.2K $17.46/SF
− OpEx
−$37.0K −$5.24/SF
NOI
$86.3K $12.22/SF
Area
Huntsville, AL
Vacancy
3.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,725,020
Cap Rate 7%
$1,232,157
Cap Rate 9%
$958,344
Alternative Uses
Best Use
Retail
$1.23M
$1.08M – $1.44M
NOI $86,251 @ 7.0% cap · market cap 8.63%
Second Best
Industrial
$637.2K
$557.6K – $743.4K
NOI $44,606 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,635 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
178
Businesses Nearby
21k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Dining 18%
Chevron
Shops & Services
7,031 visits/mo
0.5 miles
Sunoco
Shops & Services
4,083 visits/mo
0.5 miles
SUBWAY
Dining
3,712 visits/mo
0.4 miles
Marathon
Shops & Services
2,699 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
2,396 visits/mo
0.4 miles
Demographics for 35810, AL
29,976
Population
13,283
Households
2.3
Avg Household Size
38
Median Age
24%
College-Educated
85%
High-School Grad
28.1 sq mi
ZIP Area
1,067
Density / Sq Mi
$46,963
Median Household Income
$31,080
Median Earnings
$1,097
Median Rent
$126,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Auto shop - Occupied collision-repair facility with public utilities, concrete flooring, central systems, and an on-site parking lot.
Where is this auto shop located?
The property is located at 2828 Jordan Lane Huntsville, 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: 7,057‑square‑foot commercial building on approximately 1.28 acres; Occupied by Gerber Collision & Glass under an existing NN lease; Current lease term extends through April 2028
