Attractive Office on Attorney
308 Alabama Avenue SW Fort Payne, AL 35967
308 Alabama Avenue SW, Fort Payne, AL, 35967
$215,000
For Sale
$215,000
SINGLE_FAMILY - Fort Payne, AL
Property Size1,709 SF
Lot Size0.22 Acres
Price / SF$125.80
Days on Market123
Property Features for 308 Alabama Avenue SW
General Information
- Property type
- Residential
- Property subtype
- Office
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1
- Standard status
- Active
- APN
- 2303074001023.000
- Size
- 1,709 SF
- Lot size
- 0.22 Acres
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Floors in Building
- 1
- Flooring type
- Wood
Listing Agency
Southern Properties Agency Inc
(256) 845-6000
311 Gault Avenue N, Fort Payne, AL
Listed by
Kevin Burt · License #66758
(256) 996-0003
Added: Mar 17 Checked: Jul 17 at 3:06 am
MLS# 21882026
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Investment Insights
Based on property information with market context.
This attractive office building, situated on Attorney Row, features a brick exterior and original hardwood floors. Plantation shutters adorn the windows. The layout includes six rooms, two restrooms, and a kitchenette area. One of the rooms is configured as a conference room. The reception area is enhanced by a fireplace. Mature landscaping surrounds the property. Additional features include a small storage area in a partial basement and a single-car detached garage. The property has a size of 1709 square feet and sits on a 0.22-acre lot.
Key Highlights
- Attractive brick exterior on Attorney Row
- Original hardwood floors throughout
- Six rooms including a conference room
Local Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.5k | $11.40 |
| − Vacancy | −$4.3k | −$2.51 |
| EGI | $15.2k | $8.89 |
| − OpEx | −$3.8k | −$2.22 |
| NOI | $11.4k | $6.67 |
1,709 SF · lease $11.40/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$162.8K
$142.5K – $190.0K
NOI $11,397 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$275.3K
$240.9K – $321.2K
NOI $19,272 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
French Tommy A
Law Firm
Robert B. French, ...
Law Firm
Al A Justice
Law Firm
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FAQs
What type of property is this?
Office units - Charming office building with hardwood floors and mature landscaping.
Where is this office units located?
The property is located at 308 Alabama Avenue SW Fort Payne, AL.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Attractive brick exterior on Attorney Row; Original hardwood floors throughout; Six rooms including a conference room
