Two-Suite Office
For Sale
$1,280,000
3609 S Memorial Parkway, Huntsville, AL 35801
Business Opportunity, Huntsville, AL
Property Size4,700 SF
Lot Size0.58 Acres
Price / SF$272.34
Days on Market99
Property Features for 3609 S Memorial Parkway
General Information
Property type
Residential
Property subtype
Office
Zoning description
Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Parking features
Parking Lot
Lot features
High Visibility
Directions
On The Access Road On South Memorial Parkway Just North Of Airport Road
Standard status
Active
APN
1706131000006000
Size
4,700 SF
Lot size
0.58 Acres
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1977
Floors in Building
1
Flooring type
Carpet
Roof type
Metal
Listing Agency:
Russ Russell Real Estate
(256) 536-7777
Listed By:
Russ Russell · License #25965
(256) 527-7777
Added: May 30
Changed: Sep 2
Last Checked: Sep 5 at 8:06AM
MLS# 21917118
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 4,700-square-foot office building contains two separate suites that may be operated independently or combined into a larger office layout. The property includes carpeted interiors, three bathrooms, central air, heat-pump heating, a metal roof, and an on-site parking lot. Public water and sewer serve the building, which was constructed in 1977.
The 0.58-acre property includes a 0.32-acre lot positioned directly behind the office building. It fronts the northbound access road along the Parkway and is located across from the Stadium Commons development site and John Hunt Sports Complex in South Huntsville.
The 0.58-acre property includes a 0.32-acre lot positioned directly behind the office building. It fronts the northbound access road along the Parkway and is located across from the Stadium Commons development site and John Hunt Sports Complex in South Huntsville.
Key Highlights
- 4,700‑square‑foot office building with two separate suites
- Two suites may be combined into one larger office layout
- Total property area of 0.58 acres, including a 0.32‑acre rear lot
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
$60,045
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
4.69%
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%
$1,200,900
$1.2M
Cap Rate 7%
$857,786
$857.8K
Cap Rate 9%
$667,167
$667.2K
Market Conditions
NOI Build-Up for 4,700 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
$94.2K $20.04/SF
− Vacancy
−$14.1K −$3.01/SF
EGI
$80.1K $17.03/SF
− OpEx
−$20.0K −$4.26/SF
NOI
$60.0K $12.78/SF
Area
Huntsville, AL
Vacancy
15.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,200,900
Cap Rate 7%
$857,786
Cap Rate 9%
$667,167
Alternative Uses
Best Use
Office B
$857.8K
$750.6K – $1.00M
NOI $60,045 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,672 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,000
Businesses Nearby
Explore this area
Business Placement
Demographics for 35801, AL
22,539
Population
11,225
Households
2
Avg Household Size
43
Median Age
55%
College-Educated
90%
High-School Grad
13.8 sq mi
ZIP Area
1,633
Density / Sq Mi
$103,125
Median Household Income
$60,370
Median Earnings
$1,130
Median Rent
$399,700
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?
Office building - Freestanding office property with flexible suite configuration, parking, public utilities, and a substantial rear lot.
Where is this office building located?
The property is located at 3609 S Memorial Parkway Huntsville, AL.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: 4,700‑square‑foot office building with two separate suites; Two suites may be combined into one larger office layout; Total property area of 0.58 acres, including a 0.32‑acre rear lot
