Flex Space with
For Sale
$193,000
3637 Winchester Road, New Market, AL 35761
COMMERCIAL - New Market, AL
Property Size1,520 SF
Lot Size0.50 Acres
Price / SF$126.97
Days on Market67
Property Features for 3637 Winchester Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business, Commercial, Unzoned
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Driveway
Accessibility
Accessible Doors
Subdivision
Metes And Bounds
Lot features
High Visibility
Directions
Hwy 72 East, Left Moores Mill Rd, Right Winchester Rd, Property On Left Past County Lake Rd Before Green Rd.
Standard status
Active
APN
0904192000056000
Size
1,520 SF
Lot size
0.50 Acres
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Vinyl
Roof type
Metal
Listing Agency:
One Key Realty
(256) 626-6736
Listed By:
Vanessa Blackwell · License #105886
(256) 797-2376
Added: Jun 9
Changed: Aug 4
Last Checked: Aug 14 at 12:06PM
MLS# 21919755
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.
Flex space on an approximately 0.5-acre lot featuring a full kitchen, a 1/2 bathroom, and a fireplace. The interior includes vinyl flooring and accessible doors. The home is served by central electric heating with central air conditioning, and it has a metal roof.
Water is provided by public service, with a septic tank for sewer. Parking is available via a driveway.
With its combination of residential-style living features and flexible space configuration, the property can be evaluated for either residential use or a business setup that benefits from an onsite kitchen and fireplace.
Water is provided by public service, with a septic tank for sewer. Parking is available via a driveway.
With its combination of residential-style living features and flexible space configuration, the property can be evaluated for either residential use or a business setup that benefits from an onsite kitchen and fireplace.
Key Highlights
- Approximately 0.5‑acre lot
- 1,520 SF flex space
- Full kitchen plus 1/2 bathroom
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
$16,361
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
8.48%
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%
$327,220
$327.2K
Cap Rate 7%
$233,729
$233.7K
Cap Rate 9%
$181,789
$181.8K
Market Conditions
NOI Build-Up for 1,520 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
$27.4K $18.00/SF
− Vacancy
−$2.2K −$1.44/SF
EGI
$25.2K $16.56/SF
− OpEx
−$8.8K −$5.80/SF
NOI
$16.4K $10.76/SF
Area
Madison County, AL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$327,220
Cap Rate 7%
$233,729
Cap Rate 9%
$181,789
Alternative Uses
Best Use
Flex RnD
$233.7K
$204.5K – $272.7K
NOI $16,361 @ 7.0% cap · market cap 8.48%
Second Best
Industrial
$88.0K
$77.0K – $102.7K
NOI $6,161 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$395.8K
$346.3K – $461.8K
NOI $27,707 @ 7.0% cap · market cap 14.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35761, AL
12,561
Population
5,522
Households
2.3
Avg Household Size
40
Median Age
30%
College-Educated
90%
High-School Grad
116.6 sq mi
ZIP Area
108
Density / Sq Mi
$82,321
Median Household Income
$45,892
Median Earnings
$975
Median Rent
$215,300
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Versatile flex space on 0.5 acres with a full kitchen, fireplace, and metal roof.
Where is this flex space located?
The property is located at 3637 Winchester Road New Market, AL.
What is the asking price?
The asking price for this property is $193,000.
What are key features of this property?
This property features: Approximately 0.5‑acre lot; 1,520 SF flex space; Full kitchen plus 1/2 bathroom
