Restaurant Property With Commercial
For Sale
$350,000
4608 Desoto Parkway N, Fort Payne, AL 35967
Business Opportunity, Fort Payne, AL
Property Size2,752 SF
Lot Size1.50 Acres
Price / SF$127.18
Days on Market45
Property Features for 4608 Desoto Parkway N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Parking Lot, Driveway
Subdivision
Metes And Bounds
Lot features
High Visibility
Directions
From Fort Payne Gault Ave N To 5th St N. Turn Right And Follow Hwy 35 To 2nd Caution Light At Top Of Lookout Mountain. Turn Left Onto Desoto Parkway/County Road 89. After Fisher Crossroads, Property Is 3rd Property On Left. No Sign In Place.
Standard status
Active
APN
1407360000030.005
Size
2,752 SF
Lot size
1.50 Acres
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1990
Floors in Building
2
Flooring type
Concrete, Wood
Roof type
Metal
Listing Agency:
Southern Properties Agency Inc
(256) 845-6000
Listed By:
Pamela Hancock · License #112066
(256) 996-5112
Added: Jul 24
Changed: Sep 3
Last Checked: Sep 6 at 6:06AM
MLS# 21870315
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 2,752-square-foot restaurant property occupies 1.5 acres and includes kitchen equipment, seating, grills, and two bathrooms. The building was constructed in 1990 and features wood and concrete flooring, a metal roof, electric heat, and central air conditioning. On-site parking is provided through a parking lot and driveway.
The property is located on DeSoto Parkway in Fort Payne, with access to public water and a septic tank system. Nearby destinations identified for the area include DeSoto State Park, Little River Canyon, the JSU Canyon Center, and Mentone. The site is also described as serving campers visiting the area throughout the year.
The property is located on DeSoto Parkway in Fort Payne, with access to public water and a septic tank system. Nearby destinations identified for the area include DeSoto State Park, Little River Canyon, the JSU Canyon Center, and Mentone. The site is also described as serving campers visiting the area throughout the year.
Key Highlights
- 2,752‑square‑foot former restaurant on 1.5 acres
- Kitchen equipment, seating, and grills included
- Parking lot and driveway provide on‑site parking
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
$30,372
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
8.68%
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%
$607,440
$607.4K
Cap Rate 7%
$433,886
$433.9K
Cap Rate 9%
$337,467
$337.5K
Market Conditions
NOI Build-Up for 2,752 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
$43.9K $15.96/SF
− Vacancy
−$3.4K −$1.24/SF
EGI
$40.5K $14.72/SF
− OpEx
−$10.1K −$3.68/SF
NOI
$30.4K $11.04/SF
Area
DeKalb County, AL
Vacancy
7.80%
Lease Rate
$15.96 /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%
$607,440
Cap Rate 7%
$433,886
Cap Rate 9%
$337,467
Alternative Uses
Best Use
Specialty Retail
$433.9K
$379.7K – $506.2K
NOI $30,372 @ 7.0% cap · market cap 8.68%
Second Best
Industrial
$131.1K
$114.7K – $152.9K
NOI $9,175 @ 7.0% cap · market cap 2.62%
Theoretical Best
Healthcare Medical
$443.3K
$387.9K – $517.2K
NOI $31,034 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35967, AL
17,233
Population
7,825
Households
2.2
Avg Household Size
37
Median Age
16%
College-Educated
81%
High-School Grad
127.0 sq mi
ZIP Area
136
Density / Sq Mi
$48,125
Median Household Income
$32,051
Median Earnings
$678
Median Rent
$155,700
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Former restaurant with kitchen equipment, seating, grills, and on-site parking on DeSoto Parkway.
Where is this conventional restaurant located?
The property is located at 4608 Desoto Parkway N Fort Payne, AL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,752‑square‑foot former restaurant on 1.5 acres; Kitchen equipment, seating, and grills included; Parking lot and driveway provide on‑site parking
