Commercial Land with
For Sale
$379,000
469 Gillespie Road, Madison, AL 35758
Business Opportunity, Madison, AL
Property Size1,956 SF
Lot Size1.00 Acre
Price / SF$193.76
Days on Market272
Property Features for 469 Gillespie Road
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Subdivision
Metes And Bounds
Directions
From Hwy 72 Go South On Wall Triana Hwy About 3 Miles To Gillespie Rd. Turn Right And The Property Is On The Right Corner Of Gillespie Rd. And Evans Rd.
Standard status
Active
Size
1,956 SF
Lot size
1.00 Acre
Utilities
Sewer type
Septic Tank
Water source
Public
Amenities
storm shelter
2 storage buildings
8'x60' front porch
screened patio 12x12
Building Details
Floors in Building
1
Flooring type
Wood
Listing Agency:
Avanti Realty Services LLC
(256) 714-1300
Listed By:
Alex Mukai · License #99826
(205) 951-8992
Added: Dec 27, 2025
Changed: Sep 25
Last Checked: Sep 25 at 10:06PM
MLS# 21893428
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 1-acre commercial land property at 469 Gillespie Road includes a 1,956-square-foot structure with wood flooring and two bathrooms. Existing improvements also include two storage buildings, a storm shelter, an 8'x60' front porch, and a 12x12 screened patio. The property has public water and a septic tank, with the septic system installed in 2009. Flooring and plumbing in the bath and kitchen were updated in 2018.
Located in Madison, Alabama, the property is unzoned and situated in unincorporated Madison County. The stated use examples include commercial, multi-family, and medical facilities, with potential single-use applications such as office, veterinary, urgent care, day care, grocery, restaurant, and auto repair operations.
Located in Madison, Alabama, the property is unzoned and situated in unincorporated Madison County. The stated use examples include commercial, multi-family, and medical facilities, with potential single-use applications such as office, veterinary, urgent care, day care, grocery, restaurant, and auto repair operations.
Key Highlights
- 1‑acre commercial land property with a 1,956‑square‑foot existing structure
- Unzoned in unincorporated Madison County
- Public water and septic tank; septic installed in 2009
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
$24,989
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
6.59%
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%
$499,780
$499.8K
Cap Rate 7%
$356,986
$357.0K
Cap Rate 9%
$277,656
$277.7K
Market Conditions
NOI Build-Up for 1,956 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
$39.2K $20.04/SF
− Vacancy
−$5.9K −$3.01/SF
EGI
$33.3K $17.03/SF
− OpEx
−$8.3K −$4.26/SF
NOI
$25.0K $12.78/SF
Area
Madison County, 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%
$499,780
Cap Rate 7%
$356,986
Cap Rate 9%
$277,656
Alternative Uses
Best Use
Office B
$357.0K
$312.4K – $416.5K
NOI $24,989 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$509.3K
$445.7K – $594.2K
NOI $35,654 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 35758, AL
48,192
Population
20,322
Households
2.4
Avg Household Size
38
Median Age
64%
College-Educated
98%
High-School Grad
27.2 sq mi
ZIP Area
1,772
Density / Sq Mi
$115,780
Median Household Income
$61,321
Median Earnings
$1,375
Median Rent
$336,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Commercial land - Unzoned Madison County property with an existing structure, storage buildings, porch, screened patio, and septic service.
Where is this commercial land located?
The property is located at 469 Gillespie Road Madison, AL.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 1‑acre commercial land property with a 1,956‑square‑foot existing structure; Unzoned in unincorporated Madison County; Public water and septic tank; septic installed in 2009
