New Class A Office
For Sale
$3,299,000
5051 Union Station, Northport, AL 35473
SINGLE_FAMILY - Northport, AL
Property Size12,000 SF
Lot Size1.53 Acres
Price / SF$274.92
Days on Market351
Property Features for 5051 Union Station
General Information
Property type
Residential
Property subtype
Office
Directions
From HWY 82, turn onto HWY 69 N. Turn right onto Union Chapel Road then right on Union Station. Property is on the left.
Subdivision
(06) Northport City
Standard status
Active
APN
31-02-03-1-001-042.001
Size
12,000 SF
Lot size
1.53 Acres
Taxes and HOA fees
Tax Description
Lot 5 Union Station S/D
Tax Annual Amount
2654
Legal Description
Lot 5 Union Station S/D
Building Details
Number of units
1
Listing Agency:
Harwood Real Estate LLC
(205) 764-1637
Listed By:
Neal Dichiara · License #AL000135301-0
(205) 292-1346
Added: Aug 26, 2025
Changed: May 14
Last Checked: Aug 11 at 2:06AM
MLS# 170482
Copyright © 2026 West Alabama Multiple Listing Service. 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 is a brand new 12,000 square foot Class A office space located in Northport, Alabama. The modern property is designed for today's businesses, offering a professional image and state-of-the-art finishes. It includes technology upgrades for connectivity and productivity. The space is suitable for companies seeking a presence in a fast-growing market, providing functionality and sophistication. The property is move-in ready and located on a 1.53 acre lot in Tuscaloosa County.
Key Highlights
- Brand new 12,000 SF Class A office space.
- Move‑in ready condition.
- State‑of‑the‑art finishes.
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
$138,996
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
4.21%
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%
$2,779,920
$2.8M
Cap Rate 7%
$1,985,657
$2.0M
Cap Rate 9%
$1,544,400
$1.5M
Market Conditions
NOI Build-Up for 12,000 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
$237.6K $19.80/SF
− Vacancy
−$52.3K −$4.36/SF
EGI
$185.3K $15.44/SF
− OpEx
−$46.3K −$3.86/SF
NOI
$139.0K $11.58/SF
Area
Tuscaloosa County, AL
Vacancy
22.00%
Lease Rate
$19.80 /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%
$2,779,920
Cap Rate 7%
$1,985,657
Cap Rate 9%
$1,544,400
Alternative Uses
Best Use
Office B
$1.99M
$1.74M – $2.32M
NOI $138,996 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,859 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 35473, AL
17,888
Population
8,601
Households
2.1
Avg Household Size
38
Median Age
37%
College-Educated
90%
High-School Grad
25.8 sq mi
ZIP Area
693
Density / Sq Mi
$67,224
Median Household Income
$44,581
Median Earnings
$922
Median Rent
$249,900
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 - Modern 12,000 SF office space in fast-growing Northport, Alabama.
Where is this office building located?
The property is located at 5051 Union Station Northport, AL.
What is the asking price?
The asking price for this property is $3,299,000.
What are key features of this property?
This property features: Brand new 12,000 SF Class A office space.; Move‑in ready condition.; State‑of‑the‑art finishes.
