Professional Office
For Sale
$995,000
5690 Watermelon Road, Northport, AL 35473
CommercialSale, Northport, AL
Property Size4,200 SF
Lot Size0.26 Acres
Price / SF$236.90
Days on Market362
Property Features for 5690 Watermelon Road
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
From intersection of Watermelon & Ol Colony, South on Watermelon, turn left on 56th St E, Property is the corner lot of 56th St E and the Flags Development
Subdivision
(06) Northport City
Standard status
Active
APN
20-07-35-4-001-021.004
Size
4,200 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
Lot 7 Flags SD
Tax Annual Amount
2935
HOA Fee
$693 Quarterly
Legal Description
Lot 7 Flags SD
Amenities
conference room
breakroom
training room
kitchenette
Building Details
Year built
2010
Number of units
1
Listing Agency:
Pritchett Moore Real Estate
(205) 349-6500
Listed By:
Steven Deal · License #000093505
(205) 292-9771
Added: Sep 2, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:06AM
MLS# 170684
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.
Built in 2010, this 4,200-square-foot office building occupies 0.26 acres and provides a highly configured professional workspace. The main floor includes reception, a conference room, nine private offices, four restrooms, a breakroom, and a file room. The upper level adds two offices, a training room, a kitchenette, and another bathroom. Three zoned HVAC systems support the building, while 11-foot ceilings and finished interior details define the workplace environment.
The property is located at 5690 Watermelon Road in Northport, Alabama 35473, within Tuscaloosa County. Its existing arrangement offers separate areas for client reception, private work, meetings, training, staff amenities, and records storage.
The property is located at 5690 Watermelon Road in Northport, Alabama 35473, within Tuscaloosa County. Its existing arrangement offers separate areas for client reception, private work, meetings, training, staff amenities, and records storage.
Key Highlights
- 4,200‑square‑foot office building on 0.26 acres
- Main level includes nine private offices, conference room, reception, four restrooms, breakroom, and file room
- Upper level adds two offices, training room, kitchenette, and additional bath
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
$48,649
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
4.89%
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%
$972,980
$973.0K
Cap Rate 7%
$694,986
$695.0K
Cap Rate 9%
$540,544
$540.5K
Market Conditions
NOI Build-Up for 4,200 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
$83.2K $19.80/SF
− Vacancy
−$18.3K −$4.36/SF
EGI
$64.9K $15.44/SF
− OpEx
−$16.2K −$3.86/SF
NOI
$48.6K $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%
$972,980
Cap Rate 7%
$694,986
Cap Rate 9%
$540,544
Alternative Uses
Best Use
Office B
$695.0K
$608.1K – $810.8K
NOI $48,649 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$883.1K – $1.18M
NOI $70,651 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
115
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
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Frequently Asked Questions
What type of property is this?
Office building - Two-level layout includes private offices, conference and training rooms, break areas, and three zoned HVAC systems.
Where is this office building located?
The property is located at 5690 Watermelon Road Northport, AL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 4,200‑square‑foot office building on 0.26 acres; Main level includes nine private offices, conference room, reception, four restrooms, breakroom, and file room; Upper level adds two offices, training room, kitchenette, and additional bath
