Renovated Medical Office
For Sale
$680,000
7010 Fulton Court, Montgomery, AL 36117
CommercialSale, Montgomery, AL
Property Size4,897 SF
Price / SF$138.86
Days on Market297
Property Features for 7010 Fulton Court
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
O-1
Parking
32
Lot features
City Lot
Middle school
,
Directions
Take Taylor Road to Halcyon Park Drive to Old Federal then to Fulton Court
Subdivision
MONT-E Mont County
Standard status
Active
APN
09-08-28-2-000-111.000
Size
4,897 SF
Taxes and HOA fees
Tax Description
OLD FEDERAL OFFICE PARK 2 LOT 12 BLK A PLAT BK 44 PG 126
Tax Annual Amount
3197
Legal Description
OLD FEDERAL OFFICE PARK 2 LOT 12 BLK A PLAT BK 44 PG 126
Building Details
Year built
1999
Floors in Building
1
Building materials
BrickVeneer, WoodSiding
Listing Agency:
RE/MAX Tri-Star · RE/MAX International
(334) 244-2400
Listed By:
Marie Scarborough · License #0033792
(334) 323-1142
Added: Nov 13, 2025
Changed: Aug 19
Last Checked: Sep 6 at 1:06AM
MLS# 581592
Copyright © 2026 Montgomery Area Association of Realtors MLS. 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 4,897-square-foot medical office property is arranged for multiple occupants and currently operates as a duplex, with the ability to function as three separate spaces. Interior updates include new LVP flooring and fresh paint throughout, complemented by a new roof and awnings. Each unit is equipped with A/C; three systems were replaced in 2020. Unit 7006 and Unit 7008 also feature retrofit LED lighting, while Unit 7010 received a replacement retrofit light fixture and emergency lighting.
The property includes a parking lot sized for 30 plus vehicles and is located at 7010 Fulton Court in Montgomery, Alabama. Built in 1999, the building combines a multi-suite medical office configuration with recent exterior and interior improvements.
The property includes a parking lot sized for 30 plus vehicles and is located at 7010 Fulton Court in Montgomery, Alabama. Built in 1999, the building combines a multi-suite medical office configuration with recent exterior and interior improvements.
Key Highlights
- 4,897‑square‑foot medical office building
- Currently configured as a duplex with the ability to provide three spaces
- New roof, awnings, LVP flooring, and interior paint
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
$54,210
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
7.97%
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%
$1,084,200
$1.1M
Cap Rate 7%
$774,429
$774.4K
Cap Rate 9%
$602,333
$602.3K
Market Conditions
NOI Build-Up for 4,897 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
$88.1K $18.00/SF
− Vacancy
−$15.9K −$3.24/SF
EGI
$72.3K $14.76/SF
− OpEx
−$18.1K −$3.69/SF
NOI
$54.2K $11.07/SF
Area
Montgomery, AL
Vacancy
18.00%
Lease Rate
$18.00 /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%
$1,084,200
Cap Rate 7%
$774,429
Cap Rate 9%
$602,333
Alternative Uses
Best Use
Office B
$774.4K
$677.6K – $903.5K
NOI $54,210 @ 7.0% cap · market cap 7.97%
Second Best
Healthcare Medical
$770.6K
$674.3K – $899.1K
NOI $53,945 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$1.02M
$888.5K – $1.18M
NOI $71,081 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,138
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36117, AL
53,172
Population
24,181
Households
2.2
Avg Household Size
38
Median Age
46%
College-Educated
94%
High-School Grad
53.3 sq mi
ZIP Area
998
Density / Sq Mi
$72,237
Median Household Income
$44,980
Median Earnings
$1,209
Median Rent
$225,900
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.
Similar Off Market Nearby
- Veterinary Medical Exam Board — 8100 Seaton Pl Suite A, Montgomery, AL 36116
- Your Veterinarian in Montgomery, AL Call us at 334-277-1101 — 8424 Vaughn Rd, Montgomery, AL 36117
- EAST MONTGOMERY ANIMAL HOSPITAL — 8424 vaughn rd, montgomery, al 36117
- Vaughn Road Veterinary Clinic: Simmons Holladay DVM — 7861 Vaughn Rd, Montgomery, AL 36116
- Vaughn Road Veterinary Clinic: Millis George A DVM — 7861 Vaughn Rd, Montgomery, AL 36116
Frequently Asked Questions
What type of property is this?
Medical Office Space - Multi-tenant layout currently configured as a duplex with ample on-site parking.
Where is this medical office space located?
The property is located at 7010 Fulton Court Montgomery, AL.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: 4,897‑square‑foot medical office building; Currently configured as a duplex with the ability to provide three spaces; New roof, awnings, LVP flooring, and interior paint
