Mixed-Use Property with
New
For Sale
$419,900
704 Miller Street, Albertville, AL 35950
Business Opportunity, Albertville, AL
Property Size3,600 SF
Lot Size0.33 Acres
Price / SF$116.64
Days on Market2
Property Features for 704 Miller Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Directions
Hwy 431 Make Right On Miller Street
Standard status
Active
Size
3,600 SF
Lot size
0.33 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
three private offices
spacious showroom
large display windows
drinking fountain
two restrooms
wraparound paved drive
Building Details
Year built
2007
Floors in Building
1
Flooring type
Carpet
Listing Agency:
Main Street Realty Plus, LLC
(256) 400-1335
Listed By:
Tania DiPrima · License #77005
(256) 302-9028
Added: Sep 11
Last Checked: Sep 11 at 11:06PM
MLS# 21928958
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Investment Insights
Based on property information with market context.
This 3,600-square-foot mixed-use commercial property, built in 2007, provides a practical layout for retail or professional office operations. The interior includes three private offices, a showroom, large display windows, a drinking fountain, two restrooms, and carpet flooring. Public water and public sewer serve the property.
The 0.33-acre site is located at 704 Miller Street in Albertville, Alabama, across US-431 from a new hotel development and Buffalo Wild Wings. A wraparound paved drive supports circulation around the building, while 10 on-site parking spaces serve customers and staff.
The 0.33-acre site is located at 704 Miller Street in Albertville, Alabama, across US-431 from a new hotel development and Buffalo Wild Wings. A wraparound paved drive supports circulation around the building, while 10 on-site parking spaces serve customers and staff.
Key Highlights
- 3,600 square feet on a 0.33‑acre site
- Three private offices plus showroom space
- Large display windows and drinking fountain
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
$22,966
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
5.47%
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%
$459,320
$459.3K
Cap Rate 7%
$328,086
$328.1K
Cap Rate 9%
$255,178
$255.2K
Market Conditions
NOI Build-Up for 3,600 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
$35.9K $9.96/SF
− Vacancy
−$3.0K −$0.85/SF
EGI
$32.8K $9.11/SF
− OpEx
−$9.8K −$2.73/SF
NOI
$23.0K $6.38/SF
Area
Marshall County, AL
Vacancy
8.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
30.00%
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%
$459,320
Cap Rate 7%
$328,086
Cap Rate 9%
$255,178
Alternative Uses
Best Use
Retail
$328.1K
$287.1K – $382.8K
NOI $22,966 @ 7.0% cap · market cap 5.47%
Second Best
Mixed Use
$288.1K
$252.1K – $336.2K
NOI $20,169 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$777.0K
$679.9K – $906.5K
NOI $54,391 @ 7.0% cap · market cap 12.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
762
Businesses Nearby
470k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 28%
Apparel 19%
Groceries 13%
Food City
Groceries
48,575 visits/mo
0.2 miles
T.J. Maxx
Apparel
43,893 visits/mo
0.4 miles
Hobby Lobby
Shops & Services
38,027 visits/mo
0.3 miles
McDonald's
Dining
36,196 visits/mo
0.3 miles
Five Below
Shops & Services
31,932 visits/mo
0.2 miles
Demographics for 35950, AL
22,239
Population
7,762
Households
2.9
Avg Household Size
33
Median Age
19%
College-Educated
79%
High-School Grad
43.2 sq mi
ZIP Area
515
Density / Sq Mi
$56,457
Median Household Income
$35,450
Median Earnings
$808
Median Rent
$149,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial layout with display windows, paved circulation, and on-site parking supports retail or professional office use.
Where is this mixed-use property located?
The property is located at 704 Miller Street Albertville, AL.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: 3,600 square feet on a 0.33‑acre site; Three private offices plus showroom space; Large display windows and drinking fountain
