Elkmont Land with Red Iron
For Sale
$124,900
1 Nelson Road, Elkmont, AL 35620
LAND - Elkmont, AL
Property Size1,200 SF
Lot Size0.50 Acres
Price / SF$104.08
Days on Market183
Property Features for 1 Nelson Road
General Information
Property type
Land
Property subtype
Other
Subdivision
Metes And Bounds
Elementary school
Sugar Creek
Middle school
West Limestone
High school
West Limestone
Directions
Take Al Highway 99 Out Of Athens. Turn Right Onto Nelson Road. Property Is On The Right.
Standard status
Active
APN
0605160000016000
Size
1,200 SF
Lot size
0.50 Acres
Utilities
Sewer type
Septic Tank
Water source
Public
Listing Agency:
Smith Realty & Auction
(256) 444-0502
Listed By:
Cody Smith · License #110514
(256) 497-6689
Added: Feb 11
Changed: May 14
Last Checked: Aug 13 at 11:06AM
MLS# 21909640
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 property features a 30x40 red iron building situated on a 0.5-acre lot. The site benefits from 120 feet of road frontage and includes a driveway, an electric meter, and a septic tank. The building itself contains a bathroom and a loft. There is ample space on the property to construct a house, offering the potential to convert the existing structure into a residential dwelling. The property is located in Elkmont, Alabama.
Key Highlights
- 30x40 red iron building with bathroom and loft
- 1/2 acre lot with 120' of road frontage
- Septic tank already installed
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
$6,034
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
4.83%
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%
$120,680
$120.7K
Cap Rate 7%
$86,200
$86.2K
Cap Rate 9%
$67,044
$67.0K
Market Conditions
NOI Build-Up for 1,200 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
$7.5K $6.24/SF
− Vacancy
−$389 −$0.32/SF
EGI
$7.1K $5.92/SF
− OpEx
−$1.1K −$0.89/SF
NOI
$6.0K $5.03/SF
Area
Limestone County, AL
Vacancy
5.20%
Lease Rate
$6.24 /SF/Yr
Expense Ratio
15.00%
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%
$120,680
Cap Rate 7%
$86,200
Cap Rate 9%
$67,044
Alternative Uses
Best Use
Warehouse
$86.2K
$75.4K – $100.6K
NOI $6,034 @ 7.0% cap · market cap 4.83%
Second Best
Industrial
$68.0K
$59.5K – $79.4K
NOI $4,763 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$312.5K
$273.4K – $364.6K
NOI $21,874 @ 7.0% cap · market cap 17.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35620, AL
9,592
Population
4,358
Households
2.2
Avg Household Size
40
Median Age
14%
College-Educated
91%
High-School Grad
107.6 sq mi
ZIP Area
89
Density / Sq Mi
$82,511
Median Household Income
$46,907
Median Earnings
$903
Median Rent
$190,800
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Warehouse - Half-acre lot with building, utilities, and road frontage.
Where is this warehouse located?
The property is located at 1 Nelson Road Elkmont, AL.
What is the asking price?
The asking price for this property is $124,900.
What are key features of this property?
This property features: 30x40 red iron building with bathroom and loft; 1/2 acre lot with 120' of road frontage; Septic tank already installed
