Multi-Tenant Shopping
New
For Sale
$3,000,000
100 Elizabeth Street, Boaz, AL 35957
Occupied commercial property with a diversified tenant configuration and established leasing activity.
Property Size37,500 SF
Price / SF$80
Days on Market7
Property Features for 100 Elizabeth Street
General Information
Standard status
Active
Size
37,500 SF
Property subtype
Business Opportunity
Additional Details
Gross Income
$398,400
Building Details
Year Built
1985
Tenancy
Multi
Listing Agency:
Main Street Realty Plus, LLC
(256) 630-1918
Listed By:
Gabe Henderson · License #HG10715
Source:
Homeslegend
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 29 at 6:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Main Street Realty Plus, LLC
Investment Insights
Based on property information with market context.
This 37,500±-square-foot shopping center at 100 Elizabeth Street in Boaz, Alabama, is configured for multiple commercial occupants. The building was constructed in 1985 and is currently occupied by six tenants, providing an established operating structure within the property.
The multi-tenant format supports separate leasing arrangements across the building and offers flexibility for continued commercial occupancy. Its substantial size and existing tenant base make the property suitable for buyers seeking an operating retail asset with multiple occupant spaces.
The multi-tenant format supports separate leasing arrangements across the building and offers flexibility for continued commercial occupancy. Its substantial size and existing tenant base make the property suitable for buyers seeking an operating retail asset with multiple occupant spaces.
Key Highlights
- 37,500± SF commercial shopping center
- Currently occupied by six tenants
- Multi‑tenant configuration with separate occupant spaces
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
$239,227
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%
$4,784,540
$4.8M
Cap Rate 7%
$3,417,529
$3.4M
Cap Rate 9%
$2,658,078
$2.7M
Market Conditions
NOI Build-Up for 37,500 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
$373.5K $9.96/SF
− Vacancy
−$31.7K −$0.85/SF
EGI
$341.8K $9.11/SF
− OpEx
−$102.5K −$2.73/SF
NOI
$239.2K $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%
$4,784,540
Cap Rate 7%
$3,417,529
Cap Rate 9%
$2,658,078
Alternative Uses
Best Use
Retail
$3.42M
$2.99M – $3.99M
NOI $239,227 @ 7.0% cap · market cap 7.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.09M
$7.08M – $9.44M
NOI $566,568 @ 7.0% cap · market cap 18.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
18k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Taco Bell
Dining
17,880 visits/mo
0.5 miles
Demographics for 35957, AL
16,849
Population
6,755
Households
2.5
Avg Household Size
36
Median Age
13%
College-Educated
85%
High-School Grad
78.3 sq mi
ZIP Area
215
Density / Sq Mi
$53,859
Median Household Income
$35,277
Median Earnings
$679
Median Rent
$142,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Piper Station Shopping Center — S McCleskey St, Boaz, AL 35957
- South candel — 100 Elizabeth St, Boaz, AL 35957, United States
- The mason jar — 10565 AL-168, Boaz, AL 35957
Frequently Asked Questions
What type of property is this?
Shopping center - Occupied commercial property with a diversified tenant configuration and established leasing activity.
Where is this shopping center located?
The property is located at 100 Elizabeth Street Boaz, AL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 37,500± SF commercial shopping center; Currently occupied by six tenants; Multi‑tenant configuration with separate occupant spaces
