Office Unit with Private
For Sale
$289,000
100 Spurlock Street, Rainbow City, AL 35906
Configured with reception, waiting, break, and private office areas.
Property Size1,740 SF
Price / SF$166.09
Days on Market9
Property Features for 100 Spurlock Street
General Information
Standard status
Active
Size
1,740 SF
Property subtype
Commercial
Building Details
Building Size
1,740 SF
Buildings
1
Stories
1
Listing Agency:
Clokey Realty Inc
(256) 442-1000
Listed By:
Amelia Phillips · License #176709
Source:
Alabamaland
Added: Aug 14
Changed: Aug 22
Last Checked: Aug 22 at 6:31AM
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 Clokey Realty Inc
Investment Insights
Based on property information with market context.
This 1,740-square-foot office building contains eight rooms arranged for professional business operations. The interior includes a waiting room, reception area, break room, and four private offices, creating a defined layout for an owner-occupied business or commercial investment.
The property is located at 100 Spurlock Street in Rainbow City, Alabama, just off Rainbow Drive. Uses identified for the space include an insurance office, boutique, nail salon, professional office, or other business applications. The existing room configuration provides dedicated areas for client reception, private work, and staff support.
The property is located at 100 Spurlock Street in Rainbow City, Alabama, just off Rainbow Drive. Uses identified for the space include an insurance office, boutique, nail salon, professional office, or other business applications. The existing room configuration provides dedicated areas for client reception, private work, and staff support.
Key Highlights
- 1,740‑square‑foot office building
- Eight‑room interior layout
- Four private offices included
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
$11,238
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
3.89%
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%
$224,760
$224.8K
Cap Rate 7%
$160,543
$160.5K
Cap Rate 9%
$124,867
$124.9K
Market Conditions
NOI Build-Up for 1,740 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
$19.2K $11.04/SF
− Vacancy
−$4.2K −$2.43/SF
EGI
$15.0K $8.61/SF
− OpEx
−$3.7K −$2.15/SF
NOI
$11.2K $6.46/SF
Area
Etowah County, AL
Vacancy
22.00%
Lease Rate
$11.04 /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%
$224,760
Cap Rate 7%
$160,543
Cap Rate 9%
$124,867
Alternative Uses
Best Use
Office B
$160.5K
$140.5K – $187.3K
NOI $11,238 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$284.5K
$248.9K – $331.9K
NOI $19,915 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 35906, AL
10,444
Population
4,743
Households
2.2
Avg Household Size
42
Median Age
22%
College-Educated
85%
High-School Grad
35.0 sq mi
ZIP Area
298
Density / Sq Mi
$58,896
Median Household Income
$41,701
Median Earnings
$998
Median Rent
$199,500
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 units - Configured with reception, waiting, break, and private office areas.
Where is this office units located?
The property is located at 100 Spurlock Street Rainbow City, AL.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 1,740‑square‑foot office building; Eight‑room interior layout; Four private offices included
