Building Details

Year Built 1974

Listing Agency: KW Realty River Cities

Listed By: Ty Niblack · License #E294522159 Show Phone

Source: Threesixtyforsale

Added: Aug 18 Changed: Oct 13 Last Checked: Oct 14 at 8:22PM

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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 KW Realty River Cities

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Investment Insights

Based on property information with market context.

This 576-square-foot office unit includes a bathroom, storage/pantry area, and a two-bay drive-through window equipped with a vacuum tube. The property has been refreshed with new interior and partial exterior paint, painted concrete floors, updated electrical service, a new water heater, and landscaping at the drive-through area. Food-service improvements include a three-compartment sink, mop sink, grease trap, and hand-washing sink.

The property at 1000 Ingersoll Drive in Phenix City is located just off the Hwy 280 bypass. It was previously configured as a bank annex and insurance office and is now approved for a category 2 Limited Food Service establishment. The space may also accommodate office use, a car wash, or other permitted commercial applications.

Key Highlights

• 576 SF office unit with bathroom and storage/pantry area
• Two‑bay drive‑through window with vacuum tube
• Approved for a category 2 Limited Food Service establishment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$7,142

Cap Rate

5.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$142,840 $142.8K

Cap Rate 7%

$102,029 $102.0K

Cap Rate 9%

$79,356 $79.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 576 SF

Gross rent

$11.5K $20.04/SF

− Vacancy

−$2.0K −$3.51/SF

EGI

$9.5K $16.53/SF

− OpEx

−$2.4K −$4.13/SF

NOI

$7.1K $12.40/SF

Area

Lee County, AL

Vacancy

17.50%

Lease Rate

$20.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$142,840

Cap Rate 7%

$102,029

Cap Rate 9%

$79,356

Alternative Uses

Best Use

Office B

$102.0K

$89.3K – $119.0K (±1% cap)

NOI $7,142 @ 7.0% cap · market cap 5.54%

Second Best

Specialty Retail

$90.8K

$79.5K – $106.0K (±1% cap)

NOI $6,357 @ 7.0% cap · market cap 4.93%

Theoretical Best

Office A

$140.5K

$122.9K – $163.9K (±1% cap)

NOI $9,834 @ 7.0% cap · market cap 7.62%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

I Go Insurance Insurance Agency

Suggested Use

Top Pick Law Firm Real Estate Agency Skin Care Clinic (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

542

Businesses Nearby

Explore this area Business Placement

Demographics for 36867, AL

22,505

Population

10,782

Households

2.1

Avg Household Size

37

Median Age

28%

College-Educated

90%

High-School Grad

12.6 sq mi

ZIP Area

1,786

Density / Sq Mi

$46,847

Median Household Income

$36,035

Median Earnings

$963

Median Rent

$188,000

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office units - Flexible commercial space with refreshed interiors and improvements for office or limited food-service operations.

Where is this office units located?

The property is located at 1000 Ingersoll Drive Phenix City, AL.

What is the asking price?

The asking price for this property is $129,000.

What are key features of this property?

This property features: 576 SF office unit with bathroom and storage/pantry area; Two‑bay drive‑through window with vacuum tube; Approved for a category 2 Limited Food Service establishment