Drive-Through Restaurant
New
For Sale
$135,000
1000 Ingersoll Drive, Phenix City, AL 36867
COMMERCIAL - Phenix City, AL
Property Size576 SF
Lot Size0.23 Acres
Price / SF$234.38
Days on Market1
Property Features for 1000 Ingersoll Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
6
Exterior features
Paved
Lot features
Curbs, Street Lights, Corner Lot, Free Standing
Directions
From Us-80/280 Intersection: Take Us Hwy 280 East Toward Columbus, Turn Left On 11th Street, With An Immediate Right On 280 Bypass Service Road. Turn Left On Ingersoll Drive, Property Is The 1st Building On The Right.
Subdivision
Alabama-01
Standard status
Active
APN
505150300100400
Size
576 SF
Lot size
0.23 Acres
Utilities
Utilities
Water Available
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
1974
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Block, Stucco
Roof type
Asphalt
Listing Agency:
Keller Williams Realty River Cities
(706) 221-6900
Listed By:
Ty Niblack · License #000133037
(706) 577-1776
Added: Aug 16
Last Checked: Aug 16 at 1:06PM
MLS# 233630
Copyright © 2026 Columbus Board of Realtors (GA). 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 576-square-foot block and stucco commercial building includes office space, a bathroom, storage/pantry area, and a two-bay drive-through window system with vacuum tube. The property has been updated with fresh interior and exterior paint, refinished concrete floors, electrical improvements, and a new water heater. Food-service infrastructure includes a three-compartment sink, mop sink, grease trap, and hand-washing sink, and the space is approved for a category 2 Limited Food Service establishment.
The paved property sits on 0.2266 acres at 1000 Ingersoll Drive in Phenix City, just off the Hwy 280 bypass. Built in 1974, the building also features central air, electric heating and cooling, available water service, and an asphalt roof. Its prior use as a bank annex and insurance office provides additional context for the existing office configuration.
The paved property sits on 0.2266 acres at 1000 Ingersoll Drive in Phenix City, just off the Hwy 280 bypass. Built in 1974, the building also features central air, electric heating and cooling, available water service, and an asphalt roof. Its prior use as a bank annex and insurance office provides additional context for the existing office configuration.
Key Highlights
- 576 sq. ft. building on 0.2266 acres
- Approved for category 2 Limited Food Service
- Two‑bay drive‑through window with vacuum tube
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
$7,142
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
5.29%
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%
$142,840
$142.8K
Cap Rate 7%
$102,029
$102.0K
Cap Rate 9%
$79,356
$79.4K
Market Conditions
NOI Build-Up for 576 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
$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 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%
$142,840
Cap Rate 7%
$102,029
Cap Rate 9%
$79,356
Alternative Uses
Best Use
Office B
$102.0K
$89.3K – $119.0K
NOI $7,142 @ 7.0% cap · market cap 5.29%
Second Best
Specialty Retail
$90.8K
$79.5K – $106.0K
NOI $6,357 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$140.5K
$122.9K – $163.9K
NOI $9,834 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Grease trap
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Updated commercial building with limited food-service approval, office area, and dual drive-through service windows.
Where is this drive through restaurant located?
The property is located at 1000 Ingersoll Drive Phenix City, AL.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: 576 sq. ft. building on 0.2266 acres; Approved for category 2 Limited Food Service; Two‑bay drive‑through window with vacuum tube
