Storefront Property With
For Sale
Contact for pricing
1011 Forrest Ave, Gadsden, AL 35901
Two-story commercial building with dedicated upper-level office space and an existing drive-through configuration.
Property Size8,400 SF
Price / SF$92.26
Days on Market143
Property Features for 1011 Forrest Ave
General Information
Standard status
Active
Size
8,400 SF
Property subtype
Office, Retail
Additional Details
Drive-Thru
Yes
Building Details
Year Built
2009
Buildings
1
Stories
2
Listing Agency:
The Retail Companies
(205) 823-3070
Listed By:
Bill Clements · License #AL 75945
Source:
Crexi
Added: Apr 10
Changed: Aug 30
Last Checked: Aug 30 at 1:04AM
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 The Retail Companies
Investment Insights
Based on property information with market context.
This two-story storefront property contains 8,400 SF of commercial building area, with a dedicated office component on the upper level. Constructed in 2009, the building offers an established layout combining customer-facing space with separate administrative space. An existing drive-through configuration is incorporated into the property, supporting consideration for quick-service food, coffee, pharmacy, or service retail operations.
The property is located at 1011 Forrest Ave in Gadsden, Alabama, along Forrest Avenue’s primary commercial corridor. Its position provides visibility from the avenue and places the building within an established commercial setting. The combination of storefront space, upper-floor offices, and drive-through infrastructure creates a flexible physical configuration for an owner-user or commercial operator.
The property is located at 1011 Forrest Ave in Gadsden, Alabama, along Forrest Avenue’s primary commercial corridor. Its position provides visibility from the avenue and places the building within an established commercial setting. The combination of storefront space, upper-floor offices, and drive-through infrastructure creates a flexible physical configuration for an owner-user or commercial operator.
Key Highlights
- 8,400 SF two‑story storefront building
- Existing drive‑through configuration
- Dedicated office space on the upper level
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
$54,251
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
7.00%
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%
$1,085,020
$1.1M
Cap Rate 7%
$775,014
$775.0K
Cap Rate 9%
$602,789
$602.8K
Market Conditions
NOI Build-Up for 8,400 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
$92.7K $11.04/SF
− Vacancy
−$20.4K −$2.43/SF
EGI
$72.3K $8.61/SF
− OpEx
−$18.1K −$2.15/SF
NOI
$54.3K $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%
$1,085,020
Cap Rate 7%
$775,014
Cap Rate 9%
$602,789
Alternative Uses
Best Use
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $96,141 @ 7.0% cap · market cap 12.41%
Second Best
Retail
$1.11M
$970.2K – $1.29M
NOI $77,616 @ 7.0% cap · market cap 10.01%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,169
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35901, AL
18,671
Population
9,075
Households
2.1
Avg Household Size
43
Median Age
22%
College-Educated
85%
High-School Grad
59.2 sq mi
ZIP Area
315
Density / Sq Mi
$47,826
Median Household Income
$30,212
Median Earnings
$747
Median Rent
$174,200
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?
Storefront property - Two-story commercial building with dedicated upper-level office space and an existing drive-through configuration.
Where is this storefront property located?
The property is located at 1011 Forrest Ave Gadsden, AL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 8,400 SF two‑story storefront building; Existing drive‑through configuration; Dedicated office space on the upper level
