Medical and Office
For Sale
$447,200
1021 Woodward Ave, Muscle Shoals, AL 35661
Office building on Woodward Avenue with strong visibility and convenient access for a range of service uses.
Property Size3,440 SF
Price / SF$130
Days on Market83
Property Features for 1021 Woodward Ave
General Information
Standard status
Active
Size
3,440 SF
Taxes and HOA fees
Annual Taxes
$2,324
Listing Agency:
Pounders & Associates, Inc.
Listed By:
Justin Bishop · License #000086299
(256) 766-0998
Source:
Exprealty
Added: Jun 16
Changed: Sep 4
Last Checked: Sep 5 at 11:54AM
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 Pounders & Associates, Inc.
Investment Insights
Based on property information with market context.
This commercial property offers a versatile office building configuration and was most recently used as office space. The building is suited for a variety of commercial uses, including professional office and medical office, as well as retail, financial services, insurance, or other service-oriented businesses.
Located along Woodward Avenue, one of the Shoals area’s busiest retail and business corridors, the property benefits from visibility and exposure to high daily traffic counts. The surrounding trade area is described as including established retailers, restaurants, and local businesses serving Muscle Shoals, Sheffield, Tuscumbia, and Florence.
If you are looking for a flexible space with a history of office use in a consistently active commercial corridor, this property is positioned to support multiple professional and service categories.
Located along Woodward Avenue, one of the Shoals area’s busiest retail and business corridors, the property benefits from visibility and exposure to high daily traffic counts. The surrounding trade area is described as including established retailers, restaurants, and local businesses serving Muscle Shoals, Sheffield, Tuscumbia, and Florence.
If you are looking for a flexible space with a history of office use in a consistently active commercial corridor, this property is positioned to support multiple professional and service categories.
Key Highlights
- Commercial building along Woodward Avenue in the Shoals area.
- Most recently used as office space.
- Building described as suitable for professional office, medical office, retail, financial services, insurance, or other service‑oriented businesses.
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
$29,926
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
6.69%
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%
$598,520
$598.5K
Cap Rate 7%
$427,514
$427.5K
Cap Rate 9%
$332,511
$332.5K
Market Conditions
NOI Build-Up for 3,440 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
$55.7K $16.20/SF
− Vacancy
−$5.9K −$1.70/SF
EGI
$49.9K $14.50/SF
− OpEx
−$20.0K −$5.80/SF
NOI
$29.9K $8.70/SF
Area
Colbert County, AL
Vacancy
10.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
40.00%
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%
$598,520
Cap Rate 7%
$427,514
Cap Rate 9%
$332,511
Alternative Uses
Best Use
Healthcare Medical
$427.5K
$374.1K – $498.8K
NOI $29,926 @ 7.0% cap · market cap 6.69%
Second Best
Office B
$403.6K
$353.2K – $470.9K
NOI $28,254 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$549.3K
$480.7K – $640.9K
NOI $38,453 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
Explore this area
Business Placement
Demographics for 35661, AL
18,714
Population
8,911
Households
2.1
Avg Household Size
42
Median Age
24%
College-Educated
91%
High-School Grad
51.2 sq mi
ZIP Area
366
Density / Sq Mi
$66,726
Median Household Income
$43,826
Median Earnings
$917
Median Rent
$189,700
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 building - Office building on Woodward Avenue with strong visibility and convenient access for a range of service uses.
Where is this office building located?
The property is located at 1021 Woodward Ave Muscle Shoals, AL.
What is the asking price?
The asking price for this property is $447,200.
What are key features of this property?
This property features: Commercial building along Woodward Avenue in the Shoals area.; Most recently used as office space.; Building described as suitable for professional office, medical office, retail, financial services, insurance, or other service‑oriented businesses.
