Restaurant Property with Smoker
For Sale
$319,000
105 County Road 89, Fort Payne, AL 35967
Business Opportunity, Fort Payne, AL
Property Size2,816 SF
Lot Size0.56 Acres
Price / SF$113.28
Days on Market192
Property Features for 105 County Road 89
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Parking Lot
Exterior features
Lighting
Subdivision
Metes And Bounds
Lot features
High Visibility
Directions
From Fort Payne- Turn Right At Five Points On To County Road 89 Towards Dogtown. Property Is On Right Before You Get To The 89/176 Intersection Where Dogtown Furniture Is At.
Standard status
Active
APN
2603070000010.003
Size
2,816 SF
Lot size
0.56 Acres
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
spacious office
large walk-in cooler
dedicated smoker room with double-door smoker
Building Details
Floors in Building
1
Flooring type
Wood, Concrete
Listing Agency:
Leading Edge Decatur
(256) 489-2602
Listed By:
Kayla Baugh · License #129300
(256) 744-1159
Added: Mar 4
Changed: Sep 7
Last Checked: Sep 12 at 5:06AM
MLS# 21892413
Copyright © 2026 ValleyMLS.Com,Inc. 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 restaurant property at 105 County Road 89 in Fort Payne includes 2,816 square feet of interior space on a 0.56-acre parcel. The layout features an office, large walk-in cooler, dedicated smoker room with a double-door smoker, and two bathrooms. Concrete and wood flooring, central heating, central air, lighting, and a parking lot are in place. Restaurant equipment may also be included as part of the transaction.
The property is served by public water and a septic tank. Its existing configuration supports restaurant or catering operations, with the physical improvements centered on food preparation, storage, and service functions.
The property is served by public water and a septic tank. Its existing configuration supports restaurant or catering operations, with the physical improvements centered on food preparation, storage, and service functions.
Key Highlights
- 2,816‑square‑foot restaurant property on 0.56 acres
- Dedicated smoker room with double‑door smoker
- Large walk‑in cooler and office 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
$9,388
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
2.94%
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%
$187,760
$187.8K
Cap Rate 7%
$134,114
$134.1K
Cap Rate 9%
$104,311
$104.3K
Market Conditions
NOI Build-Up for 2,816 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
$14.2K $5.04/SF
− Vacancy
−$781 −$0.28/SF
EGI
$13.4K $4.76/SF
− OpEx
−$4.0K −$1.43/SF
NOI
$9.4K $3.33/SF
Area
DeKalb County, AL
Vacancy
5.50%
Lease Rate
$5.04 /SF/Yr
Expense Ratio
30.00%
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%
$187,760
Cap Rate 7%
$134,114
Cap Rate 9%
$104,311
Alternative Uses
Best Use
Specialty Retail
$444.0K
$388.5K – $518.0K
NOI $31,078 @ 7.0% cap · market cap 9.74%
Second Best
Industrial
$134.1K
$117.4K – $156.5K
NOI $9,388 @ 7.0% cap · market cap 2.94%
Theoretical Best
Healthcare Medical
$453.7K
$397.0K – $529.3K
NOI $31,756 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35967, AL
17,233
Population
7,825
Households
2.2
Avg Household Size
37
Median Age
16%
College-Educated
81%
High-School Grad
127.0 sq mi
ZIP Area
136
Density / Sq Mi
$48,125
Median Household Income
$32,051
Median Earnings
$678
Median Rent
$155,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant facility with office, walk-in cooler, smoker room, central HVAC, and on-site parking.
Where is this conventional restaurant located?
The property is located at 105 County Road 89 Fort Payne, AL.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: 2,816‑square‑foot restaurant property on 0.56 acres; Dedicated smoker room with double‑door smoker; Large walk‑in cooler and office included
