Medical Office and Rehabilitation
For Sale
$1,060,000
105 SE Second Ave, Cullman, AL 35055
Healthcare facility located on SE Second Ave across from Sacred Heart Church.
Property Size10,124 SF
Price / SF$104.70
Days on Market47
Property Features for 105 SE Second Ave
General Information
Standard status
Active
Size
10,124 SF
Total Parking Spaces
3
Zoning
CBD
Taxes and HOA fees
Annual Taxes
$5,406
Amenities
Central Air
Elevator, Entrance Foyer, Storage
City
Additional Parking, On Street
Building Details
Building Size
10,124 SF
Year Built
2002
Buildings
1
Stories
2
Listing Agency:
Culpepper Real Estate
Listed By:
Lauren Roden · License #168392
(731) 499-1377
Source:
Evrealestate
Added: Jul 28
Changed: Sep 11
Last Checked: Sep 12 at 5:22AM
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 Culpepper Real Estate
Investment Insights
Based on property information with market context.
105 SE Second Ave, Cullman, AL 35055 is a for-sale healthcare property that includes medical office and rehabilitation center use. The property is listed at 10,124 square feet.
Directions: From CAR, take 278E to 2nd avenue and turn left. The property is on the left across from Sacred Heart Church.
This facility is best suited for organizations seeking a combined medical office and rehabilitation center setting in a straightforward, accessible storefront-style location.
Directions: From CAR, take 278E to 2nd avenue and turn left. The property is on the left across from Sacred Heart Church.
This facility is best suited for organizations seeking a combined medical office and rehabilitation center setting in a straightforward, accessible storefront-style location.
Key Highlights
- Healthcare facility located on SE Second Ave across from Sacred Heart Church
- Year built: 2002
- Central air cooling
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
$88,073
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
8.31%
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%
$1,761,460
$1.8M
Cap Rate 7%
$1,258,186
$1.3M
Cap Rate 9%
$978,589
$978.6K
Market Conditions
NOI Build-Up for 10,124 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
$164.0K $16.20/SF
− Vacancy
−$17.2K −$1.70/SF
EGI
$146.8K $14.50/SF
− OpEx
−$58.7K −$5.80/SF
NOI
$88.1K $8.70/SF
Area
Cullman 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%
$1,761,460
Cap Rate 7%
$1,258,186
Cap Rate 9%
$978,589
Alternative Uses
Best Use
Healthcare Medical
$1.26M
$1.10M – $1.47M
NOI $88,073 @ 7.0% cap · market cap 8.31%
Second Best
Office B
$1.15M
$1.00M – $1.34M
NOI $80,364 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,480 @ 7.0% cap · market cap 9.86%
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
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 35055, AL
22,299
Population
10,664
Households
2.1
Avg Household Size
39
Median Age
26%
College-Educated
88%
High-School Grad
63.8 sq mi
ZIP Area
350
Density / Sq Mi
$58,488
Median Household Income
$40,079
Median Earnings
$934
Median Rent
$195,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Rehabilitation center - Healthcare facility located on SE Second Ave across from Sacred Heart Church.
Where is this rehabilitation center located?
The property is located at 105 SE Second Ave Cullman, AL.
What is the asking price?
The asking price for this property is $1,060,000.
What are key features of this property?
This property features: Healthcare facility located on SE Second Ave across from Sacred Heart Church; Year built: 2002; Central air cooling
