Divisible Flex
For Sale
$459,900
111 Bangor Avenue NE, Hanceville, AL 35077
COMMERCIAL - Hanceville, AL
Property Size6,490 SF
Lot Size0.32 Acres
Price / SF$70.86
Days on Market141
Property Features for 111 Bangor Avenue NE
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Directions
South Of Hwy 31, Turn Left Towards Texaco Gas Station. Property Starts Right Behind Texaco And Circles To Front Street On Bangorave Ne.
Standard status
Active
APN
2304200005048.000
Size
6,490 SF
Lot size
0.32 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
A.H. Sothebys Int. Realty
(256) 799-9333
Listed By:
David Dahne · License #156303
(772) 285-1673
Added: Mar 26
Changed: Aug 4
Last Checked: Aug 13 at 7:06AM
MLS# 21912486
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 6,490-square-foot flex building at 111 Bangor Avenue NE includes a separate 24'X26' garage and a layout that can be configured for two businesses of more than 3,000 square feet each. The property includes two front bays, a rear bay with storage or business-use potential, and a loft within the bay area. Concrete flooring and a metal roof are in place, with construction dating to 1960.
Outdoor areas add functional flexibility. A 23' X 65' grass section at the front left may accommodate parking or outside business activity, while a 26' X 77' grass area behind the garage along Blountsville Street offers additional space for parking or business use. Public water and public sewer serve the property.
Outdoor areas add functional flexibility. A 23' X 65' grass section at the front left may accommodate parking or outside business activity, while a 26' X 77' grass area behind the garage along Blountsville Street offers additional space for parking or business use. Public water and public sewer serve the property.
Key Highlights
- 6,490 SF flex building with configuration potential for two businesses
- Separate 24'X26' garage for storage or business use
- Two front bays plus a rear bay with storage or business‑use potential
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
$34,929
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
7.59%
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%
$698,580
$698.6K
Cap Rate 7%
$498,986
$499.0K
Cap Rate 9%
$388,100
$388.1K
Market Conditions
NOI Build-Up for 6,490 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
$58.4K $9.00/SF
− Vacancy
−$4.7K −$0.72/SF
EGI
$53.7K $8.28/SF
− OpEx
−$18.8K −$2.90/SF
NOI
$34.9K $5.38/SF
Area
Cullman County, AL
Vacancy
8.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
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%
$698,580
Cap Rate 7%
$498,986
Cap Rate 9%
$388,100
Alternative Uses
Best Use
Retail
$665.9K
$582.6K – $776.9K
NOI $46,611 @ 7.0% cap · market cap 10.14%
Second Best
Flex RnD
$499.0K
$436.6K – $582.2K
NOI $34,929 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$956.8K
$837.2K – $1.12M
NOI $66,977 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35077, AL
13,813
Population
6,045
Households
2.3
Avg Household Size
42
Median Age
14%
College-Educated
79%
High-School Grad
150.2 sq mi
ZIP Area
92
Density / Sq Mi
$47,720
Median Household Income
$29,221
Median Earnings
$822
Median Rent
$157,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flexible interior arrangement supports separate operations, with a separate garage and additional areas for parking or outdoor business use.
Where is this flex space located?
The property is located at 111 Bangor Avenue NE Hanceville, AL.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 6,490 SF flex building with configuration potential for two businesses; Separate 24'X26' garage for storage or business use; Two front bays plus a rear bay with storage or business‑use potential
