Flex Building With Separate
For Sale
$459,900
111 Bangor Avenue NE, Hanceville, AL 35077
Business Opportunity, Hanceville, AL
Property Size6,490 SF
Lot Size0.32 Acres
Price / SF$70.86
Days on Market47
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: Aug 31
Changed: Oct 6
Last Checked: Oct 16 at 12:06AM
MLS# 21912486
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Investment Insights
Based on property information with market context.
This 6,490-square-foot flex building includes a separate 24-by-26-foot garage and an interior arrangement that can support two commercial operations of more than 3,000 square feet each. The property also includes a loft over the bay area, a storage or work area behind the two front bays, and a bathroom. Concrete flooring and a metal roof are in place, with the building dating to 1960.
Outdoor areas add functional flexibility. A 23-by-65-foot grass section at the front can accommodate parking or exterior business activity, while the rear of the garage includes a 26-by-77-foot grass area along Blountsville Street that can serve similar purposes. Public water and public sewer support the site.
Outdoor areas add functional flexibility. A 23-by-65-foot grass section at the front can accommodate parking or exterior business activity, while the rear of the garage includes a 26-by-77-foot grass area along Blountsville Street that can serve similar purposes. Public water and public sewer support the site.
Key Highlights
- 6,490 SF flex building with a layout that can be divided into two businesses exceeding 3,000 SF each
- Separate 24'X26' garage suitable for storage or business use
- 23' X 65' front grass area and 26' X 77' rear grass area for parking or outside business use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,929
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
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
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 Rate 5%
$698,580
Cap Rate 7%
$498,986
Cap Rate 9%
$388,100
Alternative Uses
Best Use
Flex RnD
$499.0K
$436.6K – $582.2K
NOI $34,929 @ 7.0% cap · market cap 7.59%
Second Best
Warehouse
$391.5K
$342.6K – $456.8K
NOI $27,406 @ 7.0% cap · market cap 5.96%
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.
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial building with a divisible layout, concrete flooring, public utilities, and additional storage or work areas.
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 a layout that can be divided into two businesses exceeding 3,000 SF each; Separate 24'X26' garage suitable for storage or business use; 23' X 65' front grass area and 26' X 77' rear grass area for parking or outside business use
