4-Unit Boaz
New
For Sale
$399,900
113 N Main Street, Boaz, AL 35957
Residential Income, Boaz, AL
Property Size6,236 SF
Lot Size0.06 Acres
Price / SF$64.13
Days on Market2
Property Features for 113 N Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi Family
Parking
10
Parking features
Parking Lot
Subdivision
Metes And Bounds
Elementary school
Boaz Elementary School
Middle school
Boaz
High school
Boaz
Directions
Hwy 168 Tr On North Main St
Standard status
Active
APN
2503062002024.000
Size
6,236 SF
Lot size
0.06 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
2
Number of units
4
Listing Agency:
South Towne Realtors, LLC
(256) 582-6900
Listed By:
Jeff Overstreet · License #64243
(256) 302-7722
Added: Sep 24
Last Checked: Sep 25 at 6:06AM
MLS# 21930071
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 6,236-square-foot quadplex contains four apartments: two with one bedroom and one bathroom, one with two bedrooms and one bathroom, and one with four bedrooms and one bathroom. All four units are occupied. The property also includes a parking lot on a 0.06-acre site.
At 113 N Main Street within Boaz city limits, the building is served by public water and public sewer.
At 113 N Main Street within Boaz city limits, the building is served by public water and public sewer.
Key Highlights
- Four apartments: two 1‑bedroom/1‑bath units, one 2‑bedroom/1‑bath unit, and one 4‑bedroom/1‑bath unit
- All four units occupied
- 6,236 square feet on a 0.06‑acre lot
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
$36,733
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
9.19%
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%
$734,660
$734.7K
Cap Rate 7%
$524,757
$524.8K
Cap Rate 9%
$408,144
$408.1K
Market Conditions
NOI Build-Up for 6,236 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
$56.1K $9.00/SF
− Vacancy
−$3.6K −$0.59/SF
EGI
$52.5K $8.42/SF
− OpEx
−$15.7K −$2.52/SF
NOI
$36.7K $5.89/SF
Area
Marshall County, AL
Vacancy
6.50%
Lease Rate
$9.00 /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%
$734,660
Cap Rate 7%
$524,757
Cap Rate 9%
$408,144
Alternative Uses
Best Use
Multifamily LT 5
$524.8K
$459.2K – $612.2K
NOI $36,733 @ 7.0% cap · market cap 9.19%
Second Best
Apartment 5plus
$482.2K
$422.0K – $562.6K
NOI $33,756 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,216 @ 7.0% cap · market cap 23.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
386
Businesses Nearby
Explore this area
Business Placement
Demographics for 35957, AL
16,849
Population
6,755
Households
2.5
Avg Household Size
36
Median Age
13%
College-Educated
85%
High-School Grad
78.3 sq mi
ZIP Area
215
Density / Sq Mi
$53,859
Median Household Income
$35,277
Median Earnings
$679
Median Rent
$142,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily 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?
Quadplex - Four occupied apartments offer a mix of one-, two-, and four-bedroom layouts.
Where is this quadplex located?
The property is located at 113 N Main Street Boaz, AL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four apartments: two 1‑bedroom/1‑bath units, one 2‑bedroom/1‑bath unit, and one 4‑bedroom/1‑bath unit; All four units occupied; 6,236 square feet on a 0.06‑acre lot
