Class A Office
For Sale
$925,000
Pending
114 Medical Center Drive, Prattville, AL 36066
Class A office building with long-term tenant and flexible layout.
Property Size4,815 SF
Days on Market202
Property Features for 114 Medical Center Drive
General Information
Standard status
Pending
Size
4,815 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
2018
Listing Agency:
Norluxe Realty Montgomery
(205) 440-2088
Listed By:
Jaquon Robinson · License #0145018
(205) 440-2088
Source:
Exitrealty
Added: Feb 10
Changed: Aug 8
Last Checked: Jul 23 at 8:52AM
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 Norluxe Realty Montgomery
Investment Insights
Based on property information with market context.
This Class A commercial property features a sustained tenant on year one of a ten-year lease. The structure is I-beam construction with no load-bearing walls, allowing for flexible configuration to suit various applications. The current layout includes approximately 14 smaller offices, 2 executive-style offices, multiple conference room spaces, and multiple storage areas. There are 4 restrooms, including two specifically designed for children. The property is zoned B-2 and benefits from high traffic counts of over 17,000 vehicles per day. The building has a total area of 4,815 square feet and is located in an area with strong growth potential. It is suitable for a variety of business uses.
Key Highlights
- Sustained tenant in place on year one of a ten‑year lease, providing immediate income.
- Flexible I‑beam construction with no load‑bearing walls allows for customizable interior configurations.
- Excellent location with strong growth potential and high traffic counts (17k+ per day).
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
$53,302
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
5.76%
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%
$1,066,040
$1.1M
Cap Rate 7%
$761,457
$761.5K
Cap Rate 9%
$592,244
$592.2K
Market Conditions
NOI Build-Up for 4,815 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
$86.7K $18.00/SF
− Vacancy
−$15.6K −$3.24/SF
EGI
$71.1K $14.76/SF
− OpEx
−$17.8K −$3.69/SF
NOI
$53.3K $11.07/SF
Area
Autauga County, AL
Vacancy
18.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,066,040
Cap Rate 7%
$761,457
Cap Rate 9%
$592,244
Alternative Uses
Best Use
Office B
$761.5K
$666.3K – $888.4K
NOI $53,302 @ 7.0% cap · market cap 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$998.4K
$873.6K – $1.16M
NOI $69,891 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Explore this area
Business Placement
Demographics for 36066, AL
22,206
Population
9,201
Households
2.4
Avg Household Size
37
Median Age
45%
College-Educated
95%
High-School Grad
20.1 sq mi
ZIP Area
1,105
Density / Sq Mi
$80,364
Median Household Income
$47,110
Median Earnings
$1,300
Median Rent
$220,900
Median Home Value
Market
Vacancy Rate% for Office 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?
Office units - Class A office building with long-term tenant and flexible layout.
Where is this office units located?
The property is located at 114 Medical Center Drive Prattville, AL.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Sustained tenant in place on year one of a ten‑year lease, providing immediate income.; Flexible I‑beam construction with no load‑bearing walls allows for customizable interior configurations.; Excellent location with strong growth potential and high traffic counts (17k+ per day).
