Building Details

Year Built 1905

Year Renovated 2012

Buildings 1

Stories 2

Listing Agency: Russ Russell Commercial Real Estate

Listed By: Russ Russell · License #AL000025965-1 Show Phone

Source: Crexi

Added: May 5, 2025 Changed: Oct 6 Last Checked: Oct 16 at 6:28AM

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Investment Insights

Based on property information with market context.

This 4,124 square foot property offers a blend of work and living spaces, situated on 4.69 acres. Zoned county, the property presents opportunities for various uses, including a wedding venue, photography studio, bed and breakfast, or professional business. The historic house has been remodeled and expanded, combining traditional elegance with modern comfort. It features 4 bedrooms, 4 bathrooms, and a game room. The layout allows for using the main floor as a work environment while residing on the second floor, or operating a bed and breakfast. A screened porch accessible from the eating area provides a space to enjoy the surrounding landscaping. The property is located 1.2 miles from the Madison County Executive Airport. Additional land is available for sale by the owner.

Key Highlights

• Zoned for diverse work/live opportunities (wedding venue, studio, B&B, business) on 4.69 acres.
• Recently remodeled and expanded 4,124SF historic house blending modern comfort with historic elegance.
• Features 4 bedrooms, 4 bathrooms, and a game room.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$52,686

Cap Rate

5.89%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,053,720 $1.1M

Cap Rate 7%

$752,657 $752.7K

Cap Rate 9%

$585,400 $585.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,124 SF

Gross rent

$82.6K $20.04/SF

− Vacancy

−$12.4K −$3.01/SF

EGI

$70.2K $17.03/SF

− OpEx

−$17.6K −$4.26/SF

NOI

$52.7K $12.78/SF

Area

Madison County, AL

Vacancy

15.00%

Lease Rate

$20.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,053,720

Cap Rate 7%

$752,657

Cap Rate 9%

$585,400

Alternative Uses

Best Use

Office B

$752.7K

$658.6K – $878.1K (±1% cap)

NOI $52,686 @ 7.0% cap · market cap 5.89%

Second Best

Mixed Use

$711.4K

$622.5K – $830.0K (±1% cap)

NOI $49,797 @ 7.0% cap · market cap 5.56%

Theoretical Best

Office A

$1.07M

$939.7K – $1.25M (±1% cap)

NOI $75,172 @ 7.0% cap · market cap 8.40%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Wedding venues

Suggested Use

Top Pick Real Estate Agency Building Supply Dental Office Big Box & Wholesale Store Law Firm Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

134

Businesses Nearby

Explore this area Business Placement

Demographics for 35759, AL

9,894

Population

4,785

Households

2.1

Avg Household Size

39

Median Age

40%

College-Educated

90%

High-School Grad

18.5 sq mi

ZIP Area

535

Density / Sq Mi

$98,374

Median Household Income

$58,858

Median Earnings

$1,242

Median Rent

$272,200

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Remodeled historic home with business potential on 4.69 acres.

Where is this mixed-use property located?

The property is located at 11556 Hwy 231 431 N Meridianville, AL.

What is the asking price?

The asking price for this property is $895,000.

What are key features of this property?

This property features: Zoned for diverse work/live opportunities (wedding venue, studio, B&B, business) on 4.69 acres.; Recently remodeled and expanded 4,124SF historic house blending modern comfort with historic elegance.; Features 4 bedrooms, 4 bathrooms, and a game room.