Remodeled Historic Live-Work
For Sale
$895,000
11556 Highway 231/431, Meridianville, AL 35759
Business Opportunity, Meridianville, AL
Property Size4,124 SF
Lot Size4.69 Acres
Price / SF$217.02
Days on Market95
Property Features for 11556 Highway 231/431
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 1, Bathroom 3, Bathroom 2
Parking features
Garage, Driveway
Lot features
High Visibility
Directions
North On Memorial Parkway To Meridianville, House On Right Next To The Meridianville Athletic Association And Across From Meridianville Bbq.
Standard status
Active
APN
0804190000055.000
Size
4,124 SF
Lot size
4.69 Acres
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
2
Flooring type
Wood
Roof type
Shingle
Listing Agency:
Russ Russell Real Estate
(256) 536-7777
Listed By:
Russ Russell · License #25965
(256) 527-7777
Added: May 21
Changed: Aug 20
Last Checked: Aug 23 at 1:06AM
MLS# 21888077
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 live-work property occupies 4.69 acres and includes a historic 4,124-square-foot house that has been recently remodeled and expanded. The residence retains historic character while incorporating modern comfort features, including wood flooring, heat-pump heating, central air, a shingle roof, and four bathrooms. A four-bedroom layout also includes a game room, with garage and driveway parking.
Located at 11556 Highway 231/431 in Meridianville, Alabama, the property is 1.2 miles from the Madison County Executive Airport. County zoning supports the property’s stated live-work concept and potential use for a wedding venue, photography studio, bed-and-breakfast, or professional business. Public water and public sewer serve the property.
Located at 11556 Highway 231/431 in Meridianville, Alabama, the property is 1.2 miles from the Madison County Executive Airport. County zoning supports the property’s stated live-work concept and potential use for a wedding venue, photography studio, bed-and-breakfast, or professional business. Public water and public sewer serve the property.
Key Highlights
- 4.69‑acre live‑work property at 11556 Highway 231/431, Meridianville, AL 35759
- Historic 4,124 SF house recently remodeled and expanded
- Four bedrooms, four bathrooms, and a game room
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
$52,686
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
5.89%
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%
$1,053,720
$1.1M
Cap Rate 7%
$752,657
$752.7K
Cap Rate 9%
$585,400
$585.4K
Market Conditions
NOI Build-Up for 4,124 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
$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 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%
$1,053,720
Cap Rate 7%
$752,657
Cap Rate 9%
$585,400
Alternative Uses
Best Use
Office B
$752.7K
$658.6K – $878.1K
NOI $52,686 @ 7.0% cap · market cap 5.89%
Second Best
Mixed Use
$711.4K
$622.5K – $830.0K
NOI $49,797 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$1.07M
$939.7K – $1.25M
NOI $75,172 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
109
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Historic property with wood flooring, updated comfort features, and flexible business-use potential.
Where is this live-work space located?
The property is located at 11556 Highway 231/431 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: 4.69‑acre live‑work property at 11556 Highway 231/431, Meridianville, AL 35759; Historic 4,124 SF house recently remodeled and expanded; Four bedrooms, four bathrooms, and a game room
