Mixed-Use Property with Living
New
For Sale
$249,900
11984 Highway 67 S, Joppa, AL 35087
Business Opportunity, Joppa, AL
Property Size3,936 SF
Lot Size1.01 Acres
Price / SF$63.49
Days on Market2
Property Features for 11984 Highway 67 S
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Unzoned
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Parking features
Parking Lot, Driveway
Subdivision
Metes And Bounds
Lot features
High Visibility
Directions
From Arab On Highway 69 East Toward Cullman, Turn Right At The Four Way Stop Onto Highway 67, Property Is Ahead On The Right With Sign, Just Past The Caution Light
Standard status
Active
APN
2107250000015.005
Size
3,936 SF
Lot size
1.01 Acres
Utilities
Sewer type
Septic Tank
Heating system
Propane (Heating), Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1993
Floors in Building
1
Flooring type
Concrete, Tile, Carpet
Roof type
Shingle
Listing Agency:
Re/Max Heritage · RE/MAX International
(256) 586-4410
Listed By:
Brenda King · License #97861
(256) 550-2101
Added: Sep 1
Last Checked: Sep 2 at 12:06PM
MLS# 21928025
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 3,936-square-foot mixed-use property sits on 1.0124 acres and includes both commercial and residential components. The primary area provides approximately 1,920 square feet of open space, a foyer, and two bathrooms, with tile flooring supporting a range of potential layouts. The rear portion includes two bedrooms, a three-quarter bathroom, laundry storage, a full kitchen, and a living room.
On-site parking is provided through a parking lot and driveway. Two detached buildings add separate utility space, measuring 10x19 and 17x26. The property was built in 1993 and features central air, propane forced-air heating, public water, and septic service. It is located on Highway 67 S in Joppa, Alabama.
On-site parking is provided through a parking lot and driveway. Two detached buildings add separate utility space, measuring 10x19 and 17x26. The property was built in 1993 and features central air, propane forced-air heating, public water, and septic service. It is located on Highway 67 S in Joppa, Alabama.
Key Highlights
- 3,936 square feet on 1.0124 acres
- Approximately 1,920 sq ft of open primary space with foyer and two bathrooms
- Rear living quarters with 2 bedrooms, 3/4 bathroom, laundry closet, kitchen, and living 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
$16,885
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
6.76%
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%
$337,700
$337.7K
Cap Rate 7%
$241,214
$241.2K
Cap Rate 9%
$187,611
$187.6K
Market Conditions
NOI Build-Up for 3,936 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
$30.7K $7.80/SF
− Vacancy
−$3.7K −$0.94/SF
EGI
$27.0K $6.86/SF
− OpEx
−$10.1K −$2.57/SF
NOI
$16.9K $4.29/SF
Area
Cullman County, AL
Vacancy
12.00%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
37.50%
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%
$337,700
Cap Rate 7%
$241,214
Cap Rate 9%
$187,611
Alternative Uses
Best Use
Mixed Use
$241.2K
$211.1K – $281.4K
NOI $16,885 @ 7.0% cap · market cap 6.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$580.3K
$507.8K – $677.0K
NOI $40,620 @ 7.0% cap · market cap 16.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Explore this area
Business Placement
Demographics for 35087, AL
2,294
Population
969
Households
2.4
Avg Household Size
43
Median Age
23%
College-Educated
86%
High-School Grad
22.8 sq mi
ZIP Area
101
Density / Sq Mi
$49,879
Median Household Income
$41,034
Median Earnings
$895
Median Rent
$167,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible interior layout combines an open commercial area with residential accommodations.
Where is this mixed-use property located?
The property is located at 11984 Highway 67 S Joppa, AL.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 3,936 square feet on 1.0124 acres; Approximately 1,920 sq ft of open primary space with foyer and two bathrooms; Rear living quarters with 2 bedrooms, 3/4 bathroom, laundry closet, kitchen, and living room
