Remodeled Flex Space
For Sale
$529,900
12475 Highway 431 S, Boaz, AL 35956
COMMERCIAL - Boaz, AL
Property Size6,800 SF
Lot Size4.68 Acres
Price / SF$77.93
Days on Market95
Property Features for 12475 Highway 431 S
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Parking Lot
Directions
Call Agent For Directions
Standard status
Active
APN
0403080001037.001
Size
6,800 SF
Lot size
4.68 Acres
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Impact Realty, LLC
(256) 459-4001
Listed By:
Hollie Bobo · License #124569
(256) 302-4557
Added: May 11
Changed: Aug 12
Last Checked: Aug 13 at 5:06AM
MLS# 21917675
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Investment Insights
Based on property information with market context.
This fully remodeled flex space building offers approximately 6,800 square feet of indoor space on a 4.68-acre site. The interior features concrete flooring, central heating, and central air conditioning, with metal roofing and a parking lot for on-site access. The layout includes two bathrooms (Bathroom 1 and Bathroom 2) to support a range of flexible operational needs.
Built in 1980, the property is served by public water and a septic tank, with the improvements positioned to support retail, office, warehouse, light industrial, or mixed-use operations. The exterior updates include a modernized look and functionality intended for a move-in-ready experience.
With the combination of sizable building space and acreage, the site can also accommodate storage, parking, and future expansion depending on the user’s plans.
Built in 1980, the property is served by public water and a septic tank, with the improvements positioned to support retail, office, warehouse, light industrial, or mixed-use operations. The exterior updates include a modernized look and functionality intended for a move-in-ready experience.
With the combination of sizable building space and acreage, the site can also accommodate storage, parking, and future expansion depending on the user’s plans.
Key Highlights
- Fully remodeled flex space building with 6,800 square feet
- Situated on 4.68 acres with parking lot on site
- Concrete flooring throughout with central heating and central air
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
$43,380
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
8.19%
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%
$867,600
$867.6K
Cap Rate 7%
$619,714
$619.7K
Cap Rate 9%
$482,000
$482.0K
Market Conditions
NOI Build-Up for 6,800 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
$67.7K $9.96/SF
− Vacancy
−$5.8K −$0.85/SF
EGI
$62.0K $9.11/SF
− OpEx
−$18.6K −$2.73/SF
NOI
$43.4K $6.38/SF
Area
Marshall County, AL
Vacancy
8.50%
Lease Rate
$9.96 /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%
$867,600
Cap Rate 7%
$619,714
Cap Rate 9%
$482,000
Alternative Uses
Best Use
Retail
$619.7K
$542.3K – $723.0K
NOI $43,380 @ 7.0% cap · market cap 8.19%
Second Best
Flex RnD
$557.7K
$488.0K – $650.6K
NOI $39,037 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,738 @ 7.0% cap · market cap 19.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35956, AL
9,109
Population
3,892
Households
2.3
Avg Household Size
41
Median Age
19%
College-Educated
87%
High-School Grad
74.3 sq mi
ZIP Area
123
Density / Sq Mi
$57,598
Median Household Income
$36,569
Median Earnings
$816
Median Rent
$170,900
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Fully remodeled flex space with central air, concrete floors, parking lot, and public water plus septic service.
Where is this flex space located?
The property is located at 12475 Highway 431 S Boaz, AL.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Fully remodeled flex space building with 6,800 square feet; Situated on 4.68 acres with parking lot on site; Concrete flooring throughout with central heating and central air
