Office and Storage Flex
For Sale
$1,695,000
3518 Greensboro Avenue, Tuscaloosa, AL 35401
Two-story office building with roll-up door shop space, storage bays, and secure fenced yards on 3.41 acres.
Property Size29,784 SF
Lot Size3.41 Acres
Price / SF$56.91
Days on Market450
Property Features for 3518 Greensboro Avenue
General Information
Standard status
Active
Size
29,784 SF
Total Parking Spaces
60
Lot size
3.41 Acres
Property subtype
Mixed Use
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Office Units
50
Taxes and HOA fees
Annual Taxes
$9,773
Amenities
conference rooms
interior shop space with a roll up door
3
IRREGULAR
Building Details
Year Built
2000
Stories
2
Listing Agency:
(205) 292-9771
Listed By:
Pritchett Moore Real Estate
(205) 292-9771
Source:
Xome
Added: May 20, 2025
Changed: Aug 12
Last Checked: Aug 12 at 4:06AM
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 Pritchett Moore Real Estate
Investment Insights
Based on property information with market context.
This flex-style property offers a two-story, approximately 20,000 SF office building combined with open and closed storage bays totaling approximately 9,784 SF. The office portion includes nearly 50 office spaces and two conference rooms, along with interior shop space featuring a roll-up door. Exterior improvements include a well-managed parking area with 60+ marked spaces and additional parking around the storage bays, plus two gravel laydown yards on site.
The site is secured by fences and gates, supporting an operation that requires controlled access between office and storage areas. The property is described as move-in ready for a large firm seeking a combined office and storage setup.
Overall, the configuration provides an on-site workplace with substantial storage capacity and yard space, arranged around the main bays and secured circulation.
The site is secured by fences and gates, supporting an operation that requires controlled access between office and storage areas. The property is described as move-in ready for a large firm seeking a combined office and storage setup.
Overall, the configuration provides an on-site workplace with substantial storage capacity and yard space, arranged around the main bays and secured circulation.
Key Highlights
- Two‑story 20,000 SF office building on 3.41+/- acres with nearly 50 office spaces.
- Includes 9,784 SF of open and closed storage bays, plus interior shop space with a roll‑up door.
- Two conference rooms and 60+ marked parking spaces, with additional parking around the 9,000 SF bays.
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
$143,356
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
8.46%
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%
$2,867,120
$2.9M
Cap Rate 7%
$2,047,943
$2.0M
Cap Rate 9%
$1,592,844
$1.6M
Market Conditions
NOI Build-Up for 29,784 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
$214.4K $7.20/SF
− Vacancy
−$9.7K −$0.32/SF
EGI
$204.8K $6.88/SF
− OpEx
−$61.4K −$2.06/SF
NOI
$143.4K $4.81/SF
Area
Tuscaloosa, AL
Vacancy
4.50%
Lease Rate
$7.20 /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%
$2,867,120
Cap Rate 7%
$2,047,943
Cap Rate 9%
$1,592,844
Alternative Uses
Best Use
Office B
$4.93M
$4.31M – $5.75M
NOI $344,988 @ 7.0% cap · market cap 20.35%
Second Best
Flex RnD
$3.29M
$2.88M – $3.84M
NOI $230,515 @ 7.0% cap · market cap 13.60%
Theoretical Best
Office A
$7.16M
$6.26M – $8.35M
NOI $501,015 @ 7.0% cap · market cap 29.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
50
Office units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35401, AL
41,852
Population
19,517
Households
2.1
Avg Household Size
26
Median Age
27%
College-Educated
85%
High-School Grad
40.1 sq mi
ZIP Area
1,044
Density / Sq Mi
$30,031
Median Household Income
$13,041
Median Earnings
$911
Median Rent
$141,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story office building with roll-up door shop space, storage bays, and secure fenced yards on 3.41 acres.
Where is this flex space located?
The property is located at 3518 Greensboro Avenue Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Two‑story 20,000 SF office building on 3.41+/- acres with nearly 50 office spaces.; Includes 9,784 SF of open and closed storage bays, plus interior shop space with a roll‑up door.; Two conference rooms and 60+ marked parking spaces, with additional parking around the 9,000 SF bays.
