Medical Office
For Sale
$475,000
1304 Somerville Rd SE, Decatur, AL 35601
Commercial building with office or medical use potential under INST zoning.
Property Size2,655 SF
Price / SF$178.91
Days on Market47
Property Features for 1304 Somerville Rd SE
General Information
Standard status
Active
Size
2,655 SF
Class
C
Property subtype
Office
Zoning
INST
Building Details
Building Size
2,655 SF
Year Built
1976
Buildings
1
Listed By:
Will Swann · License #AL #000173842-0
(256) 606-2424
Source:
Gatewaycommercial
Added: Sep 2
Changed: Oct 8
Last Checked: Oct 16 at 7:10AM
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 Will Swann
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Investment Insights
Based on property information with market context.
This 2,655-square-foot medical office property provides an established commercial building suitable for office or medical applications. Constructed in 1976, the property offers a defined structure for continued professional use or repositioning within the stated zoning framework.
Located at 1304 Somerville Rd SE in Decatur, Alabama, the building is zoned INST. The property’s classification and existing configuration support consideration by users seeking medical office space or other office-oriented commercial applications.
Located at 1304 Somerville Rd SE in Decatur, Alabama, the building is zoned INST. The property’s classification and existing configuration support consideration by users seeking medical office space or other office-oriented commercial applications.
Key Highlights
- 2,655 SF building
- Zoned INST
- Office or medical use potential
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,940
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$598,800
$598.8K
Cap Rate 7%
$427,714
$427.7K
Cap Rate 9%
$332,667
$332.7K
Market Conditions
NOI Build-Up for 2,655 SF
Gross rent
$55.8K $21.00/SF
− Vacancy
−$5.9K −$2.21/SF
EGI
$49.9K $18.80/SF
− OpEx
−$20.0K −$7.52/SF
NOI
$29.9K $11.28/SF
Area
Morgan County, AL
Vacancy
10.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$598,800
Cap Rate 7%
$427,714
Cap Rate 9%
$332,667
Alternative Uses
Best Use
Healthcare Medical
$427.7K
$374.3K – $499.0K
NOI $29,940 @ 7.0% cap · market cap 6.30%
Second Best
Office B
$386.1K
$337.8K – $450.4K
NOI $27,025 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$552.4K
$483.3K – $644.4K
NOI $38,665 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,044
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35601, AL
34,958
Population
15,168
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
77%
High-School Grad
26.5 sq mi
ZIP Area
1,319
Density / Sq Mi
$50,216
Median Household Income
$33,438
Median Earnings
$860
Median Rent
$148,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Commercial building with office or medical use potential under INST zoning.
Where is this medical office space located?
The property is located at 1304 Somerville Rd SE Decatur, AL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,655 SF building; Zoned INST; Office or medical use potential
