Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1351 Old Waterworks Rd SW Fort Payne, AL 35968

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,495,000

    Thriving commercial/industrial property in Ft. Payne, AL, near I-59.

    Type:Land
    Property size:
    2,400 SF
    Added:
    Feb 12, 2025
    Days on Market:
    413
    Last Refresh:
    Mar 16 at 1:09 pm

    Property Features for 1351 Old Waterworks Rd SW

    General Information

    Standard status
    Active
    Size
    2,400 SF
    Property subtype
    Land

    We can help!

    Listing Contact
    Alec Wardenburg
    Alec Wardenburg

    Listing agent Alec Wardenburg License #MO 2019020519

    Listing office National Land Realty

    Listing date Feb 12, 2025

    Source Crexi

    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 National Land Realty

    Overview

    Commercial/Industrial Property in Ideal Location

    This commercial and industrial property is located in Ft. Payne, Alabama, adjacent to I-59 at exit 218. Zoned M1, the property allows for various types of development. Utilities available include power, water, gas, and sewer. The property is located across the street from Sante Fe Cattle Company and Cracker Barrel restaurants, and adjacent to numerous medical facilities. It includes a 2400 square foot custom home with a pool, as well as a shop building. The property has been under the same ownership for over forty-five years.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Big Box & Wholesale Store Hair Salon Gym & Fitness Center Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Payne
    County
    DeKalb
    State
    Alabama
    Longitude
    -85.74747
    Latitude
    34.439641

    Nearby Similar for Sale

    • $350,000
      2,752 SF

      Restaurant Venue Near DeSoto Parkway

      Restaurant property near DeSoto State Park and Little River Canyon.
      4608 Desoto Parkway N, Fort Payne, AL 35967
      View Details
    • $319,000
      2,816 SF

      Fort Payne Commercial Opportunity

      Versatile commercial property in Fort Payne with high visibility.
      105 County Road 89, Fort Payne, AL 35967
      View Details
    • $215,000
      1,709 SF

      Attractive Office on Attorney Row

      Charming office building with hardwood floors and mature landscaping.
      308 Alabama Avenue SW, Fort Payne, AL 35967
      View Details
    • $990,000
      107,000 SF

      Fort Payne Manufacturing/Warehouse Facility

      107,000 SF manufacturing/warehouse on 2.4 acres with high visibility.
      2807 Gault Avenue, Fort Payne, AL 35967
      View Details
    • $2,200,000
      14,000 SF

      Medical Office Building For Sale

      14,000 SF medical office building on 3 acres.
      2202 Jordan Road, Fort Payne, AL 35968
      View Details
    • $299,900
      2,496 SF

      Fort Payne Commercial Building For Sale

      2,496 SF commercial building in rapidly developing business district.
      1526 Gault Avenue N, Fort Payne, AL 35967
      View Details
    • $449,900
      5,968 SF

      Established Business in Fort Payne

      Thriving vendor-based business with growth potential on an acre lot.
      1030 SW Grand Avenue, Fort Payne, AL 35967
      View Details
    • $380,000
      4,738 SF

      Downtown Fort Payne Commercial Property

      Commercial property on Gault Avenue in revitalizing downtown Fort Payne.
      112 Gault Avenue N, Fort Payne, AL 35967
      View Details
    • $275,000
      1,927 SF

      Professional Office Building For Sale

      Professional office building with multiple offices, waiting room and more.
      1105 Cedarwood Drive SW, Fort Payne, AL 35968
      View Details
    • $299,000
      1,050 SF

      Downtown Fort Payne Commercial Space

      Open, flexible space in a high-visibility downtown location.
      107 3rd Street, Fort Payne, AL 35967
      View Details
    • $1,650,000
      11,822 SF

      Fort Payne Manufacturing Facility

      11,800 SqFt manufacturing facility on 40 acres in Fort Payne.
      221 55th Street NE, Fort Payne, AL 35967
      View Details
    • $400,000
      4,180 SF

      Fort Payne Income Property

      Residential income property in Fort Payne, Alabama.
      5948 County Road 121, Fort Payne, AL 35968
      View Details

    FAQs

    What type of property is this?
    Commercial land - Thriving commercial/industrial property in Ft. Payne, AL, near I-59.
    Where is this commercial land located?
    The property is located at 1351 Old Waterworks Rd SW Fort Payne, AL.
    What is the asking price?
    The asking price for this property is $3,495,000.
    What are key features of this property?
    This property features: Ideal location adjacent to I‑59 at Exit 218 in Ft. Payne, AL.; Zoned M1, allowing for many types of commercial/industrial development.; Utilities available: power, water, gas, and sewer.
    (636) 429-4711
    We can help!
    Listing Contact
    Alec Wardenburg
    Alec Wardenburg
    Real Estate License ID: MO 2019020519
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!