Multi-Suite Flex
For Sale
$750,000
1401 6th Avenue, Decatur, AL 35601
Business Opportunity, Decatur, AL
Property Size3,980 SF
Lot Size0.26 Acres
Price / SF$188.44
Days on Market48
Property Features for 1401 6th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business, Commercial
Parking features
Alley, Parking Lot, Driveway
Exterior features
Curb/Gutters, Lighting, Sidewalks
Lot features
Corner Lot, High Visibility
Directions
From Hudson Memorial Bridge, Stay On 6th Avenue/Highway 31. Building Is On The Right On The Corner Of 6th Avenue And 10th Street.
Standard status
Active
Size
3,980 SF
Lot size
0.26 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
2
Flooring type
Tile, Concrete, Vinyl, Carpet
Roof type
Metal
Listing Agency:
Parker Jones Real Estate
(256) 353-1112
Listed By:
Peggy Carden · License #111527
(256) 318-2771
Added: Jul 10
Changed: Aug 21
Last Checked: Aug 26 at 7:06AM
MLS# 21923236
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 3,980-square-foot flex property at 1401 6th Avenue includes two retail spaces, four offices, a breakroom, two restrooms, and warehouse space. The current layout supports multiple functional areas within one building, with the possibility of division for multiple tenants. An additional 2,000 square feet of storage is located upstairs, and a rear overhead door provides access to the storage area. The building has two HVAC systems and a metal roof.
The property occupies a 0.2571-acre corner lot at 6th Avenue and 10th Street SE in Decatur, Alabama. Site features include sidewalks, curb and gutters, exterior lighting, accessible parking, a parking lot, driveway, and alley access. Public water and public sewer serve the property. The building is offered for sale or lease.
The property occupies a 0.2571-acre corner lot at 6th Avenue and 10th Street SE in Decatur, Alabama. Site features include sidewalks, curb and gutters, exterior lighting, accessible parking, a parking lot, driveway, and alley access. Public water and public sewer serve the property. The building is offered for sale or lease.
Key Highlights
- 3,980‑square‑foot flex building on a 0.2571‑acre corner lot
- Current layout includes 2 retail spaces, 4 offices, breakroom, 2 restrooms, and warehouse space
- Additional 2,000 square feet of upstairs storage
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
$32,914
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
4.39%
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%
$658,280
$658.3K
Cap Rate 7%
$470,200
$470.2K
Cap Rate 9%
$365,711
$365.7K
Market Conditions
NOI Build-Up for 3,980 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
$52.5K $13.20/SF
− Vacancy
−$5.5K −$1.39/SF
EGI
$47.0K $11.81/SF
− OpEx
−$14.1K −$3.54/SF
NOI
$32.9K $8.27/SF
Area
Morgan County, AL
Vacancy
10.50%
Lease Rate
$13.20 /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%
$658,280
Cap Rate 7%
$470,200
Cap Rate 9%
$365,711
Alternative Uses
Best Use
Retail
$470.2K
$411.4K – $548.6K
NOI $32,914 @ 7.0% cap · market cap 4.39%
Second Best
Flex RnD
$341.6K
$298.9K – $398.5K
NOI $23,911 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$828.0K
$724.5K – $966.0K
NOI $57,962 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,114
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
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 - Corner-lot building combines retail areas, offices, warehouse space, and additional upper-level storage.
Where is this flex space located?
The property is located at 1401 6th Avenue Decatur, AL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,980‑square‑foot flex building on a 0.2571‑acre corner lot; Current layout includes 2 retail spaces, 4 offices, breakroom, 2 restrooms, and warehouse space; Additional 2,000 square feet of upstairs storage
