Medical Office
For Sale
$599,900
1406 Rainbow Drive, Gadsden, AL 35901
The property sits on Rainbow Drive in Gadsden, beside Gadrock.
Property Size3,865 SF
Price / SF$155.21
Days on Market25
Property Features for 1406 Rainbow Drive
General Information
Standard status
Active
Size
3,865 SF
Property subtype
COMMERCIAL
Additional Details
Property Use
Medical Office
Building Details
Building Size
3,865 SF
Listing Agency:
Susie Weems Real Estate, LLC
Listed By:
Betty Greer · License #64642
(256) 441-9517
Source:
Intownpartners
Added: Oct 5
Changed: Oct 27
Last Checked: Oct 26 at 3:26PM
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 Susie Weems Real Estate, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This medical office property contains approximately 3,865 square feet. It is located at 1406 Rainbow Drive in Gadsden, Alabama, adjacent to Gadrock.
Key Highlights
- Approximately 3,865 square feet of medical office space
- At 1406 Rainbow Drive in Gadsden, next to Gadrock
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,095
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$821,900
$821.9K
Cap Rate 7%
$587,071
$587.1K
Cap Rate 9%
$456,611
$456.6K
Market Conditions
NOI Build-Up for 3,865 SF
Gross rent
$76.5K $19.80/SF
− Vacancy
−$8.0K −$2.08/SF
EGI
$68.5K $17.72/SF
− OpEx
−$27.4K −$7.09/SF
NOI
$41.1K $10.63/SF
Area
Etowah County, AL
Vacancy
10.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$821,900
Cap Rate 7%
$587,071
Cap Rate 9%
$456,611
Alternative Uses
Best Use
Healthcare Medical
$587.1K
$513.7K – $684.9K
NOI $41,095 @ 7.0% cap · market cap 6.85%
Second Best
Office B
$356.6K
$312.0K – $416.0K
NOI $24,962 @ 7.0% cap · market cap 4.16%
Theoretical Best
Specialty Retail
$631.9K
$553.0K – $737.3K
NOI $44,236 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35901, AL
18,671
Population
9,075
Households
2.1
Avg Household Size
43
Median Age
22%
College-Educated
85%
High-School Grad
59.2 sq mi
ZIP Area
315
Density / Sq Mi
$47,826
Median Household Income
$30,212
Median Earnings
$747
Median Rent
$174,200
Median Home Value
Check the figures for this property
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 - The property sits on Rainbow Drive in Gadsden, beside Gadrock.
Where is this medical office space located?
The property is located at 1406 Rainbow Drive Gadsden, AL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Approximately 3,865 square feet of medical office space; At 1406 Rainbow Drive in Gadsden, next to Gadrock
