Medical Office
New
For Sale
$599,900
1406 Rainbow Drive, Gadsden, AL 35901
Business Opportunity, Gadsden, AL
Property Size3,865 SF
Lot Size0.60 Acres
Price / SF$155.21
Days on Market6
Property Features for 1406 Rainbow Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Metes And Bounds
Directions
Located On Rainbow Drive, Next To Gadrock
Standard status
Active
APN
1505153000003.003
Size
3,865 SF
Lot size
0.60 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
1
Flooring type
Carpet
Listing Agency:
Susie Weems Real Estate, LLC
(256) 546-4663
Listed By:
Betty Greer · License #64642
(256) 441-9517
Added: Oct 5
Last Checked: Oct 10 at 12:06AM
MLS# 21930919
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Investment Insights
Based on property information with market context.
This medical office property contains 3,865 square feet on a 0.6-acre lot. Carpet is installed in the building, which has public water service and public sewer access.
Located at 1406 Rainbow Drive in Gadsden, the property is next door to Gadrock.
Located at 1406 Rainbow Drive in Gadsden, the property is next door to Gadrock.
Key Highlights
- 3,865‑square‑foot medical office property
- 0.6‑acre lot
- Carpet flooring
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.
Property Analytics
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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
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The property includes carpeted interiors and public water and sewer service.
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: 3,865‑square‑foot medical office property; 0.6‑acre lot; Carpet flooring
