Two-Building Warehouse
For Sale
$439,000
1490 Gravel Ridge Road, Somerville, AL 35670
Two metal buildings are accompanied by a concrete loading pad for warehouse operations.
Property Size3,440 SF
Lot Size2.50 Acres
Price / SF$127.62
Days on Market149
Property Features for 1490 Gravel Ridge Road
General Information
Standard status
Active
Size
3,440 SF
Lot size
2.50 Acres
Property subtype
COMMERCIAL
Building Details
Building Size
3,440 SF
Year Built
2014
Buildings
2
Construction
metal
Listing Agency:
Coldwell Banker Mcmillan
Listed By:
Dianne Barrett · License #102849
(256) 340-0222
Source:
Intownpartners
Added: Jun 4
Changed: Oct 26
Last Checked: Oct 26 at 4:00PM
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 Coldwell Banker Mcmillan
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Investment Insights
Based on property information with market context.
This warehouse property comprises 2.5 acres and two metal buildings totaling 3,440 square feet. The 2,400-square-foot building has insulation, a concrete slab, a restroom, two commercial-grade roll-up doors, and an entry door. The 1,040-square-foot building has a concrete slab, one commercial-grade roll-up door, and an entry door. A concrete loading pad serves the property.
Frontage listed by tax plat measures 734.68 feet on Upper River Road, 282.84 feet from Gravel Ridge Road, and 485.03 feet on Curry Chapel Road. The buildings were constructed in 2014.
Frontage listed by tax plat measures 734.68 feet on Upper River Road, 282.84 feet from Gravel Ridge Road, and 485.03 feet on Curry Chapel Road. The buildings were constructed in 2014.
Key Highlights
- Two metal buildings totaling 3,440 square feet on 2.5 acres
- 2,400‑square‑foot building with insulation, restroom, concrete slab, and two commercial‑grade roll‑up doors
- 1,040‑square‑foot building with concrete slab and one commercial‑grade roll‑up door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,275
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,500
$405.5K
Cap Rate 7%
$289,643
$289.6K
Cap Rate 9%
$225,278
$225.3K
Market Conditions
NOI Build-Up for 3,440 SF
Gross rent
$25.6K $7.44/SF
− Vacancy
−$1.7K −$0.51/SF
EGI
$23.9K $6.93/SF
− OpEx
−$3.6K −$1.04/SF
NOI
$20.3K $5.89/SF
Area
Morgan County, AL
Vacancy
6.80%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,500
Cap Rate 7%
$289,643
Cap Rate 9%
$225,278
Alternative Uses
Best Use
Warehouse
$289.6K
$253.4K – $337.9K
NOI $20,275 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$715.7K
$626.2K – $835.0K
NOI $50,097 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 35670, AL
7,780
Population
3,239
Households
2.4
Avg Household Size
43
Median Age
19%
College-Educated
80%
High-School Grad
98.6 sq mi
ZIP Area
79
Density / Sq Mi
$48,531
Median Household Income
$29,500
Median Earnings
$765
Median Rent
$165,200
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Warehouse - Two metal buildings are accompanied by a concrete loading pad for warehouse operations.
Where is this warehouse located?
The property is located at 1490 Gravel Ridge Road Somerville, AL.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Two metal buildings totaling 3,440 square feet on 2.5 acres; 2,400‑square‑foot building with insulation, restroom, concrete slab, and two commercial‑grade roll‑up doors; 1,040‑square‑foot building with concrete slab and one commercial‑grade roll‑up door
