Fully Remodeled Retail/Office
For Sale
$299,000
15391 Highway 431 S, Gadsden, AL 35905
SINGLE_FAMILY - Gadsden, AL
Property Size1,260 SF
Lot Size0.49 Acres
Price / SF$237.30
Days on Market46
Property Features for 15391 Highway 431 S
General Information
Property type
Residential
Property subtype
Retail
Zoning description
Business, Commercial
Subdivision
Metes And Bounds
Directions
From Anniston - Take Hwy 431 N To Wellington Area. Property Will Be On The Left.
Standard status
Active
APN
0604170001047001
Size
1,260 SF
Lot size
0.49 Acres
Utilities
Sewer type
Septic Tank
Water source
Public
Amenities
open main area
public restroom
kitchenette
private restroom
storage room
unfinished basement
Building Details
Floors in Building
1
Flooring type
Tile, Vinyl
Listing Agency:
Keller Williams Realty Group
(256) 241-1500
Listed By:
Taylor McAllister · License #140544
(256) 419-3983
Added: Jun 29
Changed: Jul 31
Last Checked: Aug 13 at 6:06AM
MLS# 21914645
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.
Fully remodeled commercial space designed for flexible retail, office, or service use. The layout includes an open main area, public restroom, kitchenette, private restroom, storage room, and an unfinished basement. Flooring consists of tile and vinyl.
The property is located along Highway 431, a major north-south corridor with estimated traffic counts of 18,000+ vehicles per day, supporting strong visibility for a tenant looking for consistent drive-by exposure. The site sits on 0.49 acres.
Utilities include public water and a septic tank. The building area is 1,260 square feet, providing a compact footprint with multiple interior rooms for customer-facing and staff functions.
The property is located along Highway 431, a major north-south corridor with estimated traffic counts of 18,000+ vehicles per day, supporting strong visibility for a tenant looking for consistent drive-by exposure. The site sits on 0.49 acres.
Utilities include public water and a septic tank. The building area is 1,260 square feet, providing a compact footprint with multiple interior rooms for customer-facing and staff functions.
Key Highlights
- Fully remodeled commercial space with tile and vinyl flooring
- Open main area plus public restroom, kitchenette, private restroom, and storage room
- Unfinished basement for additional workspace or 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
$11,642
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
3.89%
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%
$232,840
$232.8K
Cap Rate 7%
$166,314
$166.3K
Cap Rate 9%
$129,356
$129.4K
Market Conditions
NOI Build-Up for 1,260 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
$18.9K $15.00/SF
− Vacancy
−$2.3K −$1.80/SF
EGI
$16.6K $13.20/SF
− OpEx
−$5.0K −$3.96/SF
NOI
$11.6K $9.24/SF
Area
Etowah County, AL
Vacancy
12.00%
Lease Rate
$15.00 /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%
$232,840
Cap Rate 7%
$166,314
Cap Rate 9%
$129,356
Alternative Uses
Best Use
Retail
$166.3K
$145.5K – $194.0K
NOI $11,642 @ 7.0% cap · market cap 3.89%
Second Best
Office B
$116.3K
$101.7K – $135.6K
NOI $8,138 @ 7.0% cap · market cap 2.72%
Theoretical Best
Specialty Retail
$206.0K
$180.3K – $240.4K
NOI $14,421 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 35905, AL
6,706
Population
2,862
Households
2.3
Avg Household Size
46
Median Age
20%
College-Educated
93%
High-School Grad
41.8 sq mi
ZIP Area
160
Density / Sq Mi
$65,505
Median Household Income
$38,315
Median Earnings
$715
Median Rent
$188,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Fully remodeled commercial space along Highway 431 with an open main area and restroom plus kitchenette configuration.
Where is this retail space located?
The property is located at 15391 Highway 431 S Gadsden, AL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Fully remodeled commercial space with tile and vinyl flooring; Open main area plus public restroom, kitchenette, private restroom, and storage room; Unfinished basement for additional workspace or storage
