Quadplex Conversion with
154 S Main Street Arab, AL 35016
For Sale
$484,900
MULTI_FAMILY - Arab, AL
Property Size6,000 SF
Lot Size0.64 Acres
Price / SF$80.82
Days on Market38
Property Features for 154 S Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
8
Rooms
Bathroom 6, Bathroom 2, Bathroom 1, Basement, Bathroom 7, Bathroom 8, Bathroom 4, Bathroom 5, Bathroom 3
Exterior features
Lighting, Sidewalks
Accessibility
Accessible Doors
Standard status
Active
APN
1307261001055.000
Size
6,000 SF
Lot size
0.64 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Floors in Building
2
Flooring type
Wood, Tile, Concrete, Carpet
Listing Agency:
Re/Max Heritage
(256) 586-4410
Listed By:
Brenda King · License #97861
(256) 550-2101
Added: Jun 22
Changed: Jul 28
Last Checked: Jul 29 at 5:06PM
MLS# 21863749
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Investment Insights
Based on property information with market context.
This property is a former medical office designed with separation in mind, featuring a divider beam down the center of the building and a basement. The existing layout includes central units where two are described as new, and the seller expects the building to be empty by closing.
The site includes parking in the front and a grassy area behind the building. With the basement and central divider configuration, the property is presented as suitable for redevelopment into multiple rental units.
The building is listed as 6,000 square feet on a 0.6382-acre lot and is located at 154 S Main Street in Arab, Alabama 35016, in Marshall County.
The site includes parking in the front and a grassy area behind the building. With the basement and central divider configuration, the property is presented as suitable for redevelopment into multiple rental units.
The building is listed as 6,000 square feet on a 0.6382-acre lot and is located at 154 S Main Street in Arab, Alabama 35016, in Marshall County.
Key Highlights
- Built in 1984, former medical office designed for separation between two physicians
- Divider beam down the center of the building, plus a basement—potential to develop into 4 rental units
- 2 of the existing central units are new; building will be empty by the seller by closing
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.0k | $9.00 |
| − Vacancy | −$3.5k | −$0.59 |
| EGI | $50.5k | $8.42 |
| − OpEx | −$15.1k | −$2.52 |
| NOI | $35.3k | $5.89 |
6,000 SF · lease $9.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$504.9K
$441.8K – $589.1K
NOI $35,343 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$464.0K
$406.0K – $541.3K
NOI $32,478 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$1.30M
$1.13M – $1.51M
NOI $90,651 @ 7.0% cap · market cap 18.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Former two-physician medical office with central divider beam, basement, front parking, and grassy area behind.
Where is this quadplex located?
The property is located at 154 S Main Street Arab, AL.
What is the asking price?
The asking price for this property is $484,900.
What are key features of this property?
This property features: Built in 1984, former medical office designed for separation between two physicians; Divider beam down the center of the building, plus a basement—potential to develop into 4 rental units; 2 of the existing central units are new; building will be empty by the seller by closing
