Flex Building with Covered
For Sale
$419,900
16097 Parker Road, Athens, AL 35611
Business Opportunity, Athens, AL
Property Size5,200 SF
Lot Size0.55 Acres
Price / SF$80.75
Days on Market228
Property Features for 16097 Parker Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Unzoned
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Subdivision
Metes And Bounds
Directions
West Out Of Athens On Highway 72. Turn N Onto Parker Rd. Property Is On Left.
Standard status
Active
APN
12 01 12 0 000 047.000
Size
5,200 SF
Lot size
0.55 Acres
Utilities
Sewer type
Septic Tank
Water source
Public
Building Details
Floors in Building
2
Flooring type
Concrete
Listing Agency:
Smith Realty & Auction
(256) 444-0502
Listed By:
Cody Smith · License #110514
(256) 497-6689
Added: Feb 11
Changed: Sep 8
Last Checked: Sep 27 at 11:06AM
MLS# 21909635
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.
This 5,200-square-foot flex building features red iron construction, concrete flooring, and a 20-by-20-foot office area. The layout also includes two large bay doors, upstairs storage areas, a bathroom, and a 20-by-40-foot covered area along the front of the building.
The property sits on 0.55 acres at 16097 Parker Road in Athens, Alabama. The lot is fenced and includes paved parking. Public water and a septic tank serve the property, which is located one block from Hwy 72.
The property sits on 0.55 acres at 16097 Parker Road in Athens, Alabama. The lot is fenced and includes paved parking. Public water and a septic tank serve the property, which is located one block from Hwy 72.
Key Highlights
- 5,200‑square‑foot red iron flex building
- 20‑by‑40‑foot covered area at the front
- 20‑by‑20‑foot office area
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
$26,147
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
6.23%
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%
$522,940
$522.9K
Cap Rate 7%
$373,529
$373.5K
Cap Rate 9%
$290,522
$290.5K
Market Conditions
NOI Build-Up for 5,200 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
$32.4K $6.24/SF
− Vacancy
−$1.7K −$0.32/SF
EGI
$30.8K $5.92/SF
− OpEx
−$4.6K −$0.89/SF
NOI
$26.1K $5.03/SF
Area
Limestone County, AL
Vacancy
5.20%
Lease Rate
$6.24 /SF/Yr
Expense Ratio
15.00%
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%
$522,940
Cap Rate 7%
$373,529
Cap Rate 9%
$290,522
Alternative Uses
Best Use
Flex RnD
$799.6K
$699.7K – $932.9K
NOI $55,973 @ 7.0% cap · market cap 13.33%
Second Best
Warehouse
$373.5K
$326.8K – $435.8K
NOI $26,147 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,786 @ 7.0% cap · market cap 22.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35611, AL
27,168
Population
13,709
Households
2
Avg Household Size
41
Median Age
22%
College-Educated
81%
High-School Grad
115.1 sq mi
ZIP Area
236
Density / Sq Mi
$54,606
Median Household Income
$38,872
Median Earnings
$796
Median Rent
$201,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fenced commercial building with office space, two large bay doors, upstairs storage, and paved parking.
Where is this flex space located?
The property is located at 16097 Parker Road Athens, AL.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: 5,200‑square‑foot red iron flex building; 20‑by‑40‑foot covered area at the front; 20‑by‑20‑foot office area
