Freestanding Professional Office
For Sale
$325,000
Pending
1621 Broad St, Phenix City, AL 36867
Freestanding professional/medical office building along Broad Street with zoning A-O and flexible live-work potential.
Property Size1,818 SF
Days on Market169
Property Features for 1621 Broad St
General Information
Standard status
Pending
Size
1,818 SF
Zoning
A-O
Listing Agency:
Berkshire Hathaway HS First Magnolia Realty
(706) 221-5031
Listed By:
Cal Knecht · License #389218
(860) 933-7022
Source:
Exprealty
Added: Mar 22
Changed: Sep 5
Last Checked: Sep 5 at 12:28PM
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 Berkshire Hathaway HS First Magnolia Realty
Investment Insights
Based on property information with market context.
Located at 1621 Broad St in Phenix City, Alabama, this freestanding professional/medical office building offers 1,818 square feet of space. The property is described as well-suited for professional and medical uses, and it features zoning A-O that also supports potential live-work use scenarios.
Situated along Broad Street, one of the area’s main commercial thoroughfares, the site is positioned for convenient ingress and egress and is promoted as benefiting from high daily traffic counts. The listing also references proximity to downtown Columbus and regional transportation routes.
As an owner-user or investor asset, the building is presented as a flexible option for professional services and medical or office-oriented tenants, with the A-O zoning noted as providing additional long-range reuse considerations.
Situated along Broad Street, one of the area’s main commercial thoroughfares, the site is positioned for convenient ingress and egress and is promoted as benefiting from high daily traffic counts. The listing also references proximity to downtown Columbus and regional transportation routes.
As an owner-user or investor asset, the building is presented as a flexible option for professional services and medical or office-oriented tenants, with the A-O zoning noted as providing additional long-range reuse considerations.
Key Highlights
- Freestanding 1,818 SF professional/medical office building at 1621 Broad Street in Phenix City, Alabama
- Located on Broad Street in the heart of Phenix City, with easy ingress and egress
- Zoned A‑O, supporting a range of professional office uses and potential live‑work uses
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
$22,543
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
6.94%
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%
$450,860
$450.9K
Cap Rate 7%
$322,043
$322.0K
Cap Rate 9%
$250,478
$250.5K
Market Conditions
NOI Build-Up for 1,818 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
$36.4K $20.04/SF
− Vacancy
−$6.4K −$3.51/SF
EGI
$30.1K $16.53/SF
− OpEx
−$7.5K −$4.13/SF
NOI
$22.5K $12.40/SF
Area
Lee County, AL
Vacancy
17.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$450,860
Cap Rate 7%
$322,043
Cap Rate 9%
$250,478
Alternative Uses
Best Use
Office B
$322.0K
$281.8K – $375.7K
NOI $22,543 @ 7.0% cap · market cap 6.94%
Second Best
Healthcare Medical
$292.9K
$256.3K – $341.7K
NOI $20,502 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$443.4K
$388.0K – $517.3K
NOI $31,038 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
994
Businesses Nearby
Explore this area
Business Placement
Demographics for 36867, AL
22,505
Population
10,782
Households
2.1
Avg Household Size
37
Median Age
28%
College-Educated
90%
High-School Grad
12.6 sq mi
ZIP Area
1,786
Density / Sq Mi
$46,847
Median Household Income
$36,035
Median Earnings
$963
Median Rent
$188,000
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?
Office building - Freestanding professional/medical office building along Broad Street with zoning A-O and flexible live-work potential.
Where is this office building located?
The property is located at 1621 Broad St Phenix City, AL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Freestanding 1,818 SF professional/medical office building at 1621 Broad Street in Phenix City, Alabama; Located on Broad Street in the heart of Phenix City, with easy ingress and egress; Zoned A‑O, supporting a range of professional office uses and potential live‑work uses
