Medical Office Property with
New
For Sale
$799,000
1622 SE Church Avenue, Jacksonville, AL 36265
Medical office property with central air and an on-site parking lot.
Property Size6,923 SF
Days on Market4
Property Features for 1622 SE Church Avenue
General Information
Standard status
Active
Size
6,923 SF
Property subtype
Business Opportunity
Amenities
Accessible Entrance
Central Air
Parking Lot
Building Details
Building Size
6,923 SF
Year Built
2005
Buildings
1
Stories
1
Listing Agency:
Bone Realty Company
(256) 504-7553
Listed By:
Anna Tillman Inzer · License #137502
(256) 504-7553
Source:
Evrealestate
Added: Aug 7
Changed: Aug 9
Last Checked: Aug 10 at 4:27AM
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 Bone Realty Company
Investment Insights
Based on property information with market context.
This medical office property was constructed in 2005 and includes central air conditioning along with an on-site parking lot.
The property is located at 1622 SE Church Avenue in Jacksonville, Alabama. Access is described from Highway 21 North through George Douthit Drive SW and Church Avenue, with the building positioned on the left after the Church Avenue stop sign.
The property is located at 1622 SE Church Avenue in Jacksonville, Alabama. Access is described from Highway 21 North through George Douthit Drive SW and Church Avenue, with the building positioned on the left after the Church Avenue stop sign.
Key Highlights
- Medical office property built in 2005
- Central air conditioning
- On‑site parking lot
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
$53,459
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
6.69%
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%
$1,069,180
$1.1M
Cap Rate 7%
$763,700
$763.7K
Cap Rate 9%
$593,989
$594.0K
Market Conditions
NOI Build-Up for 6,923 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
$91.4K $13.20/SF
− Vacancy
−$20.1K −$2.90/SF
EGI
$71.3K $10.30/SF
− OpEx
−$17.8K −$2.57/SF
NOI
$53.5K $7.72/SF
Area
Calhoun County, AL
Vacancy
22.00%
Lease Rate
$13.20 /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%
$1,069,180
Cap Rate 7%
$763,700
Cap Rate 9%
$593,989
Alternative Uses
Best Use
Healthcare Medical
$1.06M
$931.3K – $1.24M
NOI $74,502 @ 7.0% cap · market cap 9.32%
Second Best
Office B
$763.7K
$668.2K – $891.0K
NOI $53,459 @ 7.0% cap · market cap 6.69%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 36265, AL
22,018
Population
9,582
Households
2.3
Avg Household Size
30
Median Age
27%
College-Educated
89%
High-School Grad
98.1 sq mi
ZIP Area
224
Density / Sq Mi
$51,574
Median Household Income
$23,697
Median Earnings
$794
Median Rent
$163,500
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?
Medical Office Space - Medical office property with central air and an on-site parking lot.
Where is this medical office space located?
The property is located at 1622 SE Church Avenue Jacksonville, AL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Medical office property built in 2005; Central air conditioning; On‑site parking lot
