Converted Commercial Office/Retail
For Sale
$515,000
16320 Silverhill Ave, Silverhill, AL 36576
Former residence converted to commercial use with multiple storage buildings and a pole barn on 1.4 acres.
Property Size2,574 SF
Lot Size1.40 Acres
Price / SF$200.08
Days on Market166
Property Features for 16320 Silverhill Ave
General Information
Standard status
Active
Size
2,574 SF
Lot size
1.40 Acres
Property subtype
Commercial
Building Details
Year Built
1950
Listing Agency:
Courtney and Morris Springhill
Listed By:
Joseph M Courtney PHONE · License #143954-2
(251) 622-3590
Source:
Gulfcoasthomesalabama
Added: May 17
Changed: Oct 25
Last Checked: Oct 28 at 8:29AM
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 Courtney and Morris Springhill
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Investment Insights
Based on property information with market context.
This for-sale property includes a 2,574 SF commercial building that was converted from a former residence to commercial use. The site also features three additional storage buildings and a pole barn, offering extra space for inventory, storage, or other site needs. Buyer to verify all information during due diligence.
The property is offered at 16320 Silverhill Ave in Silverhill, AL. The flexible interior and multiple outbuildings may support a range of commercial uses, including office or retail, subject to buyer verification.
On a 1.4-acre site, the improvements provide a primary commercial building plus supplementary storage structures, creating a practical configuration for businesses that require both workspace and on-site storage.
The property is offered at 16320 Silverhill Ave in Silverhill, AL. The flexible interior and multiple outbuildings may support a range of commercial uses, including office or retail, subject to buyer verification.
On a 1.4-acre site, the improvements provide a primary commercial building plus supplementary storage structures, creating a practical configuration for businesses that require both workspace and on-site storage.
Key Highlights
- 2,574 SF commercial property converted from a former residence for office, retail, or other commercial uses
- Set on 1.4 acres with three additional storage buildings and a pole barn
- Includes multiple outbuildings suitable for storage or support space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,023
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$600,460
$600.5K
Cap Rate 7%
$428,900
$428.9K
Cap Rate 9%
$333,589
$333.6K
Market Conditions
NOI Build-Up for 2,574 SF
Gross rent
$49.4K $19.20/SF
− Vacancy
−$9.4K −$3.65/SF
EGI
$40.0K $15.55/SF
− OpEx
−$10.0K −$3.89/SF
NOI
$30.0K $11.66/SF
Area
Baldwin County, AL
Vacancy
19.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$600,460
Cap Rate 7%
$428,900
Cap Rate 9%
$333,589
Alternative Uses
Best Use
Office B
$428.9K
$375.3K – $500.4K
NOI $30,023 @ 7.0% cap · market cap 5.83%
Second Best
Retail
$395.7K
$346.2K – $461.6K
NOI $27,697 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$619.0K
$541.6K – $722.2K
NOI $43,330 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
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Business Placement
Demographics for 36576, AL
5,228
Population
2,183
Households
2.4
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
19.5 sq mi
ZIP Area
268
Density / Sq Mi
$78,227
Median Household Income
$43,992
Median Earnings
$985
Median Rent
$235,600
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Former residence converted to commercial use with multiple storage buildings and a pole barn on 1.4 acres.
Where is this office unit located?
The property is located at 16320 Silverhill Ave Silverhill, AL.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: 2,574 SF commercial property converted from a former residence for office, retail, or other commercial uses; Set on 1.4 acres with three additional storage buildings and a pole barn; Includes multiple outbuildings suitable for storage or support space
