4-Unit Freestanding Flex
For Sale
$360,000
1718 Creighton Avenue, Decatur, AL 35601
Front office areas pair with rear flex space, roll-up access, and updated roofing and HVAC.
Property Size5,000 SF
Price / SF$72
Days on Market175
Property Features for 1718 Creighton Avenue
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Commercial
Financials
Asking Price
$360,000
Cap Rate
9.78%
Additional Details
Office Units
4
Building Details
Building Size
5,000 SF
Year Renovated
2024
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Marmac Real Estate
(256) 250-6009
Listed By:
Tony Parker · License #115987
(256) 250-6009
Source:
Alabamaland
Added: Mar 10
Changed: Aug 31
Last Checked: Jul 20 at 4:22PM
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 Marmac Real Estate
Investment Insights
Based on property information with market context.
Located at 1718 Creighton Avenue in Decatur, Alabama, this freestanding flex property contains 5,000 square feet across four 1,250-square-foot units. Each unit combines front office space with a rear entrance and flexible work area, while the building provides three roll-up doors and one standard door.
Two units were remodeled in 2024 with an entry hall, four offices, a break area, and conference or flex space. The roof was installed in 2023 with a 20-year designation, and new AC was added the same year. Two front-office and rear-flex units are leased through August 31, 2026. The property carries a 9.78 cap rate.
Two units were remodeled in 2024 with an entry hall, four offices, a break area, and conference or flex space. The roof was installed in 2023 with a 20-year designation, and new AC was added the same year. Two front-office and rear-flex units are leased through August 31, 2026. The property carries a 9.78 cap rate.
Key Highlights
- 5,000‑square‑foot freestanding flex property with 4 units at 1,250 square feet each
- Three roll‑up doors plus one standard door
- Two units remodeled in 2024 with four offices, break area, and conference or flex space
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
$30,039
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
8.34%
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%
$600,780
$600.8K
Cap Rate 7%
$429,129
$429.1K
Cap Rate 9%
$333,767
$333.8K
Market Conditions
NOI Build-Up for 5,000 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
$49.8K $9.96/SF
− Vacancy
−$3.6K −$0.72/SF
EGI
$46.2K $9.24/SF
− OpEx
−$16.2K −$3.24/SF
NOI
$30.0K $6.01/SF
Area
Morgan County, AL
Vacancy
7.20%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
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%
$600,780
Cap Rate 7%
$429,129
Cap Rate 9%
$333,767
Alternative Uses
Best Use
Office B
$727.1K
$636.2K – $848.3K
NOI $50,895 @ 7.0% cap · market cap 14.14%
Second Best
Flex RnD
$429.1K
$375.5K – $500.7K
NOI $30,039 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$1.04M
$910.2K – $1.21M
NOI $72,816 @ 7.0% cap · market cap 20.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,103
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35601, AL
34,958
Population
15,168
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
77%
High-School Grad
26.5 sq mi
ZIP Area
1,319
Density / Sq Mi
$50,216
Median Household Income
$33,438
Median Earnings
$860
Median Rent
$148,100
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?
Flex space - Front office areas pair with rear flex space, roll-up access, and updated roofing and HVAC.
Where is this flex space located?
The property is located at 1718 Creighton Avenue Decatur, AL.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 5,000‑square‑foot freestanding flex property with 4 units at 1,250 square feet each; Three roll‑up doors plus one standard door; Two units remodeled in 2024 with four offices, break area, and conference or flex space
