Mixed-Use Property with
New
For Sale
$964,000
17915 W Elm Street, Athens, AL 35611
Business Opportunity, Athens, AL
Property Size7,200 SF
Lot Size2.40 Acres
Price / SF$133.89
Days on Market1
Property Features for 17915 W Elm Street
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Head Nw On Market St Towards Lucas Ferry Rd. Turn Right Onto Lucas Ferry Rd. Continue Past Stop Sign And The Property Will Be On The Left.
Standard status
Active
APN
06 07 36 0 001 002.002
Size
7,200 SF
Lot size
2.40 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
heated and cooled space
new tile flooring
updated ADA restrooms
commercial kitchen
Building Details
Floors in Building
1
Flooring type
Tile
Listing Agency:
Access Real Estate
(256) 822-2548
Listed By:
Sam Mozeb · License #90515
(256) 309-7556
Added: Aug 25
Last Checked: Aug 25 at 6:06PM
MLS# 21927351
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Investment Insights
Based on property information with market context.
This mixed-use property contains 7,200 square feet of heated and cooled space on a 2.4-acre corner lot. Interior improvements include new tile flooring, updated ADA restrooms, and a commercial kitchen, providing a functional base for a range of commercial or community-oriented layouts.
The property is located at 17915 W Elm Street in Athens, Alabama. Public water and public sewer serve the site. Its existing improvements and adaptable interior support consideration for event, meeting, worship, nonprofit, hospitality, or other commercial uses identified for the property.
The property is located at 17915 W Elm Street in Athens, Alabama. Public water and public sewer serve the site. Its existing improvements and adaptable interior support consideration for event, meeting, worship, nonprofit, hospitality, or other commercial uses identified for the property.
Key Highlights
- 7,200 SF of heated and cooled space
- 2.4‑acre corner lot
- Commercial kitchen included
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
$86,940
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
9.02%
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%
$1,738,800
$1.7M
Cap Rate 7%
$1,242,000
$1.2M
Cap Rate 9%
$966,000
$966.0K
Market Conditions
NOI Build-Up for 7,200 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
$151.2K $21.00/SF
− Vacancy
−$12.1K −$1.68/SF
EGI
$139.1K $19.32/SF
− OpEx
−$52.2K −$7.25/SF
NOI
$86.9K $12.08/SF
Area
Limestone County, AL
Vacancy
8.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,738,800
Cap Rate 7%
$1,242,000
Cap Rate 9%
$966,000
Alternative Uses
Best Use
Mixed Use
$1.24M
$1.09M – $1.45M
NOI $86,940 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.64M – $2.19M
NOI $131,242 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Heated and cooled space includes updated ADA restrooms and a commercial kitchen.
Where is this mixed-use property located?
The property is located at 17915 W Elm Street Athens, AL.
What is the asking price?
The asking price for this property is $964,000.
What are key features of this property?
This property features: 7,200 SF of heated and cooled space; 2.4‑acre corner lot; Commercial kitchen included
