Flex Property with Office and
For Sale
$4,995,000
1801 64th Avenue, Northport, AL 35476
Versatile commercial facility combining finished office areas, warehouse capacity, and a paved yard for parking or operations.
Property Size21,465 SF
Price / SF$232.70
Days on Market36
Property Features for 1801 64th Avenue
General Information
Standard status
Active
Size
21,465 SF
Property subtype
Commercial
Building Details
Year Built
2020
Listing Agency:
Pritchett Moore Real Estate
(205) 349-6500
Listed By:
Steven Deal · License #118593505
Source:
Alicemaxwell
Added: Jul 25
Changed: Aug 29
Last Checked: Aug 25 at 3:42AM
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 Pritchett Moore Real Estate
Investment Insights
Based on property information with market context.
This flex property combines 6,620 SF of office space with 14,844 SF of warehouse area. The office component includes a showroom, customer service area, six private offices, conference room, breakroom, file room, ADA-compliant multi-stall restrooms, and approximately 1,100 SF of unfinished expansion space. Warehouse features include 20-foot eave heights and three 12-foot by 10-foot roll-up doors.
The site provides 28 front parking spaces along with a nearly 1-acre paved yard and parking area. Access is minutes from I-20/59 and less than 1,000 feet from US-82, which carries 30,000 VPD. Chick-fil-A, Lowe's, ALDI, Big Mike's Steakhouse, Jack's, and other major retailers are located nearby.
The site provides 28 front parking spaces along with a nearly 1-acre paved yard and parking area. Access is minutes from I-20/59 and less than 1,000 feet from US-82, which carries 30,000 VPD. Chick-fil-A, Lowe's, ALDI, Big Mike's Steakhouse, Jack's, and other major retailers are located nearby.
Key Highlights
- 6,620 SF of office space and 14,844 SF of warehouse area
- Warehouse includes 20' eave heights and three 12' x 10' roll‑up doors
- Office layout includes six private offices, showroom, customer service area, and conference room
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
$248,629
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
4.98%
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%
$4,972,580
$5.0M
Cap Rate 7%
$3,551,843
$3.6M
Cap Rate 9%
$2,762,544
$2.8M
Market Conditions
NOI Build-Up for 21,465 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
$425.0K $19.80/SF
− Vacancy
−$93.5K −$4.36/SF
EGI
$331.5K $15.44/SF
− OpEx
−$82.9K −$3.86/SF
NOI
$248.6K $11.58/SF
Area
Tuscaloosa County, AL
Vacancy
22.00%
Lease Rate
$19.80 /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%
$4,972,580
Cap Rate 7%
$3,551,843
Cap Rate 9%
$2,762,544
Alternative Uses
Best Use
Office B
$3.55M
$3.11M – $4.14M
NOI $248,629 @ 7.0% cap · market cap 4.98%
Second Best
Flex RnD
$2.37M
$2.08M – $2.77M
NOI $166,129 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$5.16M
$4.51M – $6.02M
NOI $361,076 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35476, AL
8,697
Population
3,597
Households
2.4
Avg Household Size
36
Median Age
23%
College-Educated
86%
High-School Grad
6.9 sq mi
ZIP Area
1,260
Density / Sq Mi
$59,545
Median Household Income
$37,304
Median Earnings
$940
Median Rent
$196,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Southern Dining Resources — 1786 Harper Rd, Northport, AL 35476
Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial facility combining finished office areas, warehouse capacity, and a paved yard for parking or operations.
Where is this flex space located?
The property is located at 1801 64th Avenue Northport, AL.
What is the asking price?
The asking price for this property is $4,995,000.
What are key features of this property?
This property features: 6,620 SF of office space and 14,844 SF of warehouse area; Warehouse includes 20' eave heights and three 12' x 10' roll‑up doors; Office layout includes six private offices, showroom, customer service area, and conference room
