Five-Unit Townhouse
For Sale
$600,000
1801 Glenn Street, Decatur, AL 35603
Five individually deeded townhomes are offered together, with tenants responsible for their own utilities.
Property Size6,624 SF
Price / SF$90.58
Days on Market213
Property Features for 1801 Glenn Street
General Information
Standard status
Active
Size
6,624 SF
Total Parking Spaces
10
Property subtype
Multi Family Home
Units
Unit Mix
3 x 3br, 2 x 2br
Multifamily Units
5
Building Details
Building Size
6,624 SF
Year Built
1988
Buildings
1
Stories
2
Units
5
Listing Agency:
Southern Oak Properties, Inc
(256) 350-2424
Listed By:
Blake Wright · License #88094
(256) 350-2424
Source:
Alabamaland
Added: Jan 31
Changed: Aug 30
Last Checked: Aug 31 at 5:09PM
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 Southern Oak Properties, Inc
Investment Insights
Based on property information with market context.
This multifamily property comprises five townhomes offered as a single package, with each residence situated on its own deeded lot. The buildings provide a combined 6,624 square feet and were constructed in 1988. The property is being sold in its current condition, and tenants pay their own utilities while the owner handles lawn maintenance across all five residences.
The property is located at 1801 Glenn Street in Decatur, near the Beltline, shopping, and restaurants. The sale includes five parcels: 02-07-36-3-000-073.000, 02-07-36-3-000-074.000, 02-07-36-3-000-075.000, 02-07-36-3-000-076.000, and 02-07-36-3-000-077.000.
The property is located at 1801 Glenn Street in Decatur, near the Beltline, shopping, and restaurants. The sale includes five parcels: 02-07-36-3-000-073.000, 02-07-36-3-000-074.000, 02-07-36-3-000-075.000, 02-07-36-3-000-076.000, and 02-07-36-3-000-077.000.
Key Highlights
- Five townhomes sold together as one multifamily offering
- Each residence occupies an individual deeded lot
- Combined property size of 6,624 square feet
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
$50,440
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
8.41%
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%
$1,008,800
$1.0M
Cap Rate 7%
$720,571
$720.6K
Cap Rate 9%
$560,444
$560.4K
Market Conditions
NOI Build-Up for 6,624 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
$97.8K $14.76/SF
− Vacancy
−$6.1K −$0.92/SF
EGI
$91.7K $13.84/SF
− OpEx
−$41.3K −$6.23/SF
NOI
$50.4K $7.61/SF
Area
Morgan County, AL
Vacancy
6.20%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$1,008,800
Cap Rate 7%
$720,571
Cap Rate 9%
$560,444
Alternative Uses
Best Use
Apartment 5plus
$720.6K
$630.5K – $840.7K
NOI $50,440 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,467 @ 7.0% cap · market cap 16.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 35603, AL
32,380
Population
14,509
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
71.0 sq mi
ZIP Area
456
Density / Sq Mi
$78,237
Median Household Income
$47,458
Median Earnings
$857
Median Rent
$235,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five individually deeded townhomes are offered together, with tenants responsible for their own utilities.
Where is this apartment building located?
The property is located at 1801 Glenn Street Decatur, AL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Five townhomes sold together as one multifamily offering; Each residence occupies an individual deeded lot; Combined property size of 6,624 square feet
