Four-Unit Office
For Sale
$325,000
1803 Somerville Road, Decatur, AL 35601
Flexible office layouts include a suite with a private bathroom and stand-up shower.
Property Size2,400 SF
Price / SF$135.42
Days on Market89
Property Features for 1803 Somerville Road
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Office
Additional Details
Utilities to Site
Yes
Office Units
4
Property Use
Office
Building Details
Building Size
2,400 SF
Year Built
1987
Listing Agency:
Keller Williams Realty Madison
Listed By:
Patricia Kruse · License #126560
(256) 542-1894
Source:
Intownpartners
Added: Aug 1
Changed: Oct 28
Last Checked: Oct 27 at 4:08AM
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 Keller Williams Realty Madison
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Investment Insights
Based on property information with market context.
This 2,400-square-foot office property contains four spaces with distinct layouts. One suite is vacant and was previously configured for salon use. A separate office includes a bathroom and stand-up shower, while the common entrance hall has both an accessible restroom and a standard restroom. Front and rear entrances provide access to the building. A new roof and upgraded electrical service are installed.
Built in 1987, the property is located at 1803 Somerville Road in Decatur, Alabama.
Built in 1987, the property is located at 1803 Somerville Road in Decatur, Alabama.
Key Highlights
- Four office spaces with different layouts
- One vacant suite previously used as a hair salon
- Private bathroom and stand‑up shower in one office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,430
Cap Rate
7.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$488,600
$488.6K
Cap Rate 7%
$349,000
$349.0K
Cap Rate 9%
$271,444
$271.4K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$41.8K $17.40/SF
− Vacancy
−$9.2K −$3.83/SF
EGI
$32.6K $13.57/SF
− OpEx
−$8.1K −$3.39/SF
NOI
$24.4K $10.18/SF
Area
Morgan County, AL
Vacancy
22.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$488,600
Cap Rate 7%
$349,000
Cap Rate 9%
$271,444
Alternative Uses
Best Use
Office B
$349.0K
$305.4K – $407.2K
NOI $24,430 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$499.3K
$436.9K – $582.5K
NOI $34,952 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Office units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
805
Businesses Nearby
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Flexible office layouts include a suite with a private bathroom and stand-up shower.
Where is this office unit located?
The property is located at 1803 Somerville Road Decatur, AL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Four office spaces with different layouts; One vacant suite previously used as a hair salon; Private bathroom and stand‑up shower in one office
