Four-Suite Office
For Sale
$325,000
1803 Somerville Road, Decatur, AL 35601
Business Opportunity, Decatur, AL
Property Size2,400 SF
Lot Size0.15 Acres
Price / SF$135.42
Days on Market92
Property Features for 1803 Somerville Road
General Information
Property type
Residential
Property subtype
Office
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Accessibility
Accessible Doors
Directions
From I565 W Heading To Decatur Continue On Us72 Alt W And Turn L Onto Church St, Then R Onto Somerville. Follow Somerville Rd Until You Reach 1803 Somerville Rd On The Right.
Standard status
Active
APN
0309294003009.004
Size
2,400 SF
Lot size
0.15 Acres
Additional Details
Property Use
Office
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1987
Floors in Building
1
Flooring type
Carpet, Vinyl
Roof type
Shingle
Listing Agency:
Keller Williams Realty Madison
(256) 319-3700
Listed By:
Patricia Kruse · License #126560
(256) 542-1894
Added: Aug 1
Changed: Oct 31
Last Checked: Oct 31 at 11:06PM
MLS# 21925370
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Investment Insights
Based on property information with market context.
This 2,400-square-foot office building contains four office spaces, each with a different layout. One space is vacant and was previously used as a hair salon. A separate office includes a bathroom and stand-up shower, while the main entrance hall has both an accessible bathroom and a regular bathroom.
Recent improvements include a new shingle roof and upgraded electrical service. Front and rear entrance doors provide access to the building, which was built in 1987 and sits on a 0.15-acre lot. Interior flooring includes vinyl and carpet; public water and sewer serve the property.
Recent improvements include a new shingle roof and upgraded electrical service. Front and rear entrance doors provide access to the building, which was built in 1987 and sits on a 0.15-acre lot. Interior flooring includes vinyl and carpet; public water and sewer serve the property.
Key Highlights
- Four office spaces with distinct layouts
- One office includes a bathroom and stand‑up shower
- Main hallway has an accessible bathroom and a separate regular bathroom
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
4
Office units
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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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Distinct office layouts include a suite with a private bathroom and stand-up shower.
Where is this office building 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 distinct layouts; One office includes a bathroom and stand‑up shower; Main hallway has an accessible bathroom and a separate regular bathroom
