Brick
For Sale
$425,000
1816 SW Glenn Street, Decatur, AL 35603
MULTI_FAMILY - Decatur, AL
Property Size3,448 SF
Lot Size0.25 Acres
Price / SF$123.26
Days on Market30
Property Features for 1816 SW Glenn Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Off Street
Patio and Porch features
Porch, Patio
Exterior features
Balcony
Appliances
Oven, Refrigerator, Dishwasher, W/D Hookup, Electric Water Heater
Subdivision
Metes And Bounds
Elementary school
Austinville
Middle school
Austin Middle
High school
Austin
Directions
Driving South On 31 (72alt), Turn Right Onto Moulton St. W, Then Left Onto Memorial Dr. Sw, Left Onto Glenn St. Just Before Big Bob Gibson Bbq, Property Will Be On The Left
Standard status
Active
APN
02 07 36 3 000 005.010
Size
3,448 SF
Lot size
0.25 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Number of units
4
Listing Agency:
Gateway Al Realty Group LLC
(256) 509-2078
Listed By:
Len Johnson · License #40398
(256) 509-2078
Added: Jul 16
Changed: Aug 4
Last Checked: Aug 14 at 8:06PM
MLS# 21879318
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,448-square-foot quadplex was built in 1985 and features an all-brick exterior. The property is fully occupied and includes balconies, porches, patios, and off-street parking. Interior equipment includes ovens, refrigerators, dishwashers, washer and dryer hookups, and electric water heaters. Central electric heating and central air conditioning serve the building.
Set on 0.25 acres, the property is supported by public water and public sewer. Tenants pay their own electric service, while ownership covers water and trash. The asset is located near shopping and restaurants in Decatur, Alabama.
Set on 0.25 acres, the property is supported by public water and public sewer. Tenants pay their own electric service, while ownership covers water and trash. The asset is located near shopping and restaurants in Decatur, Alabama.
Key Highlights
- 3,448‑square‑foot quadplex on 0.25 acres
- All‑brick building constructed in 1985
- Full occupancy
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
$28,435
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
6.69%
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%
$568,700
$568.7K
Cap Rate 7%
$406,214
$406.2K
Cap Rate 9%
$315,944
$315.9K
Market Conditions
NOI Build-Up for 3,448 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
$43.4K $12.60/SF
− Vacancy
−$2.8K −$0.82/SF
EGI
$40.6K $11.78/SF
− OpEx
−$12.2K −$3.53/SF
NOI
$28.4K $8.25/SF
Area
Morgan County, AL
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
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%
$568,700
Cap Rate 7%
$406,214
Cap Rate 9%
$315,944
Alternative Uses
Best Use
Multifamily LT 5
$406.2K
$355.4K – $473.9K
NOI $28,435 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$375.1K
$328.2K – $437.6K
NOI $26,255 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$717.3K
$627.7K – $836.9K
NOI $50,214 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
611
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied income property with off-street parking, central HVAC, and public water and sewer service.
Where is this quadplex located?
The property is located at 1816 SW Glenn Street Decatur, AL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,448‑square‑foot quadplex on 0.25 acres; All‑brick building constructed in 1985; Full occupancy
