Fitness Center with Open Floor
For Sale
$360,000
182 S Broad Street, Boaz, AL 35957
COMMERCIAL - Boaz, AL
Property Size6,000 SF
Lot Size0.17 Acres
Price / SF$60
Days on Market100
Property Features for 182 S Broad Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Gibson
Directions
Highway 431 South, Right On Al Highway 168, Left On S Broad, Property On Right On The Corner
Standard status
Active
APN
2401011004010.000
Size
6,000 SF
Lot size
0.17 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
open floor space
high ceilings
office/reception area
restrooms
Building Details
Floors in Building
1
Flooring type
Carpet
Listing Agency:
Main Street Realty Plus, LLC
(256) 400-1335
Listed By:
Gabe Henderson · License #121789
(256) 302-3125
Added: May 5
Changed: Aug 4
Last Checked: Aug 12 at 3:06PM
MLS# 21903479
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 6,000-square-foot commercial building at 182 S Broad Street is currently configured for sports and fitness use. The interior includes expansive open floor space, high ceilings, an office and reception area, restrooms, and carpeted flooring. The layout provides a substantial interior footprint for continued athletic use or a future commercial reconfiguration.
The property occupies 0.17 acres in downtown Boaz, with on-site parking and public water and sewer service. Its existing areas and utility connections provide a practical foundation for an owner-user or business seeking a centrally located commercial facility.
The property occupies 0.17 acres in downtown Boaz, with on-site parking and public water and sewer service. Its existing areas and utility connections provide a practical foundation for an owner-user or business seeking a centrally located commercial facility.
Key Highlights
- 6,000‑square‑foot commercial building configured for sports and fitness use
- Open interior floor area with high ceilings
- Office and reception area plus restrooms
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
$23,814
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
6.62%
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%
$476,280
$476.3K
Cap Rate 7%
$340,200
$340.2K
Cap Rate 9%
$264,600
$264.6K
Market Conditions
NOI Build-Up for 6,000 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
$36.0K $6.00/SF
− Vacancy
−$2.0K −$0.33/SF
EGI
$34.0K $5.67/SF
− OpEx
−$10.2K −$1.70/SF
NOI
$23.8K $3.97/SF
Area
Marshall County, AL
Vacancy
5.50%
Lease Rate
$6.00 /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%
$476,280
Cap Rate 7%
$340,200
Cap Rate 9%
$264,600
Alternative Uses
Best Use
Retail
$546.8K
$478.5K – $637.9K
NOI $38,276 @ 7.0% cap · market cap 10.63%
Second Best
Flex RnD
$492.1K
$430.6K – $574.1K
NOI $34,445 @ 7.0% cap · market cap 9.57%
Theoretical Best
Office A
$1.30M
$1.13M – $1.51M
NOI $90,651 @ 7.0% cap · market cap 25.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35957, AL
16,849
Population
6,755
Households
2.5
Avg Household Size
36
Median Age
13%
College-Educated
85%
High-School Grad
78.3 sq mi
ZIP Area
215
Density / Sq Mi
$53,859
Median Household Income
$35,277
Median Earnings
$679
Median Rent
$142,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Elite Fitness 256 — 110 S Main St, Boaz, AL 35957
- Plunkett Wallace Gym, Snead State CC — 509 W Mann Ave, Boaz, AL 35957
- Willmore Total Fitness - Boaz — 200 Elizabeth St Suite 459, Boaz, AL 35957
- Creel's Athelite Nation — Piper Station Shopping Center, 214 S McCleskey St Ste 877, Boaz, AL 35957
- Regulator’s Building — 182 S Broad St, Boaz, AL 35957
Frequently Asked Questions
What type of property is this?
Fitness center & gym - Existing reception, offices, restrooms, and high ceilings support varied commercial layouts.
Where is this fitness center & gym located?
The property is located at 182 S Broad Street Boaz, AL.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 6,000‑square‑foot commercial building configured for sports and fitness use; Open interior floor area with high ceilings; Office and reception area plus restrooms
