Flex Building with Garage
For Sale
$429,900
18710 Jefferson Street, Athens, AL 35614
Light industrial zoning accommodates warehouse, office, and workshop functionality near downtown Athens.
Property Size3,200 SF
Lot Size1.60 Acres
Price / SF$134.34
Days on Market141
Property Features for 18710 Jefferson Street
General Information
Standard status
Active
Size
3,200 SF
Lot size
1.60 Acres
Property subtype
Commercial
Zoning
Light Industrial
Additional Details
Drive-In Doors
3
Building Details
Building Size
3,200 SF
Buildings
1
Stories
1
Listing Agency:
Troy Elmore Realty & Auction
(256) 232-9604
Listed By:
Logan Elmore · License #88466
Source:
Alabamaland
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 11 at 1:48PM
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 Troy Elmore Realty & Auction
Investment Insights
Based on property information with market context.
This 3,200-square-foot flex building at 18710 Jefferson Street includes two 12-by-12-foot garage bays and one 10-by-12-foot bay. The configuration can support warehouse storage, office space, or workshop use, with ample parking on a 1.6-acre site.
The property is located 0.7 miles from downtown Athens, Alabama, providing a central setting for commercial operations. Light industrial zoning is in place, and the site includes additional area beyond the existing building.
The property is located 0.7 miles from downtown Athens, Alabama, providing a central setting for commercial operations. Light industrial zoning is in place, and the site includes additional area beyond the existing building.
Key Highlights
- 3,200‑square‑foot flex building on 1.6 acres
- Two 12x12 ft garage bays plus one 10x12 ft bay
- Light industrial zoning
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
$34,445
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
8.01%
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%
$688,900
$688.9K
Cap Rate 7%
$492,071
$492.1K
Cap Rate 9%
$382,722
$382.7K
Market Conditions
NOI Build-Up for 3,200 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
$57.6K $18.00/SF
− Vacancy
−$4.6K −$1.44/SF
EGI
$53.0K $16.56/SF
− OpEx
−$18.5K −$5.80/SF
NOI
$34.4K $10.76/SF
Area
Limestone County, AL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$688,900
Cap Rate 7%
$492,071
Cap Rate 9%
$382,722
Alternative Uses
Best Use
Office B
$584.0K
$511.0K – $681.4K
NOI $40,882 @ 7.0% cap · market cap 9.51%
Second Best
Flex RnD
$492.1K
$430.6K – $574.1K
NOI $34,445 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$833.3K
$729.1K – $972.2K
NOI $58,330 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35614, AL
7,788
Population
3,129
Households
2.5
Avg Household Size
41
Median Age
21%
College-Educated
87%
High-School Grad
64.5 sq mi
ZIP Area
121
Density / Sq Mi
$57,296
Median Household Income
$43,112
Median Earnings
$1,022
Median Rent
$178,200
Median Home Value
Market
Vacancy Rate% for Office 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?
Flex space - Light industrial zoning accommodates warehouse, office, and workshop functionality near downtown Athens.
Where is this flex space located?
The property is located at 18710 Jefferson Street Athens, AL.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: 3,200‑square‑foot flex building on 1.6 acres; Two 12x12 ft garage bays plus one 10x12 ft bay; Light industrial zoning
