Mixed-Use Building with Warehouse
For Sale
$799,000
1907 24th Street, Northport, AL 35476
Corner-positioned property combines office, retail, and warehouse space with storefront exposure along a commercial corridor.
Property Size6,030 SF
Price / SF$132.50
Days on Market129
Property Features for 1907 24th Street
General Information
Standard status
Active
Size
6,030 SF
Property subtype
Mixed Use
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,891
Amenities
3
Irregular
Building Details
Buildings
1
Listing Agency:
Harwood Real Estate LLC
(205) 292-1346
Listed By:
Neal Dichiara · License #118535018
(205) 292-1346
Source:
Xome
Added: Apr 24
Changed: Aug 30
Last Checked: Aug 25 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 Harwood Real Estate LLC
Investment Insights
Based on property information with market context.
This 6,030-square-foot corner building brings together office, warehouse, and retail components in one flexible commercial property. The layout includes storefront exposure and warehouse access, supporting the range of business functions described for the space.
The property fronts Lurleen B. Wallace Blvd and is addressed at 1907 24th Street in Northport, Alabama. A portion of the office area is leased on a short-term basis, creating current income while retaining flexibility for future occupancy. The combination of separate commercial functions and street-facing retail presence accommodates both owner-user and investment considerations.
The property fronts Lurleen B. Wallace Blvd and is addressed at 1907 24th Street in Northport, Alabama. A portion of the office area is leased on a short-term basis, creating current income while retaining flexibility for future occupancy. The combination of separate commercial functions and street-facing retail presence accommodates both owner-user and investment considerations.
Key Highlights
- 6,030‑square‑foot mixed‑use building
- Corner property fronting Lurleen B. Wallace Blvd
- Office, warehouse, and retail components
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
$71,625
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
8.96%
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%
$1,432,500
$1.4M
Cap Rate 7%
$1,023,214
$1.0M
Cap Rate 9%
$795,833
$795.8K
Market Conditions
NOI Build-Up for 6,030 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
$126.6K $21.00/SF
− Vacancy
−$12.0K −$2.00/SF
EGI
$114.6K $19.01/SF
− OpEx
−$43.0K −$7.13/SF
NOI
$71.6K $11.88/SF
Area
Tuscaloosa County, AL
Vacancy
9.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,432,500
Cap Rate 7%
$1,023,214
Cap Rate 9%
$795,833
Alternative Uses
Best Use
Mixed Use
$1.02M
$895.3K – $1.19M
NOI $71,625 @ 7.0% cap · market cap 8.96%
Second Best
Office B
$997.8K
$873.1K – $1.16M
NOI $69,845 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,434 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
Explore this area
Business Placement
Demographics for 35476, AL
8,697
Population
3,597
Households
2.4
Avg Household Size
36
Median Age
23%
College-Educated
86%
High-School Grad
6.9 sq mi
ZIP Area
1,260
Density / Sq Mi
$59,545
Median Household Income
$37,304
Median Earnings
$940
Median Rent
$196,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner-positioned property combines office, retail, and warehouse space with storefront exposure along a commercial corridor.
Where is this mixed-use property located?
The property is located at 1907 24th Street Northport, AL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 6,030‑square‑foot mixed‑use building; Corner property fronting Lurleen B. Wallace Blvd; Office, warehouse, and retail components
