Three-Unit Office
New
For Sale
$839,000
1943 Berry chase Place, Montgomery, AL 36117
CommercialSale, Montgomery, AL
Property Size5,000 SF
Price / SF$167.80
Days on Market1
Property Features for 1943 Berry chase Place
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business, Office
Parking
22
Middle school
,
Directions
From Taylor Road to East chase coming to Berry chase
Subdivision
MONT-E Mont County
Standard status
Active
Size
5,000 SF
Taxes and HOA fees
Tax Description
BK 51 PG 70 OAKHILL2 LOT14 BLOCK A Sec21 T 16N R 19E
Legal Description
BK 51 PG 70 OAKHILL2 LOT14 BLOCK A Sec21 T 16N R 19E
Utilities
Cooling system
Multi Units
Building Details
Year built
2017
Flooring type
Carpet, Plank, Vinyl
Building materials
BrickVeneer
Listing Agency:
Capital Rlty Grp River Region
(334) 356-8045
Listed By:
Sung Chun · License #0090016
(334) 324-5717
Added: Sep 8
Last Checked: Sep 8 at 11:06PM
MLS# 590312
Copyright © 2026 Montgomery Area Association of Realtors MLS. 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 5,000-square-foot office property contains three units within a brick veneer building completed in 2017. Interior finishes include carpet, plank, and vinyl flooring, while cooling is provided by multiple units.
The property is located at 1943 Berry Chase Place in Montgomery, Alabama, with a 36117 ZIP code. Its three-unit configuration provides a defined office layout for commercial occupancy.
The property is located at 1943 Berry Chase Place in Montgomery, Alabama, with a 36117 ZIP code. Its three-unit configuration provides a defined office layout for commercial occupancy.
Key Highlights
- 5,000 square feet of office space
- Three office units
- Built in 2017
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
$55,350
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
6.60%
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%
$1,107,000
$1.1M
Cap Rate 7%
$790,714
$790.7K
Cap Rate 9%
$615,000
$615.0K
Market Conditions
NOI Build-Up for 5,000 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
$90.0K $18.00/SF
− Vacancy
−$16.2K −$3.24/SF
EGI
$73.8K $14.76/SF
− OpEx
−$18.5K −$3.69/SF
NOI
$55.4K $11.07/SF
Area
Montgomery, AL
Vacancy
18.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,107,000
Cap Rate 7%
$790,714
Cap Rate 9%
$615,000
Alternative Uses
Best Use
Office B
$790.7K
$691.9K – $922.5K
NOI $55,350 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$907.2K – $1.21M
NOI $72,576 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Explore this area
Business Placement
Demographics for 36117, AL
53,172
Population
24,181
Households
2.2
Avg Household Size
38
Median Age
46%
College-Educated
94%
High-School Grad
53.3 sq mi
ZIP Area
998
Density / Sq Mi
$72,237
Median Household Income
$44,980
Median Earnings
$1,209
Median Rent
$225,900
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?
Office units - Brick veneer construction with carpet, plank, and vinyl flooring.
Where is this office units located?
The property is located at 1943 Berry chase Place Montgomery, AL.
What is the asking price?
The asking price for this property is $839,000.
What are key features of this property?
This property features: 5,000 square feet of office space; Three office units; Built in 2017
