Flex Space with Paint
For Sale
$649,900
195 Spout Springs Rd, Muscle Shoals, AL 35661
Commercial Sale, Muscle Shoals, AL
Property Size8,600 SF
Lot Size6.65 Acres
Price / SF$75.57
Days on Market168
Property Features for 195 Spout Springs Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
R1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Garage, Driveway
Patio and Porch features
Porch
Elementary school
County
Middle school
County
High school
County
Directions
From River Rd, go 807 miles to Spout Springs Rd. Turn left. Building in on the left
Subdivision
Colbert
Standard status
Active
APN
09-05-16-0-002-008.001
Size
8,600 SF
Lot size
6.65 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
6.65 acres in SW 1/4 of SE 1/4 DB 2022 PG 25392-25391
Tax Annual Amount
280
Legal Description
6.65 acres in SW 1/4 of SE 1/4 DB 2022 PG 25392-25391
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
2026
Flooring type
Concrete
Building materials
Metal Siding, Steel Siding
Roof type
Metal
Listing Agency:
CRC Realty, Inc.
(256) 718-0111
Listed By:
Anne Olive · License #000059533
(256) 810-8824
Added: Apr 13
Changed: Sep 14
Last Checked: Sep 27 at 11:06AM
MLS# 528211
Copyright © 2026 Strategic MLS Alliance, 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 8,600-square-foot flex property on 6.65 acres is an under-construction metal building with concrete floors and a practical mix of finished and unfinished space. The framed finished area measures 80 x 24 and has central heating and cooling, electricity, and plumbing in place, although completion work remains. A 30 x 19 paint booth adds specialized utility. Four-zone central HVAC and an industrial-sized fan support climate control throughout the building.
Exterior improvements include a 75 x 20 covered front porch, a 50 x 20 rear covered porch, extensive concrete work, a driveway, and additional parking. The property has a metal roof, public water, a septic tank system, garage parking, and a 2026 construction date. Located at 195 Spout Springs Rd in Muscle Shoals, Alabama, the offering includes a 5-acre first parcel and a 1.65-acre second parcel.
Exterior improvements include a 75 x 20 covered front porch, a 50 x 20 rear covered porch, extensive concrete work, a driveway, and additional parking. The property has a metal roof, public water, a septic tank system, garage parking, and a 2026 construction date. Located at 195 Spout Springs Rd in Muscle Shoals, Alabama, the offering includes a 5-acre first parcel and a 1.65-acre second parcel.
Key Highlights
- 8,600 square feet on 6.65 acres
- 30 x 19 paint booth
- 80 x 24 framed finished space with electricity and plumbing in place
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
$46,285
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
7.12%
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%
$925,700
$925.7K
Cap Rate 7%
$661,214
$661.2K
Cap Rate 9%
$514,278
$514.3K
Market Conditions
NOI Build-Up for 8,600 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
$77.4K $9.00/SF
− Vacancy
−$6.2K −$0.72/SF
EGI
$71.2K $8.28/SF
− OpEx
−$24.9K −$2.90/SF
NOI
$46.3K $5.38/SF
Area
Colbert County, AL
Vacancy
8.00%
Lease Rate
$9.00 /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%
$925,700
Cap Rate 7%
$661,214
Cap Rate 9%
$514,278
Alternative Uses
Best Use
Flex RnD
$661.2K
$578.6K – $771.4K
NOI $46,285 @ 7.0% cap · market cap 7.12%
Second Best
Industrial
$489.2K
$428.0K – $570.7K
NOI $34,242 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,133 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35661, AL
18,714
Population
8,911
Households
2.1
Avg Household Size
42
Median Age
24%
College-Educated
91%
High-School Grad
51.2 sq mi
ZIP Area
366
Density / Sq Mi
$66,726
Median Household Income
$43,826
Median Earnings
$917
Median Rent
$189,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Under-construction metal building with finished conditioned space, concrete flooring, covered porches, and a dedicated paint booth.
Where is this flex space located?
The property is located at 195 Spout Springs Rd Muscle Shoals, AL.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 8,600 square feet on 6.65 acres; 30 x 19 paint booth; 80 x 24 framed finished space with electricity and plumbing in place
