Mixed-Use Property with
New
For Sale
$425,000
204 Main Street, Hartselle, AL 35640
Open commercial space connects with a three-bedroom residence, private patio, and dedicated rear parking.
Property Size4,576 SF
Price / SF$92.88
Days on Market4
Property Features for 204 Main Street
General Information
Standard status
Active
Size
4,576 SF
Total Parking Spaces
4
Property subtype
Commercial Building
Amenities
private office
bathroom
storage room
full kitchen
living room
large windows
private upstairs back patio
washer/dryer hookups
new HVAC unit
tankless water heater
Percentage of Tax that is Deductable: 0
Hardwood Floor, Laminate Floor
Has Central AC: 1
Forced Air Heating, Electric Heat Fuel
Sale, Sale Type: Foreclosure, Availability Date: 2026-09-11
2 Stories, Built in 1919
Above Area Square Feet: 4576
One Full Bath, One Half Bath
Construction Type: Masonry - Brick, Balcony, Deck
Brick Siding
Building Details
Year Built
1919
Buildings
1
Stories
2
Construction
brick
Listing Agency:
MARMAC COMMERCIAL REAL ESTATE
Listed By:
Mark Mizell · License #136684
(256) 214-2227
Source:
Doyle-realty
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 13 at 2:46PM
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 MARMAC COMMERCIAL REAL ESTATE
Investment Insights
Based on property information with market context.
This 4,576-square-foot mixed-use property combines a flexible commercial area with an upstairs residential component. The ground floor includes an open business layout, private office, bathroom, and storage room, with exposed brick and vintage ceiling tiles adding character. The upper level contains three bedrooms, one full bathroom, a kitchen, living room, washer/dryer hookups, and a private rear patio. Large windows overlook Main Street and downtown Hartselle.
Built in 1919, the property is located at 204 Main Street in Hartselle, Alabama. Four dedicated parking spaces are positioned behind the commercial area. Recent building improvements include a new HVAC unit and tankless water heater, supporting the property's combined business and residential configuration.
Built in 1919, the property is located at 204 Main Street in Hartselle, Alabama. Four dedicated parking spaces are positioned behind the commercial area. Recent building improvements include a new HVAC unit and tankless water heater, supporting the property's combined business and residential configuration.
Key Highlights
- 4,576‑square‑foot mixed‑use property built in 1919
- Ground‑floor commercial area with open layout, office, bathroom, and storage room
- Upstairs residence includes 3 bedrooms, 1 full bathroom, kitchen, and living room
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
$37,843
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
8.90%
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%
$756,860
$756.9K
Cap Rate 7%
$540,614
$540.6K
Cap Rate 9%
$420,478
$420.5K
Market Conditions
NOI Build-Up for 4,576 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
$60.4K $13.20/SF
− Vacancy
−$6.3K −$1.39/SF
EGI
$54.1K $11.81/SF
− OpEx
−$16.2K −$3.54/SF
NOI
$37.8K $8.27/SF
Area
Morgan County, AL
Vacancy
10.50%
Lease Rate
$13.20 /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%
$756,860
Cap Rate 7%
$540,614
Cap Rate 9%
$420,478
Alternative Uses
Best Use
Office B
$665.4K
$582.2K – $776.3K
NOI $46,579 @ 7.0% cap · market cap 10.96%
Second Best
Retail
$540.6K
$473.0K – $630.7K
NOI $37,843 @ 7.0% cap · market cap 8.90%
Theoretical Best
Office A
$952.0K
$833.0K – $1.11M
NOI $66,641 @ 7.0% cap · market cap 15.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
Explore this area
Business Placement
Demographics for 35640, AL
25,913
Population
11,023
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
106.9 sq mi
ZIP Area
242
Density / Sq Mi
$69,686
Median Household Income
$43,844
Median Earnings
$767
Median Rent
$196,600
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Open commercial space connects with a three-bedroom residence, private patio, and dedicated rear parking.
Where is this mixed-use property located?
The property is located at 204 Main Street Hartselle, AL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 4,576‑square‑foot mixed‑use property built in 1919; Ground‑floor commercial area with open layout, office, bathroom, and storage room; Upstairs residence includes 3 bedrooms, 1 full bathroom, kitchen, and living room
