Brick Mixed-Use
New
For Sale
$425,000
204 Main Street, Hartselle, AL 35640
Commercial Sale, Hartselle, AL
Property Size4,576 SF
Price / SF$92.88
Days on Market4
Property Features for 204 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 2, Bathroom 1
Patio and Porch features
Deck
Standard status
Active
APN
15 02 10 4 010 004.000
Size
4,576 SF
Utilities
Heating system
Electric (Heating), Forced Air
Amenities
private office
bathroom
storage room
washer/dryer hookups
private upstairs back patio
new HVAC unit
tankless water heater
Building Details
Year built
1919
Floors in Building
2
Flooring type
Laminate, Hardwood
Building materials
Brick
Listing Agency:
MARMAC COMMERCIAL REAL ESTATE
Listed By:
Mark Mizell · License #136684
(256) 214-2227
Added: Sep 11
Last Checked: Sep 14 at 3:06AM
MLS# 11975632
Copyright © 2026 My State 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.
Built in 1919, this 4,576-square-foot brick mixed-use property at 204 Main Street combines a commercial area with an upstairs residence. The business level has an open floor plan, private office, bathroom, storage room, vintage ceiling tiles, and exposed brick. The residential level includes 3 bedrooms, 1 full bathroom, a kitchen, living room, washer/dryer hookups, and a private rear deck. Large windows face Main Street and downtown Hartselle.
The property includes four dedicated parking spaces behind the building. Recent functional improvements include a new HVAC unit and tankless water heater. Laminate and hardwood flooring are present, with electric forced-air heating serving the building.
The property includes four dedicated parking spaces behind the building. Recent functional improvements include a new HVAC unit and tankless water heater. Laminate and hardwood flooring are present, with electric forced-air heating serving the building.
Key Highlights
- 4,576‑square‑foot brick mixed‑use building constructed in 1919
- Open commercial floor plan with private 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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Open Analytics
Current Use
Lease Details
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Main Street building combines flexible business space with a three-bedroom residential apartment and private outdoor areas.
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 brick mixed‑use building constructed in 1919; Open commercial floor plan with private office, bathroom, and storage room; Upstairs residence includes 3 bedrooms, 1 full bathroom, kitchen, and living room
