Flex Space with Shipping
For Sale
$399,000
2084 Washington Street, Huntsville, AL 35801
Business Opportunity, Huntsville, AL
Property Size1,815 SF
Lot Size0.15 Acres
Price / SF$219.83
Days on Market117
Property Features for 2084 Washington Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Directions
East On Oakw. Building On The Rightood, Turn Left Onto Washington St
Standard status
Active
APN
1407252002059.000
Size
1,815 SF
Lot size
0.15 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
security system
professional fire alarm system
Building Details
Floors in Building
1
Flooring type
Carpet
Listing Agency:
Legend Realty
(256) 428-3780
Listed By:
Terry Lewis · License #65568
(256) 755-1821
Added: May 13
Changed: Sep 4
Last Checked: Sep 6 at 9:06PM
MLS# 21916624
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Investment Insights
Based on property information with market context.
This 1,815-square-foot flex space includes a lobby, reception area, two offices, a large storage room, and a shipping and receiving area with double doors. The interior has carpet flooring and was recently painted. A professional fire alarm system and security system are installed, while the fenced area adds controlled exterior space.
The property occupies 0.15 acres in Huntsville, Alabama, and is served by public water and public sewer. Two bathrooms are included in the building. The layout provides a combination of administrative, storage, and receiving areas within a compact commercial footprint.
The property occupies 0.15 acres in Huntsville, Alabama, and is served by public water and public sewer. Two bathrooms are included in the building. The layout provides a combination of administrative, storage, and receiving areas within a compact commercial footprint.
Key Highlights
- 1,815‑square‑foot flex space on 0.15 acres
- Lobby and reception area with two offices
- Large storage room and double‑door shipping and receiving area
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
$23,188
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
5.81%
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%
$463,760
$463.8K
Cap Rate 7%
$331,257
$331.3K
Cap Rate 9%
$257,644
$257.6K
Market Conditions
NOI Build-Up for 1,815 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
$36.4K $20.04/SF
− Vacancy
−$5.5K −$3.01/SF
EGI
$30.9K $17.03/SF
− OpEx
−$7.7K −$4.26/SF
NOI
$23.2K $12.78/SF
Area
Huntsville, AL
Vacancy
15.00%
Lease Rate
$20.04 /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%
$463,760
Cap Rate 7%
$331,257
Cap Rate 9%
$257,644
Alternative Uses
Best Use
Office B
$331.3K
$289.9K – $386.5K
NOI $23,188 @ 7.0% cap · market cap 5.81%
Second Best
Flex RnD
$279.1K
$244.2K – $325.6K
NOI $19,537 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$472.6K
$413.6K – $551.4K
NOI $33,084 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
903
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35801, AL
22,539
Population
11,225
Households
2
Avg Household Size
43
Median Age
55%
College-Educated
90%
High-School Grad
13.8 sq mi
ZIP Area
1,633
Density / Sq Mi
$103,125
Median Household Income
$60,370
Median Earnings
$1,130
Median Rent
$399,700
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?
Flex space - Compact commercial building with offices, storage, security systems, and a fenced outdoor area.
Where is this flex space located?
The property is located at 2084 Washington Street Huntsville, AL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,815‑square‑foot flex space on 0.15 acres; Lobby and reception area with two offices; Large storage room and double‑door shipping and receiving area
