Historic Storefront
New
For Sale
$399,000
2105 Lurleen B Wallace Blvd, Northport, AL 35476
The property carries C-3 zoning within Northport’s commercial area.
Property Size1,508 SF
Price / SF$264.59
Days on Market4
Property Features for 2105 Lurleen B Wallace Blvd
General Information
Standard status
Active
Size
1,508 SF
Property subtype
Retail - Street Retail
Zoning
C-3
Building Details
Building Size
1,508 SF
Year Built
1950
Listing Agency:
Harwood Real Estate
(205) 764-1637
Listed By:
Richard Harwood
Source:
Commercialcafe
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 18 at 6:00AM
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 Harwood Real Estate
Investment Insights
Based on property information with market context.
This storefront property includes a 1,508-square-foot building constructed in 1950. Its C-3 zoning and established building presence provide a defined commercial framework for the site.
The property is located on Lurleen B Wallace Blvd in Northport, near Northport Plaza and Midtown Village. The historic downtown area is also nearby, with local boutiques, galleries, and eateries contributing to the surrounding retail and dining context.
The building’s age, compact scale, and storefront classification create a straightforward commercial property profile for consideration by retail-focused users and investors.
The property is located on Lurleen B Wallace Blvd in Northport, near Northport Plaza and Midtown Village. The historic downtown area is also nearby, with local boutiques, galleries, and eateries contributing to the surrounding retail and dining context.
The building’s age, compact scale, and storefront classification create a straightforward commercial property profile for consideration by retail-focused users and investors.
Key Highlights
- 1,508‑square‑foot storefront building
- Built in 1950
- C‑3 zoning
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
$16,935
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
4.24%
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%
$338,700
$338.7K
Cap Rate 7%
$241,929
$241.9K
Cap Rate 9%
$188,167
$188.2K
Market Conditions
NOI Build-Up for 1,508 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
$26.2K $17.40/SF
− Vacancy
−$2.0K −$1.36/SF
EGI
$24.2K $16.04/SF
− OpEx
−$7.3K −$4.81/SF
NOI
$16.9K $11.23/SF
Area
Tuscaloosa County, AL
Vacancy
7.80%
Lease Rate
$17.40 /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%
$338,700
Cap Rate 7%
$241,929
Cap Rate 9%
$188,167
Alternative Uses
Best Use
Retail
$241.9K
$211.7K – $282.3K
NOI $16,935 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$362.4K
$317.1K – $422.8K
NOI $25,367 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
72k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Groceries 22%
Hotels & Casinos 2%
Piggly Wiggly
Groceries
15,833 visits/mo
0.4 miles
Circle K
Shops & Services
15,342 visits/mo
0.3 miles
Dollar General
Shops & Services
11,623 visits/mo
0.4 miles
Texaco
Shops & Services
9,057 visits/mo
0.5 miles
Regions Bank
Shops & Services
7,540 visits/mo
0.3 miles
Demographics for 35476, AL
8,697
Population
3,597
Households
2.4
Avg Household Size
36
Median Age
23%
College-Educated
86%
High-School Grad
6.9 sq mi
ZIP Area
1,260
Density / Sq Mi
$59,545
Median Household Income
$37,304
Median Earnings
$940
Median Rent
$196,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Storefront property - The property carries C-3 zoning within Northport’s commercial area.
Where is this storefront property located?
The property is located at 2105 Lurleen B Wallace Blvd Northport, 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: 1,508‑square‑foot storefront building; Built in 1950; C‑3 zoning
