C-3 Storefront
For Sale
$399,000
2105 Lurleen B. Wallace Boulevard, Northport, AL 35476
COMMERCIAL - Northport, AL
Property Size1,508 SF
Lot Size0.21 Acres
Price / SF$264.59
Days on Market336
Property Features for 2105 Lurleen B. Wallace Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From downtown Tuscaloosa take Lurleen B Wallace Blvd N. Property is on the right.
Subdivision
(06) Northport City
Standard status
Active
APN
31-02-10-3-022-012.000
Size
1,508 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
Lot 3 Res Blocks K & L McGee S/D
Tax Annual Amount
1450
Legal Description
Lot 3 Res Blocks K & L McGee S/D
Building Details
Number of units
1
Listing Agency:
Harwood Real Estate LLC
(205) 764-1637
Listed By:
Richard Harwood
(205) 799-2210
Added: Sep 23, 2025
Changed: Aug 19
Last Checked: Aug 24 at 5:06AM
MLS# 170906
Copyright © 2026 West Alabama Multiple Listing Service. 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 1,508-square-foot commercial building occupies a 0.21-acre parcel at 2105 Lurleen B. Wallace Boulevard in Northport. Previously used as a salon, the property is positioned for continued commercial use, with the source information identifying retail, office, and service applications as potential fits.
C-3 zoning and placement along Lurleen B. Wallace Boulevard provide a storefront-oriented setting with boulevard frontage. The corridor is described as carrying high traffic counts and offering convenient access, supporting exposure for an occupant serving customers from the surrounding Tuscaloosa County market.
C-3 zoning and placement along Lurleen B. Wallace Boulevard provide a storefront-oriented setting with boulevard frontage. The corridor is described as carrying high traffic counts and offering convenient access, supporting exposure for an occupant serving customers from the surrounding Tuscaloosa County market.
Key Highlights
- 1,508‑square‑foot commercial building
- 0.21‑acre parcel in Northport, AL
- 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
725
Businesses Nearby
78k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Groceries 20%
Dining 17%
Electronics 1%
Piggly Wiggly
Groceries
15,833 visits/mo
0.2 miles
Circle K
Shops & Services
15,342 visits/mo
0.3 miles
Dollar General
Shops & Services
11,623 visits/mo
0.2 miles
Regions Bank
Shops & Services
7,540 visits/mo
0.2 miles
McAlister's Deli
Dining
7,333 visits/mo
0.4 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Stems — 2210 9th Ave, Northport, AL 35476
Frequently Asked Questions
What type of property is this?
Storefront property - C-3-zoned space offers potential for retail, office, or service use.
Where is this storefront property located?
The property is located at 2105 Lurleen B. Wallace Boulevard 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 commercial building; 0.21‑acre parcel in Northport, AL; C‑3 zoning
