Creative Space with
For Sale
$96,900
215 NW 3rd Avenue NW, Arab, AL 35016
Business Opportunity, Arab, AL
Property Size636 SF
Lot Size0.25 Acres
Price / SF$152.36
Days on Market106
Property Features for 215 NW 3rd Avenue NW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business, Commercial
Parking features
Driveway, Oversize
Exterior features
Sidewalks, Curb/Gutters
Directions
North On Main Street / Al-69 Turn Right Onto 3rd Avenue Nw. Business Is Located At 215 3rd Avenue Nw. Or South On Main Street / Al-69 Turn Left Onto 3rd Avenue Nw.
Standard status
Active
Size
636 SF
Lot size
0.25 Acres
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Carpet, Vinyl
Roof type
Metal
Listing Agency:
1st Real Estate, LLC
(256) 486-3775
Listed By:
Patricia Swindle · License #113352
(256) 744-6225
Added: Jul 1
Changed: Oct 14
Last Checked: Oct 14 at 5:06AM
MLS# 21921926
Copyright © 2026 ValleyMLS.Com,Inc. 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 636-square-foot creative space is a brick building with a metal roof, carpet and vinyl flooring, central air, and a half bath. The building sits on a 0.25-acre parcel and includes driveway and oversized parking, with sidewalks and curb-and-gutter improvements along the property.
Located downtown in Arab, Alabama, just off Main Street, the property has access to public water and public sewer. Commercial and residential zoning provides flexibility for an owner seeking a small-scale workspace or another supported use. The space operated as a recording studio for the past 10 years.
Located downtown in Arab, Alabama, just off Main Street, the property has access to public water and public sewer. Commercial and residential zoning provides flexibility for an owner seeking a small-scale workspace or another supported use. The space operated as a recording studio for the past 10 years.
Key Highlights
- 636‑square‑foot brick building with metal roof
- 0.25‑acre parcel with oversized parking and driveway
- Zoned for both commercial and residential use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,169
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$143,380
$143.4K
Cap Rate 7%
$102,414
$102.4K
Cap Rate 9%
$79,656
$79.7K
Market Conditions
NOI Build-Up for 636 SF
Gross rent
$11.4K $18.00/SF
− Vacancy
−$1.9K −$2.97/SF
EGI
$9.6K $15.03/SF
− OpEx
−$2.4K −$3.76/SF
NOI
$7.2K $11.27/SF
Area
Marshall County, AL
Vacancy
16.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$143,380
Cap Rate 7%
$102,414
Cap Rate 9%
$79,656
Alternative Uses
Best Use
Office B
$102.4K
$89.6K – $119.5K
NOI $7,169 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$137.3K
$120.1K – $160.2K
NOI $9,609 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
482
Businesses Nearby
Explore this area
Business Placement
Demographics for 35016, AL
17,495
Population
7,372
Households
2.4
Avg Household Size
42
Median Age
22%
College-Educated
89%
High-School Grad
79.0 sq mi
ZIP Area
221
Density / Sq Mi
$60,910
Median Household Income
$36,939
Median Earnings
$758
Median Rent
$192,900
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?
Creative space - Compact commercial property with dual commercial and residential zoning, central air, public utilities, and a half bath.
Where is this creative space located?
The property is located at 215 NW 3rd Avenue NW Arab, AL.
What is the asking price?
The asking price for this property is $96,900.
What are key features of this property?
This property features: 636‑square‑foot brick building with metal roof; 0.25‑acre parcel with oversized parking and driveway; Zoned for both commercial and residential use
