Versatile Retail-Office
For Sale
$147,900
2306 W Meighan Boulevard, Gadsden, AL 35904
Open-plan storefront building with offices, breakroom, public and private bathrooms, plus front and rear parking.
Property Size1,303 SF
Price / SF$113.51
Days on Market117
Property Features for 2306 W Meighan Boulevard
General Information
Standard status
Active
Size
1,303 SF
Property subtype
Commercial
Additional Details
Business Included
No
Amenities
breakroom/kitchen
private office
bathrooms
storage area
Building Details
Building Size
1,303 SF
Year Built
1986
Listing Agency:
Era King Real Estate
(256) 442-1030
Listed By:
Tokrica Mack · License #73524
(256) 442-1030
Source:
Alabamaland
Added: Apr 6
Changed: Jul 28
Last Checked: Jul 30 at 12:06PM
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 Era King Real Estate
Investment Insights
Based on property information with market context.
This versatile commercial building is well-suited for retail, office, or service use, offering an open floor plan with updated flooring and fresh paint throughout. The interior is supported by ample overhead lighting and includes a breakroom/kitchen area with appliances, a private office space, public and private bathrooms, and a dedicated storage area.
The exterior features front parking, with additional space available in the rear, providing flexibility for day-to-day access and operations.
With its combination of open space and enclosed rooms, the layout supports a range of occupancies while maintaining functional back-of-house elements like storage and separated bathroom access.
The exterior features front parking, with additional space available in the rear, providing flexibility for day-to-day access and operations.
With its combination of open space and enclosed rooms, the layout supports a range of occupancies while maintaining functional back-of-house elements like storage and separated bathroom access.
Key Highlights
- Commercial building built in 1986 with flexible layout for retail, office, or service use
- Open floor plan with updated flooring, fresh paint, and ample overhead lighting throughout
- Breakroom/kitchen area with appliances plus dedicated storage area
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.5k | $15.00 |
| − Vacancy | −$2.3k | −$1.80 |
| EGI | $17.2k | $13.20 |
| − OpEx | −$5.2k | −$3.96 |
| NOI | $12.0k | $9.24 |
1,303 SF · lease $15.00/SF/yr · vacancy 12.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$172.0K
$150.5K – $200.7K
NOI $12,040 @ 7.0% cap · market cap 8.14%
Second Best
Office B
$120.2K
$105.2K – $140.3K
NOI $8,415 @ 7.0% cap · market cap 5.69%
Theoretical Best
Specialty Retail
$213.0K
$186.4K – $248.6K
NOI $14,913 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35904, AL
13,559
Population
6,272
Households
2.2
Avg Household Size
41
Median Age
11%
College-Educated
80%
High-School Grad
48.8 sq mi
ZIP Area
278
Density / Sq Mi
$40,915
Median Household Income
$28,479
Median Earnings
$792
Median Rent
$100,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Open-plan storefront building with offices, breakroom, public and private bathrooms, plus front and rear parking.
Where is this storefront property located?
The property is located at 2306 W Meighan Boulevard Gadsden, AL.
What is the asking price?
The asking price for this property is $147,900.
What are key features of this property?
This property features: Commercial building built in 1986 with flexible layout for retail, office, or service use; Open floor plan with updated flooring, fresh paint, and ample overhead lighting throughout; Breakroom/kitchen area with appliances plus dedicated storage area
