Berry Farm with Office
For Sale
$475,000
2356 Alabama River Parkway, Millbrook, AL 36054
CommercialSale, Millbrook, AL
Property Size2,300 SF
Lot Size8.28 Acres
Price / SF$206.52
Days on Market207
Property Features for 2356 Alabama River Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Not Zoned
Parking
30
Security features
Security
Exterior features
Storage
Lot features
Outside City Limits, Level
Middle school
,
Directions
From 65 North, take exit 176 for Al 143 N toward Millbrook/Coosada, stay on AL 143 N for appx 2.2 miles, turn right on Jackson Lake Rd, continue util it ends, turn right on Alabama River Pkwy, Continue for appx 1.2 miles property is on the right
Subdivision
Millbrook/Deatsville/W of 143
Standard status
Active
Size
2,300 SF
Lot size
8.28 Acres
Taxes and HOA fees
Tax Description
LOT 2 RIVER BEND SUB 14/30 S24 T17 R17 3.04 AC, 2.41 AC LOT 3 RIVER BEND SUB 14/30 SEC 24 T17 R17, LOT 1 RIVER BEND SUD 14/30 S23 T17 R17 2.83 AC
Tax Annual Amount
2175
Legal Description
LOT 2 RIVER BEND SUB 14/30 S24 T17 R17 3.04 AC, 2.41 AC LOT 3 RIVER BEND SUB 14/30 SEC 24 T17 R17, LOT 1 RIVER BEND SUD 14/30 S23 T17 R17 2.83 AC
Utilities
Heating system
Electric (Heating), Central
Cooling system
Heat Pump, Window Unit(s), Ceiling Fan(s), Multi Units
Building Details
Year built
2020
Flooring type
Laminate
Additional Structures
Storage
Listing Agency:
LanMac Realty
Listed By:
Joshua Noah · License #0103176
(334) 277-5546
Added: Mar 2
Changed: Sep 22
Last Checked: Sep 25 at 10:06PM
MLS# 584286
Copyright © 2026 Montgomery Area Association of Realtors MLS. 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 8.28-acre farm spans three parcels along Alabama River Parkway and includes approximately 692 feet of road frontage. Improvements include a 2,300-square-foot office building completed in 2020, along with storage and other accessory structures. The building was converted from a veterinary clinic into a real estate office and is currently leased.
Agricultural features include several blueberry varieties and muscadine and scuppernong vines. A separate 7.28-acre portion previously supported a U-pick berry farm, petting farm, and seasonal pumpkin patch. The property information also identifies potential for agritourism, event venue, retail, or office development uses.
Agricultural features include several blueberry varieties and muscadine and scuppernong vines. A separate 7.28-acre portion previously supported a U-pick berry farm, petting farm, and seasonal pumpkin patch. The property information also identifies potential for agritourism, event venue, retail, or office development uses.
Key Highlights
- 8.28+/- acres across three parcels
- Approximately 692 feet of road frontage on Alabama River Parkway
- 2,300+/- SF office building constructed in 2020
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
$25,461
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
5.36%
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%
$509,220
$509.2K
Cap Rate 7%
$363,729
$363.7K
Cap Rate 9%
$282,900
$282.9K
Market Conditions
NOI Build-Up for 2,300 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
$41.4K $18.00/SF
− Vacancy
−$7.5K −$3.24/SF
EGI
$33.9K $14.76/SF
− OpEx
−$8.5K −$3.69/SF
NOI
$25.5K $11.07/SF
Area
Elmore County, AL
Vacancy
18.00%
Lease Rate
$18.00 /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%
$509,220
Cap Rate 7%
$363,729
Cap Rate 9%
$282,900
Alternative Uses
Best Use
Office B
$363.7K
$318.3K – $424.4K
NOI $25,461 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$476.9K
$417.3K – $556.4K
NOI $33,385 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 36054, AL
15,204
Population
6,265
Households
2.4
Avg Household Size
37
Median Age
28%
College-Educated
90%
High-School Grad
28.1 sq mi
ZIP Area
541
Density / Sq Mi
$60,984
Median Household Income
$41,012
Median Earnings
$1,012
Median Rent
$172,700
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?
Farm - Agricultural property with an operating berry farm, accessory structures, and a leased office improvement.
Where is this farm located?
The property is located at 2356 Alabama River Parkway Millbrook, AL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 8.28+/- acres across three parcels; Approximately 692 feet of road frontage on Alabama River Parkway; 2,300+/- SF office building constructed in 2020
