Flex Space with
New
For Sale
$599,900
2441 E Meighan Boulevard, Gadsden, AL 35903
Business Opportunity, Gadsden, AL
Property Size7,820 SF
Lot Size1.41 Acres
Price / SF$76.71
Days on Market4
Property Features for 2441 E Meighan Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business, Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Parking features
Driveway, Parking Lot
Lot features
High Visibility
Directions
From Downtown Take Hwy 431 South Towards Glencoe. Building Will Be On The Right.
Standard status
Active
APN
1506133000007.000
Size
7,820 SF
Lot size
1.41 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
billboard
Building Details
Year built
1992
Floors in Building
2
Flooring type
Carpet, Concrete
Roof type
Metal
Listing Agency:
Impact Realty, LLC
(256) 459-4001
Listed By:
Mark Cassidy · License #104031
(256) 390-1997
Added: Aug 20
Last Checked: Aug 23 at 5:06PM
MLS# 21924858
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 7,820-square-foot flex property combines office and warehouse functions on a 1.41-acre parcel. The 1,820-square-foot office area includes a reception space, four offices, and two restrooms, while the remaining 6,000 square feet provides warehouse space with two bay doors. Interior finishes include carpet and concrete flooring, supported by central air and natural-gas heat.
Located at 2441 E Meighan Boulevard in Gadsden, the property includes a driveway, parking lot, and on-site billboard. Public water and public sewer serve the site. The building was constructed in 1992 and has a metal roof.
Located at 2441 E Meighan Boulevard in Gadsden, the property includes a driveway, parking lot, and on-site billboard. Public water and public sewer serve the site. The building was constructed in 1992 and has a metal roof.
Key Highlights
- 7,820‑square‑foot flex building on 1.41 acres
- 1,820‑square‑foot office area with reception space, 4 offices, and 2 restrooms
- 6,000 square feet of warehouse space with two bay doors
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
$50,505
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
8.42%
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%
$1,010,100
$1.0M
Cap Rate 7%
$721,500
$721.5K
Cap Rate 9%
$561,167
$561.2K
Market Conditions
NOI Build-Up for 7,820 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
$86.3K $11.04/SF
− Vacancy
−$19.0K −$2.43/SF
EGI
$67.3K $8.61/SF
− OpEx
−$16.8K −$2.15/SF
NOI
$50.5K $6.46/SF
Area
Etowah County, AL
Vacancy
22.00%
Lease Rate
$11.04 /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%
$1,010,100
Cap Rate 7%
$721,500
Cap Rate 9%
$561,167
Alternative Uses
Best Use
Flex RnD
$919.9K
$804.9K – $1.07M
NOI $64,393 @ 7.0% cap · market cap 10.73%
Second Best
Office B
$721.5K
$631.3K – $841.8K
NOI $50,505 @ 7.0% cap · market cap 8.42%
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,502 @ 7.0% cap · market cap 14.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35903, AL
17,344
Population
8,338
Households
2.1
Avg Household Size
41
Median Age
16%
College-Educated
87%
High-School Grad
68.2 sq mi
ZIP Area
254
Density / Sq Mi
$50,063
Median Household Income
$35,361
Median Earnings
$823
Median Rent
$170,000
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?
Flex space - Office areas and warehouse space share a versatile commercial building with bay-door access.
Where is this flex space located?
The property is located at 2441 E Meighan Boulevard Gadsden, AL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 7,820‑square‑foot flex building on 1.41 acres; 1,820‑square‑foot office area with reception space, 4 offices, and 2 restrooms; 6,000 square feet of warehouse space with two bay doors
