Mixed-Use Property with Multiple
24497 1/2 W HIGHWAY 72, Athens, AL 35613
For Sale
$1,000,000
Commercial Sale, ATHENS, AL
Property Size4,900 SF
Lot Size2.65 Acres
Price / SF$204.08
Days on Market849
Property Features for 24497 1/2 W HIGHWAY 72
General Information
Property type
Property subtype
Zoning
Bathrooms
Full bathrooms
Rooms
Directions
Standard status
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Water source
Building Details
Floors in Building
Flooring type
Listing Agency:
Avanti Realty Services LLC
Listed By:
Alex Mukai · License AL #99826
(256) 714-1300
Added: Jul 16, 2024
Changed: Nov 6
Last Checked: Nov 11 at 4:06PM
MLS# 21866017
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.
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Investment Insights
Based on property information with market context.
This un-zoned mixed-use property contains 2.65 acres with approximately 4,900 square feet of improvements. The site includes a house, a metal building, and a billboard, providing multiple existing components within one commercial tract. Public water and public sewer serve the property, and wood flooring is present in the improvements.
Located at 24497 1/2 W Highway 72 in Athens, Alabama, the property is approximately 2.5 miles east of US Interstate 65 and across from Jimmy Smith GMC. The existing configuration and un-zoned status support consideration of several single-use, office, retail, medical, daycare, and multifamily applications identified in the property information.
Located at 24497 1/2 W Highway 72 in Athens, Alabama, the property is approximately 2.5 miles east of US Interstate 65 and across from Jimmy Smith GMC. The existing configuration and un-zoned status support consideration of several single-use, office, retail, medical, daycare, and multifamily applications identified in the property information.
Key Highlights
- 2.65‑acre mixed‑use property in Athens, AL
- Approximately 4,900 square feet of improvements
- Includes a house, metal building, and billboard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,951
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$619,020
$619.0K
Cap Rate 7%
$442,157
$442.2K
Cap Rate 9%
$343,900
$343.9K
Market Conditions
NOI Build-Up for 4,900 SF
Gross rent
$68.8K $14.04/SF
− Vacancy
−$12.5K −$2.56/SF
EGI
$56.3K $11.48/SF
− OpEx
−$25.3K −$5.17/SF
NOI
$31.0K $6.32/SF
Area
Limestone County, AL
Vacancy
18.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$619,020
Cap Rate 7%
$442,157
Cap Rate 9%
$343,900
Alternative Uses
Best Use
Apartment 5plus
$442.2K
$386.9K – $515.9K
NOI $30,951 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,317 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
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Business Placement
Demographics for 35613, AL
22,935
Population
9,776
Households
2.3
Avg Household Size
42
Median Age
36%
College-Educated
91%
High-School Grad
75.0 sq mi
ZIP Area
306
Density / Sq Mi
$103,281
Median Household Income
$51,834
Median Earnings
$1,284
Median Rent
$291,300
Median Home Value
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Market
Properties on Market for Commercial land in Athens
Frequently Asked Questions
What type of property is this?
Commercial land - Un-zoned acreage includes a house, metal building, and billboard.
Where is this commercial land located?
The property is located at 24497 1/2 W HIGHWAY 72 Athens, AL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 2.65‑acre mixed‑use property in Athens, AL; Approximately 4,900 square feet of improvements; Includes a house, metal building, and billboard
