NNN Property with Automotive
For Sale
$1,000,000
2828 Jordan Lane, Huntsville, AL 35810
Commercial building leased to an established national automotive service tenant under an existing NN lease.
Property Size7,057 SF
Lot Size1.28 Acres
Price / SF$141.70
Days on Market10
Property Features for 2828 Jordan Lane
General Information
Standard status
Active
Size
7,057 SF
Lot size
1.28 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$3,612
Amenities
recently replaced HVAC system with manufacturer warranty
Building Details
Year Built
1979
Buildings
1
Tenancy
Single
Listing Agency:
Legend Realty
(256) 694-5944
Listed By:
Larry Barkley · License #96155
(256) 694-5944
Source:
Exitrealty
Added: Aug 15
Changed: Aug 24
Last Checked: Aug 23 at 4:53PM
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 Legend Realty
Investment Insights
Based on property information with market context.
This NNN property includes a 7,057 SF commercial building constructed in 1979 and occupied by Gerber Collision & Glass. The sale encompasses 2824 and 2828 Jordan Lane Northwest, with two parcels totaling approximately 1.28 acres. A recently replaced HVAC system is covered by a manufacturer warranty.
The existing NN lease runs through April 2028 and includes four additional 5-year renewal options. Scheduled rent increases apply during the renewal periods. The property is located on Jordan Lane Northwest in Huntsville, Alabama, and combines an established automotive occupant with a defined lease term and renewal structure.
The existing NN lease runs through April 2028 and includes four additional 5-year renewal options. Scheduled rent increases apply during the renewal periods. The property is located on Jordan Lane Northwest in Huntsville, Alabama, and combines an established automotive occupant with a defined lease term and renewal structure.
Key Highlights
- 7,057 SF commercial building constructed in 1979
- Occupied by Gerber Collision & Glass, an established national automotive tenant
- Existing NN lease runs through April 2028
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
$86,251
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
8.63%
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%
$1,725,020
$1.7M
Cap Rate 7%
$1,232,157
$1.2M
Cap Rate 9%
$958,344
$958.3K
Market Conditions
NOI Build-Up for 7,057 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
$127.0K $18.00/SF
− Vacancy
−$3.8K −$0.54/SF
EGI
$123.2K $17.46/SF
− OpEx
−$37.0K −$5.24/SF
NOI
$86.3K $12.22/SF
Area
Huntsville, AL
Vacancy
3.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,725,020
Cap Rate 7%
$1,232,157
Cap Rate 9%
$958,344
Alternative Uses
Best Use
Retail
$1.23M
$1.08M – $1.44M
NOI $86,251 @ 7.0% cap · market cap 8.63%
Second Best
Industrial
$637.2K
$557.6K – $743.4K
NOI $44,606 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,635 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
178
Businesses Nearby
21k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Dining 18%
Chevron
Shops & Services
7,031 visits/mo
0.5 miles
Sunoco
Shops & Services
4,083 visits/mo
0.5 miles
SUBWAY
Dining
3,712 visits/mo
0.4 miles
Marathon
Shops & Services
2,699 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
2,396 visits/mo
0.4 miles
Demographics for 35810, AL
29,976
Population
13,283
Households
2.3
Avg Household Size
38
Median Age
24%
College-Educated
85%
High-School Grad
28.1 sq mi
ZIP Area
1,067
Density / Sq Mi
$46,963
Median Household Income
$31,080
Median Earnings
$1,097
Median Rent
$126,100
Median Home Value
Market
Vacancy Rate% for Retail 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?
NNN property - Commercial building leased to an established national automotive service tenant under an existing NN lease.
Where is this nnn property located?
The property is located at 2828 Jordan Lane Huntsville, 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: 7,057 SF commercial building constructed in 1979; Occupied by Gerber Collision & Glass, an established national automotive tenant; Existing NN lease runs through April 2028
