Flex Space with Two-Bay
New
For Sale
$295,000
2900 Noble Street, Anniston, AL 36201
Well-maintained commercial building with event-center configuration, expansion area, and additional lots included.
Property Size3,645 SF
Price / SF$80.93
Days on Market5
Property Features for 2900 Noble Street
General Information
Standard status
Active
Size
3,645 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1920
Listing Agency:
ERA King Real Estate
(256) 525-9266
Listed By:
Debra Foster · License #127480
(256) 525-9266
Source:
Exitrealty
Added: Aug 15
Changed: Aug 18
Last Checked: Aug 19 at 5:27AM
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 3,645-square-foot flex space at 2900 Noble Street is currently arranged as an event center and offers a building configuration suited to office, retail, or similar commercial use. The property was built in 1920, has a new roof, and includes additional area for expansion. A garage with two bay doors adds functional service and storage capability.
The sale includes the lots at 2908 Noble Street and 2910 Noble Street, providing additional land associated with the building. The property is located in Anniston, Alabama, and the included parcels create a larger overall property package than the building site alone.
The sale includes the lots at 2908 Noble Street and 2910 Noble Street, providing additional land associated with the building. The property is located in Anniston, Alabama, and the included parcels create a larger overall property package than the building site alone.
Key Highlights
- 3,645‑square‑foot flex building in Anniston, AL
- Currently configured as an event center
- New roof and additional space for expansion
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
$18,764
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
6.36%
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%
$375,280
$375.3K
Cap Rate 7%
$268,057
$268.1K
Cap Rate 9%
$208,489
$208.5K
Market Conditions
NOI Build-Up for 3,645 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
$32.8K $9.00/SF
− Vacancy
−$3.9K −$1.08/SF
EGI
$28.9K $7.92/SF
− OpEx
−$10.1K −$2.77/SF
NOI
$18.8K $5.15/SF
Area
Calhoun County, AL
Vacancy
12.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
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%
$375,280
Cap Rate 7%
$268,057
Cap Rate 9%
$208,489
Alternative Uses
Best Use
Flex RnD
$268.1K
$234.6K – $312.7K
NOI $18,764 @ 7.0% cap · market cap 6.36%
Second Best
Industrial
$202.3K
$177.0K – $236.0K
NOI $14,161 @ 7.0% cap · market cap 4.80%
Theoretical Best
Healthcare Medical
$560.4K
$490.3K – $653.8K
NOI $39,226 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,792
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36201, AL
17,631
Population
9,543
Households
1.8
Avg Household Size
41
Median Age
6%
College-Educated
79%
High-School Grad
38.9 sq mi
ZIP Area
453
Density / Sq Mi
$33,754
Median Household Income
$26,680
Median Earnings
$709
Median Rent
$75,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained commercial building with event-center configuration, expansion area, and additional lots included.
Where is this flex space located?
The property is located at 2900 Noble Street Anniston, AL.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 3,645‑square‑foot flex building in Anniston, AL; Currently configured as an event center; New roof and additional space for expansion
