Renovated Office
New
For Sale
$369,900
2915 Main Avenue, Northport, AL 35476
Three offices, two restrooms, a rear kitchen, and on-site parking provide a functional commercial layout.
Property Size2,488 SF
Lot Size0.60 Acres
Price / SF$148.67
Days on Market2
Property Features for 2915 Main Avenue
General Information
Standard status
Active
Size
2,488 SF
Lot size
0.60 Acres
Property subtype
Commercial
Additional Details
Road Access
Yes
Amenities
full kitchen
Listing Agency:
Pritchett Moore Real Estate
Listed By:
Jonathan Mckinney · License #118568160
(205) 792-7977
Source:
Advantagerealtygroup
Added: Sep 6
Last Checked: Sep 6 at 2:16PM
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 Pritchett Moore Real Estate
Investment Insights
Based on property information with market context.
Renovated office property on a 0.60-acre parcel at 2915 Main Avenue in Northport. The interior opens to a reception area and includes three offices, two restrooms, and a rear common area with a full kitchen.
Parking is located behind the building, providing on-site convenience for occupants and visitors. The existing office layout and support areas create a straightforward configuration for continued office use.
Parking is located behind the building, providing on-site convenience for occupants and visitors. The existing office layout and support areas create a straightforward configuration for continued office use.
Key Highlights
- Completely renovated office property
- Situated on a 0.60‑acre parcel
- Reception area with three offices
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
$28,819
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
7.79%
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%
$576,380
$576.4K
Cap Rate 7%
$411,700
$411.7K
Cap Rate 9%
$320,211
$320.2K
Market Conditions
NOI Build-Up for 2,488 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
$49.3K $19.80/SF
− Vacancy
−$10.8K −$4.36/SF
EGI
$38.4K $15.44/SF
− OpEx
−$9.6K −$3.86/SF
NOI
$28.8K $11.58/SF
Area
Tuscaloosa County, AL
Vacancy
22.00%
Lease Rate
$19.80 /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%
$576,380
Cap Rate 7%
$411,700
Cap Rate 9%
$320,211
Alternative Uses
Best Use
Office B
$411.7K
$360.2K – $480.3K
NOI $28,819 @ 7.0% cap · market cap 7.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$597.9K
$523.2K – $697.5K
NOI $41,852 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 35476, AL
8,697
Population
3,597
Households
2.4
Avg Household Size
36
Median Age
23%
College-Educated
86%
High-School Grad
6.9 sq mi
ZIP Area
1,260
Density / Sq Mi
$59,545
Median Household Income
$37,304
Median Earnings
$940
Median Rent
$196,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Three offices, two restrooms, a rear kitchen, and on-site parking provide a functional commercial layout.
Where is this office building located?
The property is located at 2915 Main Avenue Northport, AL.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Completely renovated office property; Situated on a 0.60‑acre parcel; Reception area with three offices
