Mixed-Use Property with Event
29200 UPPER ELKTON ROAD, Elkmont, AL 35620
For Sale
$1,800,000
Commercial Sale, ELKMONT, AL
Property Size18,240 SF
Lot Size8.50 Acres
Price / SF$98.68
Days on Market202
Property Features for 29200 UPPER ELKTON ROAD
General Information
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APN
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Water source
Building Details
Floors in Building
Flooring type
Listing Agency:
Elite Properties of the South
(256) 559-1945
Listed By:
Jonathan Berryhill · License AL #135145
(256) 874-7354
Added: Apr 22
Changed: Nov 9
Last Checked: Nov 9 at 7:06PM
MLS# 21915911
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Investment Insights
Based on property information with market context.
The 18,240-square-foot property occupies 8.5 acres and has concrete flooring. Its past uses have included wedding events, equestrian activity, concerts and private gatherings, offering a varied commercial-use history.
Located on Upper Elkton Road in Elkmont, the property is off I-65, north of Athens and between Huntsville and Nashville. Public water serves the site.
Located on Upper Elkton Road in Elkmont, the property is off I-65, north of Athens and between Huntsville and Nashville. Public water serves the site.
Key Highlights
- 18,240‑square‑foot property on 8.5 acres
- Past uses include wedding events, equestrian activity, concerts and private gatherings
- Off I‑65 in Elkmont, north of Athens
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$160,056
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,201,120
$3.2M
Cap Rate 7%
$2,286,514
$2.3M
Cap Rate 9%
$1,778,400
$1.8M
Market Conditions
NOI Build-Up for 18,240 SF
Gross rent
$284.5K $15.60/SF
− Vacancy
−$28.5K −$1.56/SF
EGI
$256.1K $14.04/SF
− OpEx
−$96.0K −$5.27/SF
NOI
$160.1K $8.77/SF
Area
Limestone County, AL
Vacancy
10.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,201,120
Cap Rate 7%
$2,286,514
Cap Rate 9%
$1,778,400
Alternative Uses
Best Use
Mixed Use
$2.29M
$2.00M – $2.67M
NOI $160,056 @ 7.0% cap · market cap 8.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.75M
$4.16M – $5.54M
NOI $332,479 @ 7.0% cap · market cap 18.47%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
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Business Placement
Demographics for 35620, AL
9,592
Population
4,358
Households
2.2
Avg Household Size
40
Median Age
14%
College-Educated
91%
High-School Grad
107.6 sq mi
ZIP Area
89
Density / Sq Mi
$82,511
Median Household Income
$46,907
Median Earnings
$903
Median Rent
$190,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The site has supported weddings, equestrian operations, concerts and private functions.
Where is this mixed-use property located?
The property is located at 29200 UPPER ELKTON ROAD Elkmont, AL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 18,240‑square‑foot property on 8.5 acres; Past uses include wedding events, equestrian activity, concerts and private gatherings; Off I‑65 in Elkmont, north of Athens
