Tuscaloosa Multifamily Investment
For Sale
$1,200,000
2925 Hargrove Road E, Tuscaloosa, AL 35405
MULTI_FAMILY - Tuscaloosa, AL
Property Size9,936 SF
Lot Size0.44 Acres
Price / SF$120.77
Days on Market318
Property Features for 2925 Hargrove Road E
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Interior features
CeilingFans, WalkInClosets, WindowTreatments
Exterior features
Balcony, PavedDriveway
Subdivision
Hargrove Place
Elementary school
Woodland Forest
Middle school
Eastwood
High school
Bryant
Directions
Hargrove Rd E & Palisades Dr
Standard status
Active
APN
30-09-32-4-001-033.000
Size
9,936 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Description
Lot 1R Hargrove Place Condominiums Resurvey
Tax Annual Amount
9959
Legal Description
Lot 1R Hargrove Place Condominiums Resurvey
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Building Details
Year built
2008
Flooring type
Carpet, Tile
Building materials
Block, Masonry
Roof type
Shingle, Composition
Listing Agency:
Realty One Group Legends
(205) 310-6763
Listed By:
Lee Kupfer
(205) 381-1100
Added: Sep 25, 2025
Changed: Aug 5
Last Checked: Aug 8 at 8:06PM
MLS# 171161
Copyright © 2026 West Alabama Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property, situated in Tuscaloosa, Alabama, offers an investment opportunity with its 9,936 square feet of residential space on a 0.44-acre lot. The property is located at 2925 Hargrove Road E, in the 35405 postal code area of Tuscaloosa County. This property is suitable for residential income purposes.
Key Highlights
- Built in 2008 with block and masonry construction
- Central air conditioning plus central electric heating
- Interior includes ceiling fans, walk‑in closets, and window treatments
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
$80,580
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
6.72%
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%
$1,611,600
$1.6M
Cap Rate 7%
$1,151,143
$1.2M
Cap Rate 9%
$895,333
$895.3K
Market Conditions
NOI Build-Up for 9,936 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
$156.2K $15.72/SF
− Vacancy
−$9.7K −$0.97/SF
EGI
$146.5K $14.75/SF
− OpEx
−$65.9K −$6.64/SF
NOI
$80.6K $8.11/SF
Area
Tuscaloosa, AL
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$1,611,600
Cap Rate 7%
$1,151,143
Cap Rate 9%
$895,333
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,580 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,139 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 35405, AL
45,155
Population
22,260
Households
2
Avg Household Size
34
Median Age
31%
College-Educated
94%
High-School Grad
52.9 sq mi
ZIP Area
854
Density / Sq Mi
$61,371
Median Household Income
$39,077
Median Earnings
$1,057
Median Rent
$224,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property in Tuscaloosa, Alabama, ideal for residential income.
Where is this apartment building located?
The property is located at 2925 Hargrove Road E Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Built in 2008 with block and masonry construction; Central air conditioning plus central electric heating; Interior includes ceiling fans, walk‑in closets, and window treatments
