Flexible Mixed-Use Commercial
For Sale
$2,000,000
29730 + lot US Highway 72, Athens, AL 35756
Business Opportunity, Athens, AL
Property Size12,000 SF
Lot Size1.00 Acre
Price / SF$166.67
Days on Market9
Property Features for 29730 + lot US Highway 72
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business, Commercial
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 4, Bathroom 6, Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 5
Parking features
Oversize, Driveway, Parking Lot
Window features
Display Window(s)
Exterior features
Sidewalks, Lighting
Accessibility
Accessible Doors
Subdivision
Phillips
Lot features
High Visibility
Directions
Hwy 72 Past Burgreen Road Multise Property Will Be On The Left Hand Side Past Reseda Nursery
Standard status
Active
APN
0907250002017.026
Size
12,000 SF
Lot size
1.00 Acre
Utilities
Sewer type
Septic Tank
Heating system
Propane (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1994
Floors in Building
2
Flooring type
Vinyl, Carpet
Roof type
Metal
Listing Agency:
Re/Max Unlimited · RE/MAX International
(256) 327-7600
Listed By:
Sherry Cox · License #46901
(256) 830-0393
Added: Sep 10
Changed: Sep 18
Last Checked: Sep 18 at 7:06AM
MLS# 21928791
Copyright © 2026 ValleyMLS.Com,Inc. 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 12,000-square-foot mixed-use commercial property was built in 1994 and includes three commercial entrances at the main level. The upper floor offers a 4,040-square-foot unfinished open area with its own entrance, while an apartment with appliances remains in place. Two full kitchens, three bathrooms, accessible doors, and a loading door add functional depth. Interior partitions are non-load-bearing, allowing the existing arrangement to be reconfigured. Carpet and vinyl flooring, central air, propane heat, a metal roof, and public water service are also included.
The property is positioned on US Highway 72 in Athens, Alabama, with sidewalks, exterior lighting, and a one-acre site. Parking is provided through a lot and driveway, including oversized parking capacity. Prior occupants included churches, a school, and offices, reflecting the building’s varied commercial configuration. Sewer service is provided by a septic tank.
The property is positioned on US Highway 72 in Athens, Alabama, with sidewalks, exterior lighting, and a one-acre site. Parking is provided through a lot and driveway, including oversized parking capacity. Prior occupants included churches, a school, and offices, reflecting the building’s varied commercial configuration. Sewer service is provided by a septic tank.
Key Highlights
- 12,000‑square‑foot mixed‑use commercial building on a 1‑acre site
- 4,040‑square‑foot unfinished upper‑level open area with separate entrance
- Three commercial entrances at the main level
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
$144,900
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
7.25%
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%
$2,898,000
$2.9M
Cap Rate 7%
$2,070,000
$2.1M
Cap Rate 9%
$1,610,000
$1.6M
Market Conditions
NOI Build-Up for 12,000 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
$252.0K $21.00/SF
− Vacancy
−$20.2K −$1.68/SF
EGI
$231.8K $19.32/SF
− OpEx
−$86.9K −$7.25/SF
NOI
$144.9K $12.08/SF
Area
Limestone County, AL
Vacancy
8.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,898,000
Cap Rate 7%
$2,070,000
Cap Rate 9%
$1,610,000
Alternative Uses
Best Use
Mixed Use
$2.07M
$1.81M – $2.42M
NOI $144,900 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.12M
$2.73M – $3.65M
NOI $218,736 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 35756, AL
22,978
Population
8,821
Households
2.6
Avg Household Size
36
Median Age
58%
College-Educated
95%
High-School Grad
80.3 sq mi
ZIP Area
286
Density / Sq Mi
$134,900
Median Household Income
$74,976
Median Earnings
$1,710
Median Rent
$350,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Adaptable commercial building with multiple entrances, an apartment, open upper-level space, and a loading door along US Highway 72.
Where is this mixed-use property located?
The property is located at 29730 + lot US Highway 72 Athens, AL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 12,000‑square‑foot mixed‑use commercial building on a 1‑acre site; 4,040‑square‑foot unfinished upper‑level open area with separate entrance; Three commercial entrances at the main level
