Office Building with Detached
308 ALABAMA AVENUE SW, Fort Payne, AL 35967
For Sale
$215,000
Commercial Sale, FORT PAYNE, AL
Property Size1,709 SF
Lot Size0.22 Acres
Price / SF$125.80
Days on Market624
Property Features for 308 ALABAMA AVENUE SW
General Information
Property type
Property subtype
Bathrooms
Full bathrooms
Rooms
Directions
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Water source
Amenities
fireplace
kitchenette
conference room
mature landscaping
Building Details
Floors in Building
Flooring type
Building materials
Listing Agency:
Southern Properties Agency Inc
(256) 845-6000
Listed By:
Kevin Burt · License AL #66758
(256) 996-0003
Added: Feb 27, 2025
Changed: Oct 29
Last Checked: Nov 12 at 7:06AM
MLS# 21882026
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.
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Investment Insights
Based on property information with market context.
The 1,709-square-foot office occupies a 0.22-acre parcel and offers six rooms, including a conference room and reception area with a fireplace. A kitchenette and two restrooms support the interior layout. Brick construction, wood flooring, and plantation shutters are among the building’s existing features.
A partial basement contains a small storage area, and the property also includes a detached single-car garage. Mature landscaping surrounds the office, and public water serves the property.
A partial basement contains a small storage area, and the property also includes a detached single-car garage. Mature landscaping surrounds the office, and public water serves the property.
Key Highlights
- 1,709‑square‑foot office on a 0.22‑acre parcel
- Six rooms, including a conference room and reception area with fireplace
- Kitchenette and 2 restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,397
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,940
$227.9K
Cap Rate 7%
$162,814
$162.8K
Cap Rate 9%
$126,633
$126.6K
Market Conditions
NOI Build-Up for 1,709 SF
Gross rent
$19.5K $11.40/SF
− Vacancy
−$4.3K −$2.51/SF
EGI
$15.2K $8.89/SF
− OpEx
−$3.8K −$2.22/SF
NOI
$11.4K $6.67/SF
Area
DeKalb County, AL
Vacancy
22.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,940
Cap Rate 7%
$162,814
Cap Rate 9%
$126,633
Alternative Uses
Best Use
Office B
$162.8K
$142.5K – $190.0K
NOI $11,397 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$275.3K
$240.9K – $321.2K
NOI $19,272 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Explore this area
Business Placement
Demographics for 35967, AL
17,233
Population
7,825
Households
2.2
Avg Household Size
37
Median Age
16%
College-Educated
81%
High-School Grad
127.0 sq mi
ZIP Area
136
Density / Sq Mi
$48,125
Median Household Income
$32,051
Median Earnings
$678
Median Rent
$155,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Six-room layout includes a conference room, reception area, kitchenette, and two restrooms.
Where is this office building located?
The property is located at 308 ALABAMA AVENUE SW Fort Payne, AL.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 1,709‑square‑foot office on a 0.22‑acre parcel; Six rooms, including a conference room and reception area with fireplace; Kitchenette and 2 restrooms
