Office Units with Private
For Sale
$600,000
3093 Palisades Drive, Tuscaloosa, AL 35405
Vacant professional office space includes a lobby, conference room, break area, and ADA-compliant restrooms.
Property Size4,641 SF
Price / SF$129.28
Days on Market81
Property Features for 3093 Palisades Drive
General Information
Standard status
Active
Size
4,641 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$5,748
Building Details
Year Built
1997
Listing Agency:
Pritchett Moore Real Estate
(205) 292-9771
Listed By:
Steven Deal · License #000093505
(205) 292-9771
Source:
Exitrealty
Added: Jun 10
Changed: Aug 29
Last Checked: Aug 29 at 6:22PM
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.
This 4,641 SF office property, built in 1997, is vacant and configured for immediate occupancy. The interior includes 12 private offices, a conference room, lobby, break room, two multi-stall ADA-compliant restrooms, and an additional customer restroom. An approximately 1,000 SF storage area has its own entrance and double-door access, adding separate functional space within the building.
The property is located at 3093 Palisades Drive in Tuscaloosa, within the Palisades office park. Its existing layout combines private work areas, shared meeting space, customer-facing amenities, and dedicated storage in one office setting.
The property is located at 3093 Palisades Drive in Tuscaloosa, within the Palisades office park. Its existing layout combines private work areas, shared meeting space, customer-facing amenities, and dedicated storage in one office setting.
Key Highlights
- 4,641 SF office property at 3093 Palisades Drive
- 12 private offices plus a conference room and lobby
- Approximately 1,000 SF storage area with separate entrance and double‑door access
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
$53,757
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
8.96%
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%
$1,075,140
$1.1M
Cap Rate 7%
$767,957
$768.0K
Cap Rate 9%
$597,300
$597.3K
Market Conditions
NOI Build-Up for 4,641 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
$91.9K $19.80/SF
− Vacancy
−$20.2K −$4.36/SF
EGI
$71.7K $15.44/SF
− OpEx
−$17.9K −$3.86/SF
NOI
$53.8K $11.58/SF
Area
Tuscaloosa, 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%
$1,075,140
Cap Rate 7%
$767,957
Cap Rate 9%
$597,300
Alternative Uses
Best Use
Office B
$768.0K
$672.0K – $896.0K
NOI $53,757 @ 7.0% cap · market cap 8.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$975.9K – $1.30M
NOI $78,069 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
232
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Vacant professional office space includes a lobby, conference room, break area, and ADA-compliant restrooms.
Where is this office units located?
The property is located at 3093 Palisades Drive Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 4,641 SF office property at 3093 Palisades Drive; 12 private offices plus a conference room and lobby; Approximately 1,000 SF storage area with separate entrance and double‑door access
