Mixed-Use Asset in Downtown
For Sale
$1,400,000
31 NW 8th St, Arab, AL 35016
Mixed-use property with apartments and office/storefront spaces in Arab, Alabama.
Property Size17,561 SF
Price / SF$79.72
Days on Market327
Property Features for 31 NW 8th St
General Information
Standard status
Active
Size
17,561 SF
Property subtype
Multifamily
Building Details
Building Size
17,561 SF
Year Built
1930
Listed By:
Andrew Agee
(256) 653-0065
Source:
Svn
Added: Nov 21, 2025
Changed: Oct 2
Last Checked: Oct 12 at 5:10PM
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 Andrew Agee
Investment Insights
Based on property information with market context.
Main Street Plaza and Lofts presents an opportunity to acquire a mixed-use asset situated in the bustling downtown area of Arab, Alabama, approximately one hour south of Huntsville. The property includes 12 apartment units, consisting of 9 one-bedroom/one-bathroom units, and one unit each with 2, 3, and 4 bedrooms. Additionally, there are 13 office/storefront spaces, each measuring 795 square feet, located on a walkable downtown street. The property is located in the central business district of downtown Arab and has a total size of 17561 square feet.
Key Highlights
- Mixed‑use asset offering both residential and commercial income streams. Features 12 apartment units and 13 office/storefront spots.
- Located in the heart of downtown Arab, Alabama's central business district. Enjoy a walkable downtown street location.
- Benefit from proximity to the fast‑growing market of Huntsville, Alabama.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,386
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,967,720
$2.0M
Cap Rate 7%
$1,405,514
$1.4M
Cap Rate 9%
$1,093,178
$1.1M
Market Conditions
NOI Build-Up for 17,561 SF
Gross rent
$174.9K $9.96/SF
− Vacancy
−$17.5K −$1.00/SF
EGI
$157.4K $8.96/SF
− OpEx
−$59.0K −$3.36/SF
NOI
$98.4K $5.60/SF
Area
Marshall County, AL
Vacancy
10.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,967,720
Cap Rate 7%
$1,405,514
Cap Rate 9%
$1,093,178
Alternative Uses
Best Use
Office B
$2.83M
$2.47M – $3.30M
NOI $197,956 @ 7.0% cap · market cap 14.14%
Second Best
Mixed Use
$1.41M
$1.23M – $1.64M
NOI $98,386 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$3.79M
$3.32M – $4.42M
NOI $265,320 @ 7.0% cap · market cap 18.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 35016, AL
17,495
Population
7,372
Households
2.4
Avg Household Size
42
Median Age
22%
College-Educated
89%
High-School Grad
79.0 sq mi
ZIP Area
221
Density / Sq Mi
$60,910
Median Household Income
$36,939
Median Earnings
$758
Median Rent
$192,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with apartments and office/storefront spaces in Arab, Alabama.
Where is this mixed-use property located?
The property is located at 31 NW 8th St Arab, AL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Mixed‑use asset offering both residential and commercial income streams. Features 12 apartment units and 13 office/storefront spots.; Located in the heart of downtown Arab, Alabama's central business district. Enjoy a walkable downtown street location.; Benefit from proximity to the fast‑growing market of Huntsville, Alabama.
