Class A Office
New
For Sale
$2,200,000
3140 Zelda Ct, Montgomery, AL 36106
B2-zoned office property with elevator service, natural light, and on-site parking.
Property Size11,400 SF
Price / SF$192.98
Days on Market3
Property Features for 3140 Zelda Ct
General Information
Standard status
Active
Size
11,400 SF
Class
A
Elevators
Yes
Property subtype
Office - General Office
Zoning
B2
Additional Details
Highway Access
Yes
Building Details
Building Size
11,400 SF
Year Built
2007
Buildings
1
Listing Agency:
Aronov Realty Brokerage
Listed By:
Scott Harris · License #0000328421
(334) 277-1000
Source:
Commercialcafe
Added: Sep 5
Last Checked: Sep 7 at 4:47AM
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 Aronov Realty Brokerage
Investment Insights
Based on property information with market context.
3140 Zelda Ct is an 11,400 SF Class A office building completed in 2007. The property features refined interior finishes, abundant natural light, an elevator, and a functional floorplan suited to professional office operations. Immediate availability supports a range of established office users, including law firms, medical practices, and corporate occupants.
The building is positioned in Montgomery’s midtown business corridor with access to I-85, downtown Montgomery, and major thoroughfares. Restaurants, retail, and other services are located nearby, while on-site parking adds convenience for building occupants and visitors. B2 zoning supports the property’s office use profile.
The building is positioned in Montgomery’s midtown business corridor with access to I-85, downtown Montgomery, and major thoroughfares. Restaurants, retail, and other services are located nearby, while on-site parking adds convenience for building occupants and visitors. B2 zoning supports the property’s office use profile.
Key Highlights
- 11,400 SF Class A office building
- Constructed in 2007
- B2 zoning supports office use
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
$126,198
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
5.74%
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%
$2,523,960
$2.5M
Cap Rate 7%
$1,802,829
$1.8M
Cap Rate 9%
$1,402,200
$1.4M
Market Conditions
NOI Build-Up for 11,400 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
$205.2K $18.00/SF
− Vacancy
−$36.9K −$3.24/SF
EGI
$168.3K $14.76/SF
− OpEx
−$42.1K −$3.69/SF
NOI
$126.2K $11.07/SF
Area
Montgomery, AL
Vacancy
18.00%
Lease Rate
$18.00 /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%
$2,523,960
Cap Rate 7%
$1,802,829
Cap Rate 9%
$1,402,200
Alternative Uses
Best Use
Office B
$1.80M
$1.58M – $2.10M
NOI $126,198 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.07M – $2.76M
NOI $165,473 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
685
Businesses Nearby
Explore this area
Business Placement
Demographics for 36106, AL
15,438
Population
7,236
Households
2.1
Avg Household Size
39
Median Age
51%
College-Educated
96%
High-School Grad
6.2 sq mi
ZIP Area
2,490
Density / Sq Mi
$71,202
Median Household Income
$40,398
Median Earnings
$1,138
Median Rent
$207,400
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 building - B2-zoned office property with elevator service, natural light, and on-site parking.
Where is this office building located?
The property is located at 3140 Zelda Ct Montgomery, AL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 11,400 SF Class A office building; Constructed in 2007; B2 zoning supports office use
