Residential-to-Office Conversion
315 Longwood Drive Huntsville, AL 35801
315 Longwood Drive, Huntsville, AL, 35801
$550,000
For Sale
$550,000
Zoned RO2 and positioned behind a major medical facility, this home offers space that can be converted to office use.
Property Size2,050 SF
Lot Size0.26 Acres
Price / SF$268.29
Days on Market42
Property Features for 315 Longwood Drive
General Information
- Standard status
- Active
- Size
- 2,050 SF
- Lot size
- 0.26 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1950
Listing Agency
Russ Russell Real Estate
(256) 527-7777
Listed by
Russ Russell · License #25965
(256) 527-7777
Source
Exitrealty
Added: Jun 5 Checked: Jun 24 at 7:34 am
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 Russ Russell Real Estate
Investment Insights
Based on property information with market context.
This property is zoned RO2 (Residential Office 2 District) and is currently a house with an interior layout suited to conversion into office space. The subject includes 2,050 SF with three bedrooms, two baths, a kitchen, a den, and additional space.
The home is located near the medical district and sits directly behind the UAB Medical Building on Governor’s Drive. It is part of a small grouping of properties, with an option to purchase it together with 317 Longwood Drive.
For buyers seeking an adaptable office conversion, the existing room count provides multiple separate spaces that can be reconfigured for professional use. The RO2 zoning supports office-related occupancy, and the property’s proximity to the medical district may appeal to office operators that want an easy connection to that patient and healthcare-oriented environment.
The home is located near the medical district and sits directly behind the UAB Medical Building on Governor’s Drive. It is part of a small grouping of properties, with an option to purchase it together with 317 Longwood Drive.
For buyers seeking an adaptable office conversion, the existing room count provides multiple separate spaces that can be reconfigured for professional use. The RO2 zoning supports office-related occupancy, and the property’s proximity to the medical district may appeal to office operators that want an easy connection to that patient and healthcare-oriented environment.
Key Highlights
- Zoned RO2 (Residential Office 2 District) on 0.26 acres
- Located directly behind the UAB Medical Building on Governor’s Drive, near the medical district
- 2,050 SF home with 3 bedrooms, 2 baths, kitchen, den, and additional space
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.1k | $20.04 |
| − Vacancy | −$6.2k | −$3.01 |
| EGI | $34.9k | $17.03 |
| − OpEx | −$8.7k | −$4.26 |
| NOI | $26.2k | $12.78 |
2,050 SF · lease $20.04/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$374.1K
$327.4K – $436.5K
NOI $26,190 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$533.8K
$467.1K – $622.8K
NOI $37,367 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Zoned RO2 and positioned behind a major medical facility, this home offers space that can be converted to office use.
Where is this office units located?
The property is located at 315 Longwood Drive Huntsville, AL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Zoned RO2 (Residential Office 2 District) on 0.26 acres; Located directly behind the UAB Medical Building on Governor’s Drive, near the medical district; 2,050 SF home with 3 bedrooms, 2 baths, kitchen, den, and additional space
