Office Conversion
For Sale
$550,000
315 Longwood Drive, Huntsville, AL 35801
Business Opportunity, Huntsville, AL
Property Size2,050 SF
Lot Size0.26 Acres
Price / SF$268.29
Days on Market138
Property Features for 315 Longwood Drive
General Information
Property type
Residential
Property subtype
Office
Zoning description
Business, Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Directions
From Mem. Pkwy., Right On Governors Dr., Right On Harvard Dr., Left On Longwood Dr. 2nd House On The Right.
Standard status
Active
APN
1701013001004.000
Size
2,050 SF
Lot size
0.26 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Flooring type
Wood
Roof type
Shingle
Listing Agency:
Russ Russell Real Estate
(256) 536-7777
Listed By:
Russ Russell · License #25965
(256) 527-7777
Added: Jun 4
Changed: Oct 16
Last Checked: Oct 19 at 4:06PM
MLS# 21919950
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Investment Insights
Based on property information with market context.
This 2,050-square-foot property is an existing house positioned for conversion to office space. The layout includes three bedrooms, two bathrooms, a kitchen, den, and additional interior space. Wood flooring, central heating, central air, a shingle roof, and public water and sewer are present. Built in 1950, the building offers a residential-scale configuration that can be adapted to office use under its RO2 Residential Office 2 District zoning.
The property occupies 0.26 acres near Huntsville’s medical district and is directly behind the UAB Medical Building on Governor’s Drive. Its location and existing interior arrangement provide a defined starting point for an office conversion project.
The property occupies 0.26 acres near Huntsville’s medical district and is directly behind the UAB Medical Building on Governor’s Drive. Its location and existing interior arrangement provide a defined starting point for an office conversion project.
Key Highlights
- 2,050 SF building on 0.26 acres
- Zoned RO2 (Residential Office 2 District)
- Three bedrooms, two baths, kitchen, den, and extra space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,190
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$523,800
$523.8K
Cap Rate 7%
$374,143
$374.1K
Cap Rate 9%
$291,000
$291.0K
Market Conditions
NOI Build-Up for 2,050 SF
Gross rent
$41.1K $20.04/SF
− Vacancy
−$6.2K −$3.01/SF
EGI
$34.9K $17.03/SF
− OpEx
−$8.7K −$4.26/SF
NOI
$26.2K $12.78/SF
Area
Huntsville, AL
Vacancy
15.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$523,800
Cap Rate 7%
$374,143
Cap Rate 9%
$291,000
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 authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,263
Businesses Nearby
Explore this area
Business Placement
Demographics for 35801, AL
22,539
Population
11,225
Households
2
Avg Household Size
43
Median Age
55%
College-Educated
90%
High-School Grad
13.8 sq mi
ZIP Area
1,633
Density / Sq Mi
$103,125
Median Household Income
$60,370
Median Earnings
$1,130
Median Rent
$399,700
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 - RO2 zoning and a residential-style layout support potential office conversion.
Where is this office building 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: 2,050 SF building on 0.26 acres; Zoned RO2 (Residential Office 2 District); Three bedrooms, two baths, kitchen, den, and extra space
