Building Details

Floors in Building 1

Flooring type Vinyl, Carpet

Building materials Brick

Roof type Shingle

Buildings 1

Listing Agency: Clokey Realty Inc Show Phone

Listed By: David Clokey · License #16999 Show Phone

Added: Jun 29 Changed: Oct 29 Last Checked: Oct 29 at 10:06PM

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MLS# 21922185

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 4,098-square-foot medical office building has 20 rooms arranged for office and clinical functions, including private offices, exam rooms, reception and waiting areas, a file room, break room, and restrooms. Brick construction, vinyl and carpet flooring, a shingle roof, heat-pump heating, and central air are among the building’s features.

The property sits along Rainbow Drive in Rainbow City, with on-site parking and signage visibility. Its room layout supports medical or professional office use.

Key Highlights

• 4,098‑square‑foot medical office building
• 20 rooms, including offices, exam rooms, reception and waiting areas, file room, break room, and restrooms
• Brick construction with vinyl and carpet flooring

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$43,572

Cap Rate

6.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$871,440 $871.4K

Cap Rate 7%

$622,457 $622.5K

Cap Rate 9%

$484,133 $484.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,098 SF

Gross rent

$81.1K $19.80/SF

− Vacancy

−$8.5K −$2.08/SF

EGI

$72.6K $17.72/SF

− OpEx

−$29.0K −$7.09/SF

NOI

$43.6K $10.63/SF

Area

Etowah County, AL

Vacancy

10.50%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$871,440

Cap Rate 7%

$622,457

Cap Rate 9%

$484,133

Alternative Uses

Best Use

Healthcare Medical

$622.5K

$544.7K – $726.2K (±1% cap)

NOI $43,572 @ 7.0% cap · market cap 6.97%

Second Best

Office B

$378.1K

$330.8K – $441.1K (±1% cap)

NOI $26,467 @ 7.0% cap · market cap 4.23%

Theoretical Best

Specialty Retail

$670.0K

$586.3K – $781.7K (±1% cap)

NOI $46,903 @ 7.0% cap · market cap 7.50%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Building Supply Law Firm HVAC Service Kitchen & Bath Showroom Bakery Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

601

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 35906, AL

10,444

Population

4,743

Households

2.2

Avg Household Size

42

Median Age

22%

College-Educated

85%

High-School Grad

35.0 sq mi

ZIP Area

298

Density / Sq Mi

$58,896

Median Household Income

$41,701

Median Earnings

$998

Median Rent

$199,500

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Similar For Sale Nearby

See more

Office Building with Private Offices

100 SPURLOCK STREET, Rainbow City, AL 35906

$269,000

1,740 SF

View details

Flex Space with Office Area

113 RAINBOW INDUSTRIAL BLVD, Rainbow City, AL 35906

$475,000

4,000 SF

View details

Similar Off Market Nearby

• Rainbow City Pet Clinic — 3006 Rainbow Dr, Rainbow City, AL 35906

Frequently Asked Questions

What type of property is this?

Medical Office Space - Brick construction, central air, and on-site parking support a functional professional setting.

Where is this medical office space located?

The property is located at 3212 RAINBOW DRIVE Rainbow City, AL.

What is the asking price?

The asking price for this property is $625,000.

What are key features of this property?

This property features: 4,098‑square‑foot medical office building; 20 rooms, including offices, exam rooms, reception and waiting areas, file room, break room, and restrooms; Brick construction with vinyl and carpet flooring