Two-Story Flex Space with
For Sale
$1,695,000
3518 Greensboro Avenue, Tuscaloosa, AL 35401
CommercialSale, Tuscaloosa, AL
Property Size20,000 SF
Lot Size3.41 Acres
Price / SF$56.91
Days on Market334
Property Features for 3518 Greensboro Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Located behind MLS #17132
Subdivision
(02) Central Tuscaloosa City
Standard status
Active
APN
3107354004019003
Size
29,784 SF
Lot size
3.41 Acres
Taxes and HOA fees
Tax Annual Amount
9773
Amenities
conference rooms
Building Details
Year built
2000
Number of units
3
Listing Agency:
Pritchett Moore Real Estate
(205) 349-6500
Listed By:
Steven Deal · License #000093505
(205) 292-9771
Added: Sep 30, 2025
Changed: Aug 28
Last Checked: Aug 29 at 4:06PM
MLS# 171233
Copyright © 2026 West Alabama Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story flex property combines a substantial office component with storage and service-oriented improvements. The 20,000-square-foot office building includes nearly 50 office spaces, two conference rooms, and interior shop space with a roll-up door. An additional 9,784 square feet provides open and enclosed storage bays, creating a combined property size of 29,784 square feet.
Set on approximately 3.41 acres at 3518 Greensboro Avenue in Tuscaloosa, the site includes two gravel laydown yards and a secured perimeter with fencing and gates. Parking includes more than 60 marked spaces, along with additional areas serving the storage bays. Built in 2000, the property supports a broad flex-space configuration with office, storage, shop, and yard components.
Set on approximately 3.41 acres at 3518 Greensboro Avenue in Tuscaloosa, the site includes two gravel laydown yards and a secured perimeter with fencing and gates. Parking includes more than 60 marked spaces, along with additional areas serving the storage bays. Built in 2000, the property supports a broad flex-space configuration with office, storage, shop, and yard components.
Key Highlights
- 20,000 SF two‑story office building with nearly 50 office spaces
- 9,784 SF of open and closed storage bays
- Two conference rooms and interior shop space with a roll‑up door
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
$143,356
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
8.46%
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%
$2,867,120
$2.9M
Cap Rate 7%
$2,047,943
$2.0M
Cap Rate 9%
$1,592,844
$1.6M
Market Conditions
NOI Build-Up for 29,784 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
$214.4K $7.20/SF
− Vacancy
−$9.7K −$0.32/SF
EGI
$204.8K $6.88/SF
− OpEx
−$61.4K −$2.06/SF
NOI
$143.4K $4.81/SF
Area
Tuscaloosa, AL
Vacancy
4.50%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
30.00%
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%
$2,867,120
Cap Rate 7%
$2,047,943
Cap Rate 9%
$1,592,844
Alternative Uses
Best Use
Office B
$4.93M
$4.31M – $5.75M
NOI $344,988 @ 7.0% cap · market cap 20.35%
Second Best
Flex RnD
$3.29M
$2.88M – $3.84M
NOI $230,515 @ 7.0% cap · market cap 13.60%
Theoretical Best
Office A
$7.16M
$6.26M – $8.35M
NOI $501,015 @ 7.0% cap · market cap 29.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35401, AL
41,852
Population
19,517
Households
2.1
Avg Household Size
26
Median Age
27%
College-Educated
85%
High-School Grad
40.1 sq mi
ZIP Area
1,044
Density / Sq Mi
$30,031
Median Household Income
$13,041
Median Earnings
$911
Median Rent
$141,100
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?
Flex space - Secured commercial property combines extensive office areas, storage bays, shop space, and on-site laydown yards.
Where is this flex space located?
The property is located at 3518 Greensboro Avenue Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: 20,000 SF two‑story office building with nearly 50 office spaces; 9,784 SF of open and closed storage bays; Two conference rooms and interior shop space with a roll‑up door
