Flex Property with Event
For Sale
$450,000
354 Bulldog Road, Altoona, AL 35952
COMMERCIAL - Altoona, AL
Property Size4,224 SF
Lot Size3.18 Acres
Price / SF$106.53
Days on Market29
Property Features for 354 Bulldog Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business, Unzoned
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5
Parking features
Driveway
Exterior features
Lighting, Storage
Subdivision
Metes And Bounds
Directions
Heading South On Hwy 75 Turn Right Onto Bulldog Road Then The Property Is On Your Right Down A Dirt Road.
Standard status
Active
Size
4,224 SF
Lot size
3.18 Acres
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
event stage
VIP/backstage area
bar area
mezzanine storage
RV hookups
Building Details
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Re/Max Guntersville
(256) 582-5585
Listed By:
Maximus Brandon · License #157893
(256) 706-6591
Added: Jul 16
Changed: Aug 13
Last Checked: Aug 13 at 11:06AM
MLS# 21923968
Copyright © 2026 ValleyMLS.Com,Inc. 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 flex property occupies 3.18 acres and combines an event stage with a 3,200-square-foot warehouse. The insulated warehouse has high ceilings, a climate-controlled bar area, several restrooms, and mezzanine storage. Additional improvements include a steel arch storage building and a 520-square-foot house with three bedrooms and one bathroom.
The site is served by public water and a septic tank, with 400-amp underground electric available. Four RV hookups provide water and power connections. Concrete flooring, a metal roof, central heating, central air, and driveway parking are also present. The property is located on Bulldog Road in Altoona, Alabama.
The site is served by public water and a septic tank, with 400-amp underground electric available. Four RV hookups provide water and power connections. Concrete flooring, a metal roof, central heating, central air, and driveway parking are also present. The property is located on Bulldog Road in Altoona, Alabama.
Key Highlights
- 3.18‑acre flex property with event stage and VIP/backstage area
- 3,200‑square‑foot spray foam insulated warehouse with high ceilings
- Warehouse includes air‑conditioned bar area, multiple restrooms, and mezzanine storage
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
$34,782
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
7.73%
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%
$695,640
$695.6K
Cap Rate 7%
$496,886
$496.9K
Cap Rate 9%
$386,467
$386.5K
Market Conditions
NOI Build-Up for 4,224 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
$58.3K $13.80/SF
− Vacancy
−$4.8K −$1.13/SF
EGI
$53.5K $12.67/SF
− OpEx
−$18.7K −$4.43/SF
NOI
$34.8K $8.23/SF
Area
Etowah County, AL
Vacancy
8.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
35.00%
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%
$695,640
Cap Rate 7%
$496,886
Cap Rate 9%
$386,467
Alternative Uses
Best Use
Flex RnD
$496.9K
$434.8K – $579.7K
NOI $34,782 @ 7.0% cap · market cap 7.73%
Second Best
Warehouse
$332.0K
$290.5K – $387.3K
NOI $23,240 @ 7.0% cap · market cap 5.16%
Theoretical Best
Specialty Retail
$690.6K
$604.3K – $805.8K
NOI $48,345 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35952, AL
7,847
Population
3,914
Households
2
Avg Household Size
42
Median Age
12%
College-Educated
77%
High-School Grad
109.4 sq mi
ZIP Area
72
Density / Sq Mi
$44,973
Median Household Income
$29,460
Median Earnings
$661
Median Rent
$120,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Multi-structure commercial site with warehouse, storage, event, and residential improvements.
Where is this flex space located?
The property is located at 354 Bulldog Road Altoona, AL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3.18‑acre flex property with event stage and VIP/backstage area; 3,200‑square‑foot spray foam insulated warehouse with high ceilings; Warehouse includes air‑conditioned bar area, multiple restrooms, and mezzanine storage
