Assisted Living Facility with
For Sale
$1,305,000
3621 Winchester Road, New Market, AL 35761
Business Opportunity, New Market, AL
Property Size6,544 SF
Lot Size10.00 Acres
Price / SF$199.42
Days on Market72
Property Features for 3621 Winchester Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business, Commercial, Unzoned
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 2, Bathroom 5, Bathroom 1, Bathroom 4, Bathroom 3, Bathroom 6, Bathroom 7, Bathroom 8
Parking features
Driveway
Accessibility
Accessible Doors
Subdivision
Metes And Bounds
Lot features
High Visibility
Directions
Hwy 72 East, Left Moores Mill Rd, Right Winchester Rd, Property On Left Past County Lake Rd Before Green Rd.
Standard status
Active
APN
0904192000056000
Size
6,544 SF
Lot size
10.00 Acres
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
1
Flooring type
Wood, Carpet, Tile
Roof type
Metal
Listing Agency:
One Key Realty
(256) 626-6736
Listed By:
Vanessa Blackwell · License #105886
(256) 797-2376
Added: Jul 18
Changed: Sep 21
Last Checked: Sep 27 at 10:06AM
MLS# 21910847
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 former assisted living property includes a 4,400-square-foot main building, a separate apartment, and a multipurpose structure. The main building provides nine bedrooms, six bathrooms, dining areas, laminate flooring, a fireplace, and a kitchen with double ovens and an island. A covered rear porch adds additional gathering space. The apartment contains 750 square feet with one bedroom, a family room, and a full bathroom, while the multipurpose building offers more than 1,500 square feet.
The 10-acre property is located at 3621 Winchester Road in New Market, Alabama. Improvements include central heating and cooling, electric heating, carpet, tile and wood flooring, accessible doors, a metal roof, public water, and septic service. The property was built in 1920 and includes furnishings and appliances.
The 10-acre property is located at 3621 Winchester Road in New Market, Alabama. Improvements include central heating and cooling, electric heating, carpet, tile and wood flooring, accessible doors, a metal roof, public water, and septic service. The property was built in 1920 and includes furnishings and appliances.
Key Highlights
- 4,400 SF main building with 9 bedrooms and 6 baths
- Separate 750 SF apartment with 1 bedroom, family room, and full bath
- Multi‑purpose building offers over 1,500 SF
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
$41,336
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
3.17%
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%
$826,720
$826.7K
Cap Rate 7%
$590,514
$590.5K
Cap Rate 9%
$459,289
$459.3K
Market Conditions
NOI Build-Up for 6,544 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
$91.9K $14.04/SF
− Vacancy
−$16.7K −$2.56/SF
EGI
$75.2K $11.48/SF
− OpEx
−$33.8K −$5.17/SF
NOI
$41.3K $6.32/SF
Area
Madison County, AL
Vacancy
18.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
45.00%
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%
$826,720
Cap Rate 7%
$590,514
Cap Rate 9%
$459,289
Alternative Uses
Best Use
Apartment 5plus
$590.5K
$516.7K – $688.9K
NOI $41,336 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,284 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35761, AL
12,561
Population
5,522
Households
2.3
Avg Household Size
40
Median Age
30%
College-Educated
90%
High-School Grad
116.6 sq mi
ZIP Area
108
Density / Sq Mi
$82,321
Median Household Income
$45,892
Median Earnings
$975
Median Rent
$215,300
Median Home Value
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Similar Off Market Nearby
- Haven For Greater Living Inc The — 3621 Winchester Rd, Huntsville, AL 35811
Frequently Asked Questions
What type of property is this?
Assisted living facility - Former care property with furnished buildings, residential amenities, and flexible commercial or residential use potential.
Where is this assisted living facility located?
The property is located at 3621 Winchester Road New Market, AL.
What is the asking price?
The asking price for this property is $1,305,000.
What are key features of this property?
This property features: 4,400 SF main building with 9 bedrooms and 6 baths; Separate 750 SF apartment with 1 bedroom, family room, and full bath; Multi‑purpose building offers over 1,500 SF
