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    Live-Work Space with Fireplace Title is generated by Realmo AI

    3637 Winchester Road, New Market, AL 35761

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    Claim this Listing
    New
    For Sale
    $193,000

    COMMERCIAL - New Market, AL

    Property size:
    1,520 SF
    Lot size:
    0.50 Acres
    Price / SF:
    $126/SF
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 11:06 am

    Property Features for 3637 Winchester Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking features
    Driveway
    Accessibility
    Accessible Doors
    Standard status
    Active
    APN
    0904192000056000
    Size
    1,520 SF
    Lot size
    0.50 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Flooring type
    Vinyl
    Roof type
    Metal

    We can help!

    Listing Contact
    Vanessa Blackwell

    Listing agent Vanessa Blackwell License #105886

    Listing office One Key Realty 470 Providence Main, Ste. 203, AL

    Listing date Jun 3, 2026

    MLS# 21919755

    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.

    HighLights

    • Approximately 0.5 acres with a full kitchen, 1/2 bathroom, and a fireplace
    • Central air and central heating with electric heat
    • Metal roof and vinyl flooring
    • Public water with septic tank sewer
    • Driveway parking and accessible doors
    • Can be purchased with MLS #21919754 or as part of #21910847

    Overview

    This versatile live-work space is set up to support either residential living or commercial functionality. The property includes a full kitchen, a half bathroom, and a charming fireplace, giving it a strong base for many different layouts and concepts. At approximately 0.5 acres and about 1,520 square feet, it presents a manageable footprint for an owner-operator or a buyer looking to create a tailored environment.

    Located at 3637 Winchester Road in New Market, Alabama (Madison County), the property benefits from straightforward, direct site access associated with a road-facing address. The listing indicates the property can be purchased along with MLS #21919754 or as part of MLS #21910847, offering options for buyers who want to consider it in combination with related listings.

    For tenants, buyers, or operators, the combination of a full kitchen and fireplace makes the space especially adaptable for use cases where comfort and functionality both matter. Whether you’re aiming to establish a small business while retaining the ability to live on-site, or you prefer a single-purpose build-out, this property provides a workable starting point that can be shaped to fit your plans.
    Property Profile Location Intelligence

    Current Use by Public Records

    Live-work space

    Suggested Use

    Spa & Massage Center Hair Salon Nail Salon Auto Repair Shop Hotel & Motel Bar & Pub (Bike/Boat/Book/etc) Store Garden Center Nursing Home Nursing Home

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Market
    County
    Madison
    State
    Alabama
    Longitude
    -86.4583252
    Latitude
    34.854058

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    FAQs

    What type of property is this?
    Live-work space - A flexible live-work property with a full kitchen and fireplace, offering a practical foundation for home or business use.
    Where is this live-work space located?
    The property is located at 3637 Winchester Road New Market, AL.
    What is the asking price?
    The asking price for this property is $193,000.
    What are key features of this property?
    This property features: Approximately 0.5 acres with a full kitchen, 1/2 bathroom, and a fireplace; Central air and central heating with electric heat; Metal roof and vinyl flooring
    (256) 797-2376
    We can help!
    Listing Contact
    Vanessa Blackwell
    Real Estate License ID: 105886
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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