3710 Old Lee Hwy, Cherokee, AL 35616

Building Details

Year Built 1950 More

Listing Agency: Cafe Realty LLC

Listed By: Scot McKinney · License AL #000120095 Show Phone

Source: Shoalsareahomesearch

Added: Jul 15 Changed: Nov 1 Last Checked: Nov 8 at 6:45AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cafe Realty LLC

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Investment Insights

Based on property information with market context.

This 1,400-square-foot automotive property occupies a fully fenced 0.5-acre site assembled from two parcels. Improvements include two garage spaces, a covered two-bay carport, an office or reception area, a bathroom, and a secure outbuilding for storage. RV hookups are also in place, adding flexibility for the property’s approved commercial uses.

Built in 1950, the property is located at 3710 Old Lee Hwy in Cherokee, Alabama. The configuration is suited to an automotive shop, general contractor operation, equipment storage, or another commercial use requiring secured outdoor space and functional service areas.

Key Highlights

• Fully fenced 0.5‑acre site comprising 2 parcels
• 1,400 SF automotive property built in 1950
• 2 garage spaces plus a covered 2‑bay carport

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,736

Cap Rate

6.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$174,720 $174.7K

Cap Rate 7%

$124,800 $124.8K

Cap Rate 9%

$97,067 $97.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,400 SF

Gross rent

$13.9K $9.96/SF

− Vacancy

−$1.5K −$1.05/SF

EGI

$12.5K $8.91/SF

− OpEx

−$3.7K −$2.67/SF

NOI

$8.7K $6.24/SF

Area

Colbert County, AL

Vacancy

10.50%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$174,720

Cap Rate 7%

$124,800

Cap Rate 9%

$97,067

Alternative Uses

Best Use

Retail

$124.8K

$109.2K – $145.6K (±1% cap)

NOI $8,736 @ 7.0% cap · market cap 6.99%

Second Best

Industrial

$79.6K

$69.7K – $92.9K (±1% cap)

NOI $5,574 @ 7.0% cap · market cap 4.46%

Theoretical Best

Office A

$223.6K

$195.6K – $260.8K (±1% cap)

NOI $15,650 @ 7.0% cap · market cap 12.52%

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

Auto shops

Suggested Use

Top Pick Auto Repair Shop Furniture & Home Goods Pharmacy Hair Salon (Bike/Boat/Book/etc) Store 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

Fenced yard

Location Intelligence

Trade Area within ½ mile

80

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 35616, AL

3,756

Population

1,993

Households

1.9

Avg Household Size

47

Median Age

13%

College-Educated

86%

High-School Grad

216.0 sq mi

ZIP Area

17

Density / Sq Mi

$47,083

Median Household Income

$41,868

Median Earnings

$820

Median Rent

$94,100

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Similar Off Market Nearby

• A Diesel — Cherokee, AL 35616

Frequently Asked Questions

What type of property is this?

Auto shop - Functional commercial site with enclosed work areas, office space, storage, and RV hookups.

Where is this auto shop located?

The property is located at 3710 Old Lee Hwy Cherokee, AL.

What is the asking price?

The asking price for this property is $125,000.

What are key features of this property?

This property features: Fully fenced 0.5‑acre site comprising 2 parcels; 1,400 SF automotive property built in 1950; 2 garage spaces plus a covered 2‑bay carport