Fenced Auto Shop with
For Sale
$125,000
3710 Old Lee Hwy, Cherokee, AL 35616
Commercial Sale, Cherokee, AL
Property Size1,400 SF
Lot Size0.50 Acres
Price / SF$89.29
Days on Market28
Property Features for 3710 Old Lee Hwy
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
00 Commercial
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
Subdivision
Cherokee
Elementary school
Cherokee
Middle school
Cherokee
High school
Cherokee
Directions
From US-72 W, turn right onto Main St., turn right onto Old Lee Hwy, destination on right.
Standard status
Active
APN
05-07-35-3-001-032.000
Size
1,400 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2027
Tax Description
N 100' OF LOT 70 BLK 18 CHEROKEE 100 X 105 /DB 2026 PG 4531 (CONTRACT FOR DEED)
Tax Annual Amount
237
Legal Description
N 100' OF LOT 70 BLK 18 CHEROKEE 100 X 105 /DB 2026 PG 4531 (CONTRACT FOR DEED)
Amenities
covered 2-bay carport
spacious office or reception area
bathroom
secure outbuilding
RV hookups
Building Details
Year built
1950
Number of units
1
Listing Agency:
Cafe Realty LLC
(256) 712-2727
Listed By:
Scot Mckinney · License #000120095
(256) 560-5802
Added: Aug 31
Changed: Sep 10
Last Checked: Sep 27 at 10:06AM
MLS# 531094
Copyright © 2026 Strategic MLS Alliance, 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 auto shop property occupies a fully fenced 0.5-acre site comprising 2 parcels. The 1,400-square-foot improvement provides 2 garage spaces, a covered 2-bay carport, an office or reception area, and a bathroom. A secure outbuilding offers additional storage, while RV hookups add another on-site utility feature.
Located at 3710 Old Lee Hwy in Cherokee, Alabama, the property carries 00 Commercial zoning. Its existing configuration supports automotive shop operations, general contractor use, equipment storage, or other commercial applications identified for the site. The combination of enclosed garage space, covered vehicle storage, workspace, and secure outdoor area provides a practical setup for a range of business functions.
Located at 3710 Old Lee Hwy in Cherokee, Alabama, the property carries 00 Commercial zoning. Its existing configuration supports automotive shop operations, general contractor use, equipment storage, or other commercial applications identified for the site. The combination of enclosed garage space, covered vehicle storage, workspace, and secure outdoor area provides a practical setup for a range of business functions.
Key Highlights
- 1,400‑square‑foot auto shop on a 0.5‑acre site
- Fully fenced property comprising 2 parcels
- 2 garage spaces and a covered 2‑bay carport
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
$8,736
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
6.99%
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%
$174,720
$174.7K
Cap Rate 7%
$124,800
$124.8K
Cap Rate 9%
$97,067
$97.1K
Market Conditions
NOI Build-Up for 1,400 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
$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 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%
$174,720
Cap Rate 7%
$124,800
Cap Rate 9%
$97,067
Alternative Uses
Best Use
Retail
$124.8K
$109.2K – $145.6K
NOI $8,736 @ 7.0% cap · market cap 6.99%
Second Best
Industrial
$79.6K
$69.7K – $92.9K
NOI $5,574 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$223.6K
$195.6K – $260.8K
NOI $15,650 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Auto shop - Fenced commercial site with garage space, covered vehicle storage, office/reception area, bathroom, outbuilding, 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: 1,400‑square‑foot auto shop on a 0.5‑acre site; Fully fenced property comprising 2 parcels; 2 garage spaces and a covered 2‑bay carport
