Fenced Flex Space with
New
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 Market7
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
garage spaces
covered carport
office/reception area
bathroom
secure outbuilding storage
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 4
Last Checked: Sep 6 at 1:06AM
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 flex space includes a 1,400-square-foot commercial building on a fully fenced 0.5-acre site comprising 2 parcels. The property has 2 garage spaces, a covered 2-bay carport, an office or reception area, a bathroom, and a separate secure outbuilding for storage. Built in 1950, the improvements provide a practical setup for automotive, contractor, equipment, storage, and other commercial operations.
Located at 3710 Old Lee Hwy in Cherokee, Alabama, the property carries 00 Commercial zoning. Its enclosed site, vehicle-oriented improvements, and combination of workspace and storage support a range of business uses identified for the property.
Located at 3710 Old Lee Hwy in Cherokee, Alabama, the property carries 00 Commercial zoning. Its enclosed site, vehicle-oriented improvements, and combination of workspace and storage support a range of business uses identified for the property.
Key Highlights
- 1,400‑square‑foot commercial building on a 0.5‑acre site
- Fully fenced property comprising 2 parcels
- 2 garage spaces plus 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
Flex RnD
$107.6K
$94.2K – $125.6K
NOI $7,535 @ 7.0% cap · market cap 6.03%
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
Property Profile
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
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 - Fenced commercial site with garage, covered carport, office or reception area, bathroom, and secure storage.
Where is this flex space 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 commercial building on a 0.5‑acre site; Fully fenced property comprising 2 parcels; 2 garage spaces plus a covered 2‑bay carport
