Automotive Property with Service
New
For Sale
$459,900
3807 Highway 31 S, Decatur, AL 35603
Metal automotive building with two roll-up bays, lobby, office space, restrooms, and paved parking.
Property Size3,576 SF
Lot Size1.20 Acres
Price / SF$128.61
Days on Market5
Property Features for 3807 Highway 31 S
General Information
Standard status
Active
Size
3,576 SF
Lot size
1.20 Acres
Property subtype
Commercial/Industrial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,501
Amenities
two large bays
roll-up doors
lobby
office
two bathrooms
paved parking
Building Details
Year Built
1986
Buildings
1
Construction
metal
Listing Agency:
Coldwell Banker McMillan
(256) 340-0222
Listed By:
Shelia Cotharin · License #83375
(256) 566-9127
Source:
Exitrealty
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 14 at 7:42AM
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 Coldwell Banker McMillan
Investment Insights
Based on property information with market context.
Located at 3807 Highway 31 S in Decatur, this automotive property includes a 3,576-square-foot metal building constructed in 1986. The building is currently used for car sales and provides two large bays, each measuring 30 by 40 feet, with roll-up doors. Interior areas include a 49-by-10-foot lobby and office, along with two bathrooms.
The property occupies 1.2 acres with a 250-by-220-foot configuration and 250 feet of road frontage. Paved parking is provided on site. The location is identified as being between Decatur and Flint, offering a highway-address setting for the existing automotive use.
The property occupies 1.2 acres with a 250-by-220-foot configuration and 250 feet of road frontage. Paved parking is provided on site. The location is identified as being between Decatur and Flint, offering a highway-address setting for the existing automotive use.
Key Highlights
- 3,576‑square‑foot metal building constructed in 1986
- Two 30‑by‑40‑foot bays with roll‑up doors
- 49‑by‑10‑foot lobby and office area
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
$29,573
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
6.43%
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%
$591,460
$591.5K
Cap Rate 7%
$422,471
$422.5K
Cap Rate 9%
$328,589
$328.6K
Market Conditions
NOI Build-Up for 3,576 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
$47.2K $13.20/SF
− Vacancy
−$5.0K −$1.39/SF
EGI
$42.2K $11.81/SF
− OpEx
−$12.7K −$3.54/SF
NOI
$29.6K $8.27/SF
Area
Morgan County, AL
Vacancy
10.50%
Lease Rate
$13.20 /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%
$591,460
Cap Rate 7%
$422,471
Cap Rate 9%
$328,589
Alternative Uses
Best Use
Retail
$422.5K
$369.7K – $492.9K
NOI $29,573 @ 7.0% cap · market cap 6.43%
Second Best
Industrial
$260.8K
$228.2K – $304.3K
NOI $18,256 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$744.0K
$651.0K – $868.0K
NOI $52,078 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
2k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Champion Of Decatur, Inc.
Shops & Services
1,768 visits/mo
0.2 miles
Demographics for 35603, AL
32,380
Population
14,509
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
71.0 sq mi
ZIP Area
456
Density / Sq Mi
$78,237
Median Household Income
$47,458
Median Earnings
$857
Median Rent
$235,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- U-Haul Neighborhood Dealer — 4207 6th Ave SE, Decatur, AL 35603
- U-Haul Neighborhood Dealer — 3503 Hwy 31 S, Decatur, AL 35603
Frequently Asked Questions
What type of property is this?
Automotive property - Metal automotive building with two roll-up bays, lobby, office space, restrooms, and paved parking.
Where is this automotive property located?
The property is located at 3807 Highway 31 S Decatur, AL.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 3,576‑square‑foot metal building constructed in 1986; Two 30‑by‑40‑foot bays with roll‑up doors; 49‑by‑10‑foot lobby and office area
