All-Metal Auto Shop with Office
For Sale
$189,000
3990 Grier Road, Wetumpka, AL 36092
All-metal shop with three overhead doors, car lift, and finished living space suitable for an office conversion.
Property Size800 SF
Lot Size1.00 Acre
Price / SF$236.25
Days on Market94
Property Features for 3990 Grier Road
General Information
Standard status
Active
Size
800 SF
Lot size
1.00 Acre
Property subtype
Commercial/Industrial
Additional Details
Drive-In Doors
3
Building Details
Year Built
1975
Listing Agency:
Century 21 Brandt Wright, Inc.
Listed By:
Clay Boshell · License #0078981
(334) 514-4949
Source:
Exitrealty
Added: Jul 3
Changed: Sep 29
Last Checked: Sep 29 at 7:17AM
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 Century 21 Brandt Wright, Inc.
Investment Insights
Based on property information with market context.
This all-metal auto shop offers a 40-by-100 main structure with an additional 20-by-100 open lean-to. Approximately 20-by-40 of the building is finished with living quarters that include one bedroom, 1.5 baths, and a living room, which could be repurposed as office space. The shop is equipped with three 16’ overhead doors, a car lift, and a heavy-duty hoist, plus a waste oil tank and 200-amp electrical service.
The property is located in the Wallsboro area and sits on the corner of Grier Rd and Dexter Rd. The site includes lots of parking and drive-around capability, providing convenient access for vehicles and customers.
With overhead door access and shop power capacity, the space can support a range of automotive and light commercial uses that require vehicle entry and in-bay equipment. The finished portion adds flexibility for administrative space or a staffed work environment. The combination of shop functionality, practical parking, and an on-site finished area makes this property workable for owner-operators and small operators seeking a dedicated facility.
The property is located in the Wallsboro area and sits on the corner of Grier Rd and Dexter Rd. The site includes lots of parking and drive-around capability, providing convenient access for vehicles and customers.
With overhead door access and shop power capacity, the space can support a range of automotive and light commercial uses that require vehicle entry and in-bay equipment. The finished portion adds flexibility for administrative space or a staffed work environment. The combination of shop functionality, practical parking, and an on-site finished area makes this property workable for owner-operators and small operators seeking a dedicated facility.
Key Highlights
- 1‑acre all‑metal shop (40' x 100') plus 20' x 100' open lean‑to in the Wallsboro area
- 20' x 40' finished living quarters include 1 bedroom, 1.5 baths, and a living room (office conversion potential)
- Shop has three 16' overhead doors and includes a car lift and heavy duty hoist
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
$9,269
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
4.90%
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%
$185,380
$185.4K
Cap Rate 7%
$132,414
$132.4K
Cap Rate 9%
$102,989
$103.0K
Market Conditions
NOI Build-Up for 800 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
$14.2K $17.76/SF
− Vacancy
−$966 −$1.21/SF
EGI
$13.2K $16.55/SF
− OpEx
−$4.0K −$4.97/SF
NOI
$9.3K $11.59/SF
Area
Elmore County, AL
Vacancy
6.80%
Lease Rate
$17.76 /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%
$185,380
Cap Rate 7%
$132,414
Cap Rate 9%
$102,989
Alternative Uses
Best Use
Industrial
$132.4K
$115.9K – $154.5K
NOI $9,269 @ 7.0% cap · market cap 4.90%
Second Best
Retail
$126.9K
$111.0K – $148.0K
NOI $8,881 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$165.9K
$145.2K – $193.5K
NOI $11,612 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36092, AL
21,517
Population
9,272
Households
2.3
Avg Household Size
41
Median Age
17%
College-Educated
91%
High-School Grad
138.1 sq mi
ZIP Area
156
Density / Sq Mi
$75,540
Median Household Income
$41,114
Median Earnings
$1,024
Median Rent
$189,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Auto shop - All-metal shop with three overhead doors, car lift, and finished living space suitable for an office conversion.
Where is this auto shop located?
The property is located at 3990 Grier Road Wetumpka, AL.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: 1‑acre all‑metal shop (40' x 100') plus 20' x 100' open lean‑to in the Wallsboro area; 20' x 40' finished living quarters include 1 bedroom, 1.5 baths, and a living room (office conversion potential); Shop has three 16' overhead doors and includes a car lift and heavy duty hoist
