Medical Office with Two
New
For Sale
$389,900
401 Bay Street, Gadsden, AL 35901
Business Opportunity, Gadsden, AL
Property Size4,775 SF
Lot Size0.46 Acres
Price / SF$81.65
Days on Market1
Property Features for 401 Bay Street
General Information
Property type
Residential
Property subtype
Office
Subdivision
Elliott
Directions
Rainbow Drive, 4th Street To Bay Street, Left On Bay Street And The Office Is On The Right.
Standard status
Active
APN
1502091000148.000
Size
4,775 SF
Lot size
0.46 Acres
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Tile
Roof type
Metal
Listing Agency:
Corporate South Realty,Inc
(256) 543-1292
Listed By:
Wesley Sutton · License #78909
(256) 504-7665
Added: Oct 9
Last Checked: Oct 9 at 11:06PM
MLS# 21931315
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Investment Insights
Based on property information with market context.
Located in downtown Gadsden, this brick medical office has multiple office and exam rooms, five bathrooms, and a break room. Its layout can accommodate one group or be arranged as two suites, with a dedicated entrance and waiting or reception area for each. A metal roof, tile flooring, and central air are also part of the building.
The property is near shopping, a hospital, and residential areas. Public water and public sewer serve the site, which occupies a 0.46-acre lot.
The property is near shopping, a hospital, and residential areas. Public water and public sewer serve the site, which occupies a 0.46-acre lot.
Key Highlights
- Configurable for one office group or two suites
- Two dedicated entrances, each with a waiting or reception area
- Multiple office and exam rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,839
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,780
$616.8K
Cap Rate 7%
$440,557
$440.6K
Cap Rate 9%
$342,656
$342.7K
Market Conditions
NOI Build-Up for 4,775 SF
Gross rent
$52.7K $11.04/SF
− Vacancy
−$11.6K −$2.43/SF
EGI
$41.1K $8.61/SF
− OpEx
−$10.3K −$2.15/SF
NOI
$30.8K $6.46/SF
Area
Etowah County, AL
Vacancy
22.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,780
Cap Rate 7%
$440,557
Cap Rate 9%
$342,656
Alternative Uses
Best Use
Healthcare Medical
$725.3K
$634.6K – $846.2K
NOI $50,771 @ 7.0% cap · market cap 13.02%
Second Best
Office B
$440.6K
$385.5K – $514.0K
NOI $30,839 @ 7.0% cap · market cap 7.91%
Theoretical Best
Specialty Retail
$780.7K
$683.1K – $910.9K
NOI $54,651 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,619
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35901, AL
18,671
Population
9,075
Households
2.1
Avg Household Size
43
Median Age
22%
College-Educated
85%
High-School Grad
59.2 sq mi
ZIP Area
315
Density / Sq Mi
$47,826
Median Household Income
$30,212
Median Earnings
$747
Median Rent
$174,200
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 Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Separate entrances and reception areas support a two-suite configuration or use by one office group.
Where is this medical office space located?
The property is located at 401 Bay Street Gadsden, AL.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Configurable for one office group or two suites; Two dedicated entrances, each with a waiting or reception area; Multiple office and exam rooms
