Adaptive-Use Office
407 3rd Street W Garden City, AL 35070
407 3rd Street W, Garden City, AL, 35070
$625,000
For Sale
$625,000
COMMERCIAL - Garden City, AL
Property Size5,062 SF
Lot Size0.50 Acres
Price / SF$123.47
Days on Market54
Property Features for 407 3rd Street W
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- 2502090051001.000
- Size
- 5,062 SF
- Lot size
- 0.50 Acres
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 3
- Flooring type
- Carpet, Concrete
- Roof type
- Shingle
Listing agency
Nxcel Realty
(256) 567-3645
Listed by
Michele Duke · License #75500
(256) 531-7785
Added: May 30 Updated: Jul 10 at 1:32AM Checked: Jul 22 at 7:06AM
MLS# 21913545
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Investment Insights
Based on property information with market context.
This brick adaptive-use office building offers a flexible interior layout with multiple offices or classrooms, 5 bathrooms, and a kitchen. Interior features also include a large cafeteria-style dining area, plus open gathering space intended for shared use.
The property sits on approximately half an acre in Cullman County, offering a strong architectural presence and ample onsite parking for visitors and staff.
With roughly 5,000 square feet and a room mix that supports both private and group areas, the building is suited for a range of commercial redevelopment directions, subject to applicable approvals.
The property sits on approximately half an acre in Cullman County, offering a strong architectural presence and ample onsite parking for visitors and staff.
With roughly 5,000 square feet and a room mix that supports both private and group areas, the building is suited for a range of commercial redevelopment directions, subject to applicable approvals.
Key Highlights
- +/-5,000 sq ft brick adaptive‑use building with strong architectural presence
- Flexible interior layout with multiple offices/classrooms, open gathering space, and ample onsite parking
- Kitchen plus large cafeteria‑style dining area
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.8k | $12.60 |
| − Vacancy | −$10.2k | −$2.02 |
| EGI | $53.6k | $10.58 |
| − OpEx | −$13.4k | −$2.65 |
| NOI | $40.2k | $7.94 |
5,062 SF · lease $12.60/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$574.0K
$502.3K – $669.7K
NOI $40,182 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$746.3K
$653.0K – $870.7K
NOI $52,240 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Brick office building with multiple rooms, 5 bathrooms, a kitchen, cafeteria-style dining area, and ample onsite parking.
Where is this office building located?
The property is located at 407 3rd Street W Garden City, AL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: +/-5,000 sq ft brick adaptive‑use building with strong architectural presence; Flexible interior layout with multiple offices/classrooms, open gathering space, and ample onsite parking; Kitchen plus large cafeteria‑style dining area
