Medical Office Building with Private
New
For Sale
$179,400
407 S Second Street, Gadsden, AL 35901
COMMERCIAL - Gadsden, AL
Property Size1,750 SF
Lot Size0.18 Acres
Price / SF$102.51
Days on Market1
Property Features for 407 S Second Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business
Directions
Rainbow Drive, Turn Onto South 4th Street, Turn Right Onto Bay Street, Turn Right Onto South 2nd Street And Building Is On The Right.
Standard status
Active
APN
1502091000043.000
Size
1,750 SF
Lot size
0.18 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
1
Flooring type
Wood, Carpet
Roof type
Shingle
Listing Agency:
Bone Realty Company
(256) 546-5543
Listed By:
Anna Tillman Inzer · License #137502
(256) 504-7553
Added: Aug 3
Last Checked: Aug 3 at 7:06PM
MLS# 21925491
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Investment Insights
Based on property information with market context.
This 1,750-square-foot brick medical office building includes a waiting area, reception space, three former exam rooms, and a separate office with an existing sink and water connection. A sizable rear room adds flexible interior area, while wood and carpet flooring provide varied finishes throughout the space. The building has a shingle roof and is served by public water and public sewer.
Located at 407 S Second Street in downtown Gadsden, the property is positioned near Riverview Medical Center and includes additional parking behind the building. Its existing room arrangement and professional-office configuration support medical, dental, or other office operations, subject to applicable requirements.
Located at 407 S Second Street in downtown Gadsden, the property is positioned near Riverview Medical Center and includes additional parking behind the building. Its existing room arrangement and professional-office configuration support medical, dental, or other office operations, subject to applicable requirements.
Key Highlights
- 1,750‑square‑foot brick medical office building
- Waiting area and reception space already configured
- Three former exam rooms plus a private office with existing sink and water
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 | $19.3k | $11.04 |
| − Vacancy | −$4.3k | −$2.43 |
| EGI | $15.1k | $8.61 |
| − OpEx | −$3.8k | −$2.15 |
| NOI | $11.3k | $6.46 |
1,750 SF · lease $11.04/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Healthcare Medical
$265.8K
$232.6K – $310.1K
NOI $18,607 @ 7.0% cap · market cap 10.37%
Second Best
Office B
$161.5K
$141.3K – $188.4K
NOI $11,302 @ 7.0% cap · market cap 6.30%
Theoretical Best
Specialty Retail
$286.1K
$250.4K – $333.8K
NOI $20,029 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,537
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Brick professional office property with multiple treatment rooms, rear parking, and public water and sewer service.
Where is this medical office space located?
The property is located at 407 S Second Street Gadsden, AL.
What is the asking price?
The asking price for this property is $179,400.
What are key features of this property?
This property features: 1,750‑square‑foot brick medical office building; Waiting area and reception space already configured; Three former exam rooms plus a private office with existing sink and water
