Mixed-Use Property with Attached
410 BAY STREET, Gadsden, AL 35901
For Sale
$499,000
Commercial Sale, GADSDEN, AL
Property Size3,852 SF
Price / SF$129.54
Days on Market178
Property Features for 410 BAY STREET
General Information
Property type
Property subtype
Zoning
Bathrooms
Full bathrooms
Rooms
Parking features
Interior features
Lot features
Directions
Standard status
APN
Size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Listing Agency:
ERA King Real Estate
(256) 442-1030
Listed By:
Sandra Patterson · License AL #84972
(256) 441-2439
Added: May 18
Changed: Nov 9
Last Checked: Nov 11 at 1:06PM
MLS# 21918391
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Investment Insights
Based on property information with market context.
This 3,852-square-foot mixed-use property in Gadsden combines a former medical office with an attached apartment of more than 1,700 square feet. The office area is approximately 2,100 square feet, and the layout includes an atrium, five bathrooms, carpet and tile flooring, central heating and air conditioning, and brick and wood construction. Residential zoning is identified for the property.
Two attached garages and a parking lot provide additional on-site space. The building was constructed in 1978 and has public water service, with shingle and metal roofing.
Two attached garages and a parking lot provide additional on-site space. The building was constructed in 1978 and has public water service, with shingle and metal roofing.
Key Highlights
- Former medical office with an attached apartment exceeding 1,700 sq ft
- Approximately 2,100 sq ft of office area
- 3,852‑square‑foot property with residential zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,957
Cap Rate
8.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$819,140
$819.1K
Cap Rate 7%
$585,100
$585.1K
Cap Rate 9%
$455,078
$455.1K
Market Conditions
NOI Build-Up for 3,852 SF
Gross rent
$76.3K $19.80/SF
− Vacancy
−$8.0K −$2.08/SF
EGI
$68.3K $17.72/SF
− OpEx
−$27.3K −$7.09/SF
NOI
$41.0K $10.63/SF
Area
Etowah County, AL
Vacancy
10.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$819,140
Cap Rate 7%
$585,100
Cap Rate 9%
$455,078
Alternative Uses
Best Use
Healthcare Medical
$585.1K
$512.0K – $682.6K
NOI $40,957 @ 7.0% cap · market cap 8.21%
Second Best
Mixed Use
$434.6K
$380.3K – $507.0K
NOI $30,421 @ 7.0% cap · market cap 6.10%
Theoretical Best
Specialty Retail
$629.8K
$551.1K – $734.8K
NOI $44,087 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,465
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A former medical office pairs with residential space and two attached garages.
Where is this mixed-use property located?
The property is located at 410 BAY STREET Gadsden, AL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Former medical office with an attached apartment exceeding 1,700 sq ft; Approximately 2,100 sq ft of office area; 3,852‑square‑foot property with residential zoning
