Mixed-Use Property with
For Sale
$499,000
410 Bay Street, Gadsden, AL 35901
Business Opportunity, Gadsden, AL
Property Size3,852 SF
Lot Size0.49 Acres
Price / SF$129.54
Days on Market105
Property Features for 410 Bay Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bathroom 4, Bathroom 5, Bathroom 1, Bathroom 3
Parking features
Garage
Exterior features
Curb/Gutters, Sidewalks
Subdivision
Metes And Bounds
Lot features
High Visibility
Directions
From Hwy 411 Turn Onto S Fourth Street, Then Left Onto Bay Street.
Standard status
Active
APN
1502091000164.000
Size
3,852 SF
Lot size
0.49 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1978
Flooring type
Carpet, Tile
Roof type
Shingle, Metal
Listing Agency:
Era King Real Estate
(256) 442-1030
Listed By:
Sandra Patterson · License #84972
(256) 441-2439
Added: May 19
Changed: Aug 24
Last Checked: Aug 31 at 2:06AM
MLS# 21918391
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3852-square-foot mixed-use property includes a former medical office area of approximately 2,100+/- square feet and an attached apartment exceeding 1,700 square feet. The layout also includes a possible second living space that may be incorporated into the office area, subject to the buyer’s plans. Two separate attached garages provide enclosed areas for parking, storage, or workspace. Interior finishes include carpet and tile, with central heating and central air conditioning.
Situated on 0.4922 acres at 410 Bay Street in Gadsden, Alabama, the property has curb-and-gutter improvements and sidewalks. Public water and public sewer serve the site. The 1978 building has both shingle and metal roof sections, supporting a range of professional, residential, or combined uses within the existing configuration.
Situated on 0.4922 acres at 410 Bay Street in Gadsden, Alabama, the property has curb-and-gutter improvements and sidewalks. Public water and public sewer serve the site. The 1978 building has both shingle and metal roof sections, supporting a range of professional, residential, or combined uses within the existing configuration.
Key Highlights
- 3852‑square‑foot mixed‑use property on 0.4922 acres
- Attached apartment measuring 1,700+ sq ft
- Former medical office area of approximately 2,100+/- sq ft
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
$40,957
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
8.21%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,465
Businesses Nearby
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?
Mixed-use property - Former medical office with an attached apartment, flexible interior arrangement, and two separate 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: 3852‑square‑foot mixed‑use property on 0.4922 acres; Attached apartment measuring 1,700+ sq ft; Former medical office area of approximately 2,100+/- sq ft
