Two-Building Office
New
For Sale
$815,000
4165 Carmichael Rd & 1406 I85 Parkway, Montgomery, AL 36109
Fully leased office asset with brick construction, dedicated parking, and direct Interstate 85 access.
Property Size4,079 SF
Days on Market3
Property Features for 4165 Carmichael Rd & 1406 I85 Parkway
General Information
Standard status
Active
Size
4,079 SF
Class
B
Property subtype
Multi Tenant Office
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
4,079 SF
Year Built
1987
Buildings
2
Construction
brick
Listing Agency:
Moore Company Realty, Inc
(334) 262-1958
Listed By:
Gene Cody, CCIM
(334) 262-1958
Source:
Thebrokerlist
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 11 at 4:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Moore Company Realty, Inc
Investment Insights
Based on property information with market context.
This office property comprises two brick buildings at 4165 Carmichael Road and 1406 I-85 Parkway in Montgomery. Constructed in 1987, the asset is 100% leased and includes dedicated on-site parking for occupants and visitors.
The property occupies the intersection of Carmichael Road and I-85 Parkway, with immediate access to Interstate 85. The site is near Montgomery Academy and Wahoo's Oyster Bar and Grill, within an established professional and medical corridor. Its two-building configuration supports office occupancy across the combined addresses while retaining convenient access from the surrounding roadway network.
The property occupies the intersection of Carmichael Road and I-85 Parkway, with immediate access to Interstate 85. The site is near Montgomery Academy and Wahoo's Oyster Bar and Grill, within an established professional and medical corridor. Its two-building configuration supports office occupancy across the combined addresses while retaining convenient access from the surrounding roadway network.
Key Highlights
- 100% leased office property
- Two brick office buildings at 4165 Carmichael Road and 1406 I‑85 Parkway
- Constructed in 1987
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
$45,155
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
5.54%
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%
$903,100
$903.1K
Cap Rate 7%
$645,071
$645.1K
Cap Rate 9%
$501,722
$501.7K
Market Conditions
NOI Build-Up for 4,079 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
$73.4K $18.00/SF
− Vacancy
−$13.2K −$3.24/SF
EGI
$60.2K $14.76/SF
− OpEx
−$15.1K −$3.69/SF
NOI
$45.2K $11.07/SF
Area
Montgomery, AL
Vacancy
18.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$903,100
Cap Rate 7%
$645,071
Cap Rate 9%
$501,722
Alternative Uses
Best Use
Office B
$645.1K
$564.4K – $752.6K
NOI $45,155 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$845.8K
$740.1K – $986.8K
NOI $59,208 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,313
Businesses Nearby
Explore this area
Business Placement
Demographics for 36109, AL
24,176
Population
11,273
Households
2.1
Avg Household Size
41
Median Age
30%
College-Educated
92%
High-School Grad
11.3 sq mi
ZIP Area
2,139
Density / Sq Mi
$61,059
Median Household Income
$37,876
Median Earnings
$1,108
Median Rent
$134,900
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?
Office building - Fully leased office asset with brick construction, dedicated parking, and direct Interstate 85 access.
Where is this office building located?
The property is located at 4165 Carmichael Rd & 1406 I85 Parkway Montgomery, AL.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: 100% leased office property; Two brick office buildings at 4165 Carmichael Road and 1406 I‑85 Parkway; Constructed in 1987
