Two-Tenant Medical Office
For Sale
Contact for pricing
454 McQueen Smith Rd S, Prattville, AL 36066
Fully occupied dental office property with an NNN lease structure and two tenant spaces.
Property Size3,910 SF
Price / SF$286.45
Days on Market152
Property Features for 454 McQueen Smith Rd S
General Information
Standard status
Active
Size
3,910 SF
Property subtype
Office
Occupancy
100%
Net Operating Income
$95,240
Additional Details
Cap Rate
8.5%
Building Details
Year Built
2001
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Matthews
(615) 667-0097
Listed By:
Hutt Cooke · License #TN 263667
Source:
Crexi
Added: Apr 2
Changed: Aug 30
Last Checked: Aug 30 at 7:40PM
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 Matthews
Investment Insights
Based on property information with market context.
This medical office property contains 3,910 square feet configured for two dental tenants. Built in 2001, the building is reported to be 100% occupied and operates under an NNN lease structure. The asset is located at 454 McQueen Smith Rd S in Prattville, Alabama, with a 36066 ZIP code. The property’s stated 8.5% cap rate provides an additional underwriting metric for purchasers evaluating the asset. Its medical-office classification and existing dental configuration support continued use as a professional healthcare property, subject to buyer verification of leases, physical condition, and operating details.
Key Highlights
- 3,910‑square‑foot medical office property
- Two dental tenant spaces
- 100% occupied
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
$43,284
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
3.86%
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%
$865,680
$865.7K
Cap Rate 7%
$618,343
$618.3K
Cap Rate 9%
$480,933
$480.9K
Market Conditions
NOI Build-Up for 3,910 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
$70.4K $18.00/SF
− Vacancy
−$12.7K −$3.24/SF
EGI
$57.7K $14.76/SF
− OpEx
−$14.4K −$3.69/SF
NOI
$43.3K $11.07/SF
Area
Autauga County, 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%
$865,680
Cap Rate 7%
$618,343
Cap Rate 9%
$480,933
Alternative Uses
Best Use
Office B
$618.3K
$541.1K – $721.4K
NOI $43,284 @ 7.0% cap · market cap 3.86%
Second Best
Healthcare Medical
$615.3K
$538.4K – $717.9K
NOI $43,073 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$810.8K
$709.4K – $945.9K
NOI $56,754 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
538
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 36066, AL
22,206
Population
9,201
Households
2.4
Avg Household Size
37
Median Age
45%
College-Educated
95%
High-School Grad
20.1 sq mi
ZIP Area
1,105
Density / Sq Mi
$80,364
Median Household Income
$47,110
Median Earnings
$1,300
Median Rent
$220,900
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?
Medical Office Space - Fully occupied dental office property with an NNN lease structure and two tenant spaces.
Where is this medical office space located?
The property is located at 454 McQueen Smith Rd S Prattville, AL.
What is the asking price?
The asking price for this property is $1,120,000.
What are key features of this property?
This property features: 3,910‑square‑foot medical office property; Two dental tenant spaces; 100% occupied
