Church and Parsonage
For Sale
$159,900
5028 County Road 27, Fort Payne, AL 35968
COMMERCIAL - Fort Payne, AL
Property Size1,429 SF
Lot Size0.76 Acres
Price / SF$111.90
Days on Market334
Property Features for 5028 County Road 27
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Unzoned
Parking features
Parking Lot
Exterior features
Sidewalks
Directions
From Greenhill Blvd., Turn Left On Airport Road, Then Right On Cr 27. Proceed Up The Mountain And The Property Will Be On The Right. Look For Signs.
Standard status
Active
Size
1,429 SF
Lot size
0.76 Acres
Utilities
Sewer type
Septic Tank
Heating system
Propane (Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Floors in Building
1
Flooring type
Carpet
Roof type
Metal
Listing Agency:
Ole Heritage Realty, Inc.
(256) 997-0008
Listed By:
Sabrena Brasher · License #126780
(256) 404-1508
Added: Sep 13, 2025
Changed: Aug 4
Last Checked: Aug 12 at 6:06PM
MLS# 21899074
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Investment Insights
Based on property information with market context.
This 1,429-square-foot specialty property includes improvements that have been used as a church and parsonage. The site covers 0.76 acres and features a metal roof, carpeted flooring, propane heating, window-unit cooling, and a parking lot. Public water and septic service support the property, while sidewalks provide on-site pedestrian access.
The property is located at 5028 County Road 27 in Fort Payne, Alabama, within DeKalb County. Its existing religious-facility configuration may suit continued church and parsonage use, subject to applicable requirements. The source information also identifies possible consideration for rental, warehouse, small-factory, or storage-unit use, with feasibility and approvals to be confirmed by the purchaser.
The property is located at 5028 County Road 27 in Fort Payne, Alabama, within DeKalb County. Its existing religious-facility configuration may suit continued church and parsonage use, subject to applicable requirements. The source information also identifies possible consideration for rental, warehouse, small-factory, or storage-unit use, with feasibility and approvals to be confirmed by the purchaser.
Key Highlights
- 1,429‑square‑foot property on 0.76 acres
- Previously used as a church and parsonage
- Metal roof with carpeted flooring
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
$5,481
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
3.43%
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%
$109,620
$109.6K
Cap Rate 7%
$78,300
$78.3K
Cap Rate 9%
$60,900
$60.9K
Market Conditions
NOI Build-Up for 1,429 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
$6.9K $4.80/SF
− Vacancy
−$412 −$0.29/SF
EGI
$6.4K $4.51/SF
− OpEx
−$967 −$0.68/SF
NOI
$5.5K $3.84/SF
Area
DeKalb County, AL
Vacancy
6.00%
Lease Rate
$4.80 /SF/Yr
Expense Ratio
15.00%
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%
$109,620
Cap Rate 7%
$78,300
Cap Rate 9%
$60,900
Alternative Uses
Best Use
Warehouse
$78.3K
$68.5K – $91.4K
NOI $5,481 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$230.2K
$201.4K – $268.6K
NOI $16,115 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 35968, AL
5,115
Population
1,968
Households
2.6
Avg Household Size
42
Median Age
12%
College-Educated
82%
High-School Grad
63.6 sq mi
ZIP Area
80
Density / Sq Mi
$44,902
Median Household Income
$32,292
Median Earnings
$679
Median Rent
$116,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Existing church and parsonage improvements with public water, septic service, parking, and sidewalk access.
Where is this church & religious facility located?
The property is located at 5028 County Road 27 Fort Payne, AL.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: 1,429‑square‑foot property on 0.76 acres; Previously used as a church and parsonage; Metal roof with carpeted flooring
