Building Details

Building Size 2,884 SF

Year Built 1976

Buildings 1

Stories 1

Construction masonite

Listing Agency: NAI Chase Commercial | Birmingham

Listed By: Frank LaRussa Show Phone

Source: Chasecommercial

Added: May 14 Changed: Oct 12 Last Checked: Oct 14 at 9:50PM

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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 NAI Chase Commercial | Birmingham

Investment Insights

Based on property information with market context.

This 2,900-square-foot, single-story masonite office building occupies 0.68 acres at 5053 Main Dr in New Hope, Alabama. The interior includes four private offices, a large open area, lobby and reception space, kitchen and breakroom facilities, and multiple restrooms. The property was built in 1976 and retains features from its former bank-branch configuration, including an existing vault and two drive-thru canopies.

On-site parking is included. The combination of enclosed office areas, open workspace, customer-facing reception space, and drive-thru improvements provides a defined commercial layout for office operations and other uses supported by the existing building configuration.

Key Highlights

• 2,900 SF single‑story masonite commercial building
• 0.68‑acre site at 5053 Main Dr, New Hope, AL 35760
• Former bank branch with existing vault

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,507

Cap Rate

9.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$810,140 $810.1K

Cap Rate 7%

$578,671 $578.7K

Cap Rate 9%

$450,078 $450.1K

Market Conditions

NOI Build-Up for 2,900 SF

Gross rent

$55.7K $19.20/SF

− Vacancy

−$1.7K −$0.58/SF

EGI

$54.0K $18.62/SF

− OpEx

−$13.5K −$4.66/SF

NOI

$40.5K $13.97/SF

Area

Madison County, AL

Vacancy

3.00%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$810,140

Cap Rate 7%

$578,671

Cap Rate 9%

$450,078

Alternative Uses

Best Use

Specialty Retail

$578.7K

$506.3K – $675.1K (±1% cap)

NOI $40,507 @ 7.0% cap · market cap 9.02%

Second Best

Office B

$529.3K

$463.1K – $617.5K (±1% cap)

NOI $37,049 @ 7.0% cap · market cap 8.25%

Theoretical Best

Office A

$755.2K

$660.8K – $881.0K (±1% cap)

NOI $52,861 @ 7.0% cap · market cap 11.77%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Building Supply HVAC Service Law Firm Auto Parts Store Bakery Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

45

Businesses Nearby

Explore this area Business Placement

Demographics for 35760, AL

5,186

Population

1,935

Households

2.7

Avg Household Size

42

Median Age

28%

College-Educated

90%

High-School Grad

50.7 sq mi

ZIP Area

102

Density / Sq Mi

$66,346

Median Household Income

$50,711

Median Earnings

$790

Median Rent

$164,500

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - Single-story commercial layout includes private offices, open workspace, reception, and support areas.

Where is this office building located?

The property is located at 5053 Main Dr New Hope, AL.

What is the asking price?

The asking price for this property is $449,000.

What are key features of this property?

This property features: 2,900 SF single‑story masonite commercial building; 0.68‑acre site at 5053 Main Dr, New Hope, AL 35760; Former bank branch with existing vault