Office Building with
For Sale
$449,000
5053 Main Dr, New Hope, AL 35760
Single-story commercial layout includes private offices, open workspace, reception, and support areas.
Property Size2,884 SF
Lot Size0.68 Acres
Price / SF$154.83
Days on Market110
Property Features for 5053 Main Dr
General Information
Standard status
Active
Size
2,884 SF
Class
B
Lot size
0.68 Acres
Property subtype
Office
Additional Details
Asking Price
$449,000
Amenities
drive-thru canopy
vault
Building Details
Building Size
2,884 SF
Year Built
1976
Buildings
1
Stories
1
Construction
masonite
Listing Agency:
NAI Chase Commercial | Birmingham
(256) 962-5552
Listed By:
Frank LaRussa
(256) 962-5552
Source:
Chasecommercial
Added: May 14
Changed: Aug 30
Last Checked: Aug 30 at 1:19PM
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.
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 = 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
$40,507
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
9.02%
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%
$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
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
$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 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%
$810,140
Cap Rate 7%
$578,671
Cap Rate 9%
$450,078
Alternative Uses
Best Use
Specialty Retail
$578.7K
$506.3K – $675.1K
NOI $40,507 @ 7.0% cap · market cap 9.02%
Second Best
Office B
$529.3K
$463.1K – $617.5K
NOI $37,049 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$755.2K
$660.8K – $881.0K
NOI $52,861 @ 7.0% cap · market cap 11.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
