Office Building with Conference
For Sale
$565,000
515- HARGROVE Road E, Tuscaloosa, AL 35401
COMMERCIAL - Tuscaloosa, AL
Property Size2,328 SF
Lot Size0.30 Acres
Price / SF$242.70
Days on Market52
Property Features for 515- HARGROVE Road E
General Information
Property type
Commercial Sale
Property subtype
Office
Security features
Security
Exterior features
Landscaping, SecurityLighting
Directions
MCFARLAND BLVD TRAVELING E. TURN RIGHT ONTO HARGROVE RD. OFFICE LOCATED ON LEFT BEFORE RED LIGHT
Subdivision
(02) Central Tuscaloosa City
Standard status
Active
APN
31-07-25-4-007-007.000
Size
2,328 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Description
LOT PT 6 IN BLK G IN RESURV OF ROSE PLACE
Tax Annual Amount
3980
Legal Description
LOT PT 6 IN BLK G IN RESURV OF ROSE PLACE
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Amenities
hardwood and tile throughout
3 bathrooms
kitchen with granite countertops, custom maple cabinetry, dishwasher, fridge
conference room with granite bar, fridge, and private bath
large reception area
reception desk
ADA compliant restrooms
water fountain
ADA compliant ramp with railing
two brand new HVAC systems
Building Details
Number of units
8
Flooring type
Hardwood, Wood
Building materials
Brick
Roof type
Shingle, Composition
Listing Agency:
Pritchett Moore Real Estate
(205) 349-6500
Listed By:
Charles Holliman
(205) 792-0887
Added: Jun 29
Changed: Aug 19
Last Checked: Aug 19 at 5:06PM
MLS# 176064
Copyright © 2026 West Alabama Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,328-square-foot office building occupies a 0.3-acre parcel in Tuscaloosa. The brick structure includes 8 offices, a large reception area, conference room, kitchen, 3 bathrooms, and hardwood and tile flooring. The kitchen has granite countertops, custom maple cabinetry, a dishwasher, and refrigerator. The conference room adds a granite bar, refrigerator, and private bathroom. Additional features include a reception desk, water fountain, ADA-compliant restrooms, and an exterior ramp with railing.
The property provides 10 plus parking spaces and includes landscaping and security lighting. Central electric heating and central air serve the building, with two brand new HVAC systems installed in October 2025. The composition shingle roof and brick exterior complete the building improvements.
The property provides 10 plus parking spaces and includes landscaping and security lighting. Central electric heating and central air serve the building, with two brand new HVAC systems installed in October 2025. The composition shingle roof and brick exterior complete the building improvements.
Key Highlights
- 2,328‑square‑foot office building on a 0.3‑acre parcel
- 8 offices with a large reception area and reception desk
- Conference room with granite bar, refrigerator, and private bathroom
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
$26,965
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
4.77%
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%
$539,300
$539.3K
Cap Rate 7%
$385,214
$385.2K
Cap Rate 9%
$299,611
$299.6K
Market Conditions
NOI Build-Up for 2,328 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
$46.1K $19.80/SF
− Vacancy
−$10.1K −$4.36/SF
EGI
$36.0K $15.44/SF
− OpEx
−$9.0K −$3.86/SF
NOI
$27.0K $11.58/SF
Area
Tuscaloosa, AL
Vacancy
22.00%
Lease Rate
$19.80 /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%
$539,300
Cap Rate 7%
$385,214
Cap Rate 9%
$299,611
Alternative Uses
Best Use
Office B
$385.2K
$337.1K – $449.4K
NOI $26,965 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$559.4K
$489.5K – $652.7K
NOI $39,161 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Office units
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
Explore this area
Business Placement
Demographics for 35401, AL
41,852
Population
19,517
Households
2.1
Avg Household Size
26
Median Age
27%
College-Educated
85%
High-School Grad
40.1 sq mi
ZIP Area
1,044
Density / Sq Mi
$30,031
Median Household Income
$13,041
Median Earnings
$911
Median Rent
$141,100
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 - Brick office property with eight offices, a reception area, kitchen, conference room, and ADA-compliant access features.
Where is this office building located?
The property is located at 515- HARGROVE Road E Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 2,328‑square‑foot office building on a 0.3‑acre parcel; 8 offices with a large reception area and reception desk; Conference room with granite bar, refrigerator, and private bathroom
