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Listing Agency: Keller Williams Tuscaloosa

Listed By: Mary Anne Williams · License #118568741 Show Phone

Source: Thegraygroupal

Added: Aug 8 Changed: Oct 8 Last Checked: Oct 9 at 5:05PM

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Investment Insights

Based on property information with market context.

This live-work property includes a three-bedroom, two-bath home on approximately three acres. C-3 commercial zoning supports residential use, office space, a business location, and other income-producing uses permitted by the zoning designation.

The property is located at 5602 Highway 69 N in Northport, along the Highway 69 North corridor. Its position on the corridor provides direct highway access and visibility. The offering combines an existing residential improvement with commercial zoning and a site that may accommodate additional plans permitted by applicable zoning.

Key Highlights

• Approximately three acres along the Highway 69 North corridor
• Three‑bedroom, two‑bath home
• C‑3 commercial zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,132

Cap Rate

5.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$522,640 $522.6K

Cap Rate 7%

$373,314 $373.3K

Cap Rate 9%

$290,356 $290.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,200 SF

Gross rent

$46.2K $21.00/SF

− Vacancy

−$4.4K −$2.00/SF

EGI

$41.8K $19.01/SF

− OpEx

−$15.7K −$7.13/SF

NOI

$26.1K $11.88/SF

Area

Tuscaloosa County, AL

Vacancy

9.50%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$522,640

Cap Rate 7%

$373,314

Cap Rate 9%

$290,356

Alternative Uses

Best Use

Mixed Use

$373.3K

$326.7K – $435.5K (±1% cap)

NOI $26,132 @ 7.0% cap · market cap 5.23%

Second Best

Office B

$364.0K

$318.5K – $424.7K (±1% cap)

NOI $25,483 @ 7.0% cap · market cap 5.10%

Theoretical Best

Office A

$528.7K

$462.6K – $616.8K (±1% cap)

NOI $37,008 @ 7.0% cap · market cap 7.40%

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

Property Analytics

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Current Use

Live-work space

Suggested Use

Top Pick Real Estate Agency Building Supply Auto Repair Shop Auto Parts Store Nail Salon HVAC Service

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

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

84

Businesses Nearby

Explore this area Business Placement

Demographics for 35473, AL

17,888

Population

8,601

Households

2.1

Avg Household Size

38

Median Age

37%

College-Educated

90%

High-School Grad

25.8 sq mi

ZIP Area

693

Density / Sq Mi

$67,224

Median Household Income

$44,581

Median Earnings

$922

Median Rent

$249,900

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

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Frequently Asked Questions

What type of property is this?

Live-work space - Three-bedroom, two-bath layout supports residential and office use under C-3 commercial zoning.

Where is this live-work space located?

The property is located at 5602 Highway 69 N Northport, AL.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: Approximately three acres along the Highway 69 North corridor; Three‑bedroom, two‑bath home; C‑3 commercial zoning