Commercial Live-Work
For Sale
$550,000
5602 Highway 69 N, Northport, AL 35473
Three-bedroom, two-bath layout supports residential and office use under C-3 commercial zoning.
Property Size2,200 SF
Lot Size3.00 Acres
Price / SF$250
Days on Market23
Property Features for 5602 Highway 69 N
General Information
Standard status
Active
Size
2,200 SF
Lot size
3.00 Acres
Property subtype
Commercial
Zoning
C-3
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Land Use
residential, commercial
Listing Agency:
Keller Williams Tuscaloosa
(205) 454-2979
Listed By:
Mary Anne Williams · License #118568741
Source:
Thegraygroupal
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 29 at 6:20AM
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 Keller Williams Tuscaloosa
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.
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 = 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
$26,132
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
4.75%
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%
$522,640
$522.6K
Cap Rate 7%
$373,314
$373.3K
Cap Rate 9%
$290,356
$290.4K
Market Conditions
NOI Build-Up for 2,200 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
$46.2K $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 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%
$522,640
Cap Rate 7%
$373,314
Cap Rate 9%
$290,356
Alternative Uses
Best Use
Mixed Use
$373.3K
$326.7K – $435.5K
NOI $26,132 @ 7.0% cap · market cap 4.75%
Second Best
Office B
$364.0K
$318.5K – $424.7K
NOI $25,483 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$528.7K
$462.6K – $616.8K
NOI $37,008 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 $550,000.
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
