Live-Work Property with Commercial
For Sale
$550,000
5602 Highway 69 N, Northport, AL 35473
CommercialSale, Northport, AL
Property Size2,200 SF
Lot Size2.97 Acres
Price / SF$250
Days on Market47
Property Features for 5602 Highway 69 N
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Covered
Directions
Turn onto 69 North from 82, go 1.5 miles and the destination is on your left.
Subdivision
(06) Northport City
Standard status
Active
APN
20-08-34-3-005-010.000
Size
2,200 SF
Lot size
2.97 Acres
Taxes and HOA fees
Tax Description
Beg S.E. Cor Lot 12 Northwood Sub #12 - 4th Sec Pb 11/5 Th. N. 89'S To Pob, E. 387.2', N. 328.3' Along W. Line Ala. No. 69, W. 394.8', S. 328.5' To P.O.B.
Tax Annual Amount
688
Legal Description
Beg S.E. Cor Lot 12 Northwood Sub #12 - 4th Sec Pb 11/5 Th. N. 89'S To Pob, E. 387.2', N. 328.3' Along W. Line Ala. No. 69, W. 394.8', S. 328.5' To P.O.B.
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Building Details
Number of units
1
Building materials
Brick
Roof type
Shingle, Composition
Listing Agency:
Keller Williams Tuscaloosa · Keller Williams Realty
(205) 759-3400
Listed By:
Mary Anne Williams · License #118568741
(205) 454-2979
Added: Aug 6
Changed: Sep 19
Last Checked: Sep 21 at 1:06AM
MLS# 176749
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 2,200-square-foot live-work property includes a three-bedroom, two-bath residence with brick construction, a shingle and composition roof, central air, and electric central heating. Covered parking is also provided. The existing layout can support residential occupancy, office use, a business location, or other uses permitted under the C-3 commercial zoning designation.
The property occupies 2.97 acres along Highway 69 N in Northport, providing a substantial commercial land component alongside the existing improvements. Its placement within the Highway 69 North corridor offers direct highway access and visibility, while the combination of building, acreage, and zoning creates flexibility for a range of permitted commercial or live-work applications.
The property occupies 2.97 acres along Highway 69 N in Northport, providing a substantial commercial land component alongside the existing improvements. Its placement within the Highway 69 North corridor offers direct highway access and visibility, while the combination of building, acreage, and zoning creates flexibility for a range of permitted commercial or live-work applications.
Key Highlights
- 2.97‑acre property along Highway 69 N in Northport
- 2,200‑square‑foot three‑bedroom, two‑bath residence
- 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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Live-work space - Three-bedroom property with C-3 zoning supports residential, office, or other permitted commercial uses.
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: 2.97‑acre property along Highway 69 N in Northport; 2,200‑square‑foot three‑bedroom, two‑bath residence; C‑3 commercial zoning
