Building Details

Year built 2009

Floors in Building 1

Flooring type Concrete

Buildings 1

Listing Agency: Essential Real Estate Decatur Show Phone

Listed By: Chance Higdon · License #77903 Show Phone

Added: Jul 24, 2025 Changed: Oct 29 Last Checked: Oct 30 at 7:06AM

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MLS# 21895030

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 3,640-square-foot storefront building was constructed in 2009 and has concrete flooring, one bathroom, and public water service. The site also includes a paved parking lot; the property is described as suitable for retail or restaurant use.

The building is on Douglas Road in Falkville, just off I-65 Exit 322 and beside Love’s.

Key Highlights

• 3,640‑square‑foot commercial building
• Built in 2009
• Paved parking lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,102

Cap Rate

7.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$602,040 $602.0K

Cap Rate 7%

$430,029 $430.0K

Cap Rate 9%

$334,467 $334.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,640 SF

Gross rent

$48.0K $13.20/SF

− Vacancy

−$5.0K −$1.39/SF

EGI

$43.0K $11.81/SF

− OpEx

−$12.9K −$3.54/SF

NOI

$30.1K $8.27/SF

Area

Morgan County, AL

Vacancy

10.50%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$602,040

Cap Rate 7%

$430,029

Cap Rate 9%

$334,467

Alternative Uses

Best Use

Retail

$430.0K

$376.3K – $501.7K (±1% cap)

NOI $30,102 @ 7.0% cap · market cap 7.00%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$757.3K

$662.6K – $883.5K (±1% cap)

NOI $53,010 @ 7.0% cap · market cap 12.33%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Building Supply Auto Parts Store Big Box & Wholesale Store Plumbing Service (Bike/Boat/Book/etc) Store Storage Facility

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

Location Intelligence

Trade Area within ½ mile

64

Businesses Nearby

15k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Marathon Petroleum Shops & Services

9,643 visits/mo 0.4 miles

Chevron Shops & Services

4,973 visits/mo 0.2 miles

Demographics for 35622, AL

7,257

Population

2,803

Households

2.6

Avg Household Size

43

Median Age

12%

College-Educated

88%

High-School Grad

96.4 sq mi

ZIP Area

75

Density / Sq Mi

$53,354

Median Household Income

$37,182

Median Earnings

$880

Median Rent

$174,400

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

Storefront property - The concrete-floored property includes a bathroom and public water service.

Where is this storefront property located?

The property is located at 59 DOUGLAS ROAD Falkville, AL.

What is the asking price?

The asking price for this property is $429,900.

What are key features of this property?

This property features: 3,640‑square‑foot commercial building; Built in 2009; Paved parking lot