Three-Unit Multifamily
For Sale
$445,000
602 Beirne Avenue, Huntsville, AL 35801
Residential Income, Huntsville, AL
Property Size1,920 SF
Lot Size0.13 Acres
Price / SF$231.77
Days on Market55
Property Features for 602 Beirne Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi Family
Parking
3
Parking features
Garage
Appliances
Oven, Refrigerator, Electric Water Heater
Subdivision
East Huntsville
Elementary school
Martin Luther King Jr
Middle school
Chapman
High school
Lee High School
Directions
From Governors Drive, Go North On California St, Which Turns Into Andrew Jackson Way. After Star Market, Take A Left On Beirne Ave; Triplex Will Be On The Left.
Standard status
Active
Size
1,920 SF
Lot size
0.13 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Number of units
3
Listing Agency:
Averbuch Realty
(256) 883-6600
Listed By:
Abbie Spray · License #132942
(931) 993-1360
Added: Jun 29
Changed: Aug 19
Last Checked: Aug 22 at 3:06PM
MLS# 21912701
Copyright © 2026 ValleyMLS.Com,Inc. 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 three-unit multifamily property contains 1,920 square feet on a 0.1304-acre lot. The improvements include a garage, central heating, and central air conditioning, with an oven, refrigerator, and electric water heater in place.
The property is positioned near downtown Huntsville, the medical district, and Huntsville Hospital. It is served by public water and public sewer and carries R2B multifamily zoning.
The property is positioned near downtown Huntsville, the medical district, and Huntsville Hospital. It is served by public water and public sewer and carries R2B multifamily zoning.
Key Highlights
- Triplex with 1,920 square feet of property size
- 0.1304‑acre lot
- R2B multifamily 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
$14,006
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
3.15%
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%
$280,120
$280.1K
Cap Rate 7%
$200,086
$200.1K
Cap Rate 9%
$155,622
$155.6K
Market Conditions
NOI Build-Up for 1,920 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
$24.2K $12.60/SF
− Vacancy
−$4.2K −$2.18/SF
EGI
$20.0K $10.42/SF
− OpEx
−$6.0K −$3.13/SF
NOI
$14.0K $7.30/SF
Area
Huntsville, AL
Vacancy
17.29%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
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%
$280,120
Cap Rate 7%
$200,086
Cap Rate 9%
$155,622
Alternative Uses
Best Use
Multifamily LT 5
$200.1K
$175.1K – $233.4K
NOI $14,006 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$173.3K
$151.6K – $202.1K
NOI $12,128 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$500.0K
$437.5K – $583.3K
NOI $34,998 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,035
Businesses Nearby
Explore this area
Business Placement
Demographics for 35801, AL
22,539
Population
11,225
Households
2
Avg Household Size
43
Median Age
55%
College-Educated
90%
High-School Grad
13.8 sq mi
ZIP Area
1,633
Density / Sq Mi
$103,125
Median Household Income
$60,370
Median Earnings
$1,130
Median Rent
$399,700
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Triplex - R2B-zoned property with central heating and air conditioning.
Where is this triplex located?
The property is located at 602 Beirne Avenue Huntsville, AL.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Triplex with 1,920 square feet of property size; 0.1304‑acre lot; R2B multifamily zoning
