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    Historic Retail Office Building Title is generated by Realmo AI

    603 Bank Street NE, Decatur, AL 35601

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    For Sale
    $365,900

    SINGLE_FAMILY - Decatur, AL

    Type:Office
    Property size:
    2,500 SF
    Price / SF:
    $146/SF
    Added:
    Apr 16, 2026
    Days on Market:
    74
    Last Refresh:
    Jun 28 at 8:06 pm

    Property Features for 603 Bank Street NE

    General Information

    Property type
    Residential
    Property subtype
    Office
    Bathrooms
    1
    Rooms
    Bathroom 1
    Standard status
    Active
    Size
    2,500 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Natural Gas, Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1910
    Floors in Building
    1
    Flooring type
    Concrete, Wood

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    Jody Peterson

    Listing agent Jody Peterson License #21700

    Listing office Realty Group Of Alabama 2042 Beltline Rd, SW Ste 317e, AL

    Listing date Apr 16, 2026

    MLS# 21887029

    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.

    HighLights

    • Built in 1910 with original brick front and remaining tin square ceilings
    • Roof is less than 10 years old
    • Flooring includes concrete and wood
    • Utilities: public water and public sewer
    • Heating includes central, electric, and natural gas; cooling is central air
    • Interior walls can be taken down easily (not permanent) and the space includes 1 bathroom

    Overview

    This historic building, constructed in 1900, offers a flexible interior that can accommodate office or retail use. The property retains original architectural details, including tin square ceilings and original crown molding, and it features an original brick front. A copper awning protects the front entrance. The roof is less than 10 years old. Interior walls are described as non-permanent, allowing for reconfiguration as needed, while optional wall retention is available if you prefer the existing layout.

    Located at 603 Bank Street NE in Decatur, the building sits within the Bank Street entertainment district. The area is characterized by specialty shops and restaurants, and the remarks note plenty of parking. The public remarks also indicate that over 200 new apartments are planned nearby, supporting continued activity in the surrounding area.

    For tenants and buyers, the space is positioned for businesses that benefit from a main-street retail environment while still having the flexibility of an office-ready shell. With the ability to remove interior walls and adapt the floor plan, operators can tailor the layout to their product display, service flow, or workspace needs without extensive structural changes. The combination of updated roof condition and intact original exterior and interior features makes the building a practical option for a retail or office conversion in a walk-and-park setting.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $43.5k $17.40
    − Vacancy −$9.6k −$3.83
    EGI $33.9k $13.57
    − OpEx −$8.5k −$3.39
    NOI $25.4k $10.18
    2,500 SF · lease $17.40/SF/yr · vacancy 22.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $363.5K
    $318.1K – $424.1K (±1% cap)
    NOI $25,448 @ 7.0% cap · market cap 6.95%
    Second Best
    Retail
    $295.4K
    $258.4K – $344.6K (±1% cap)
    NOI $20,675 @ 7.0% cap · market cap 5.65%
    Theoretical Best
    Office A
    $520.1K
    $455.1K – $606.8K (±1% cap)
    NOI $36,408 @ 7.0% cap · market cap 9.95%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Peterson Rentals Real Estate Agency Realty Group of Alabama Real Estate Agency

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Law Firm Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    Morgan
    State
    Alabama
    Longitude
    -86.9862117
    Latitude
    34.6119417

    FAQs

    What type of property is this?
    Office units - 1900-built building with flexible interior layout, original brick front, copper awning, and tin square ceilings for retail or office use.
    Where is this office units located?
    The property is located at 603 Bank Street NE Decatur, AL.
    What is the asking price?
    The asking price for this property is $365,900.
    What are key features of this property?
    This property features: Built in 1910 with original brick front and remaining tin square ceilings; Roof is less than 10 years old; Flooring includes concrete and wood
    More about this property
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