Two-Level Office and Retail
For Sale
Contact for pricing
604 Gayle Street, Gardendale, AL 35071
Two-level office/medical/retail building suitable for professional services, formerly a veterinary clinic.
Property Size9,240 SF
Price / SF$200.22
Days on Market51
Property Features for 604 Gayle Street
General Information
Standard status
Active
Size
9,240 SF
Property subtype
Retail, Office
Zoning
C-2 Gardendale
Lease Type
NNN
Building Details
Year Built
2007
Buildings
1
Stories
2
Listing Agency:
LAH Commercial Real Estate Mountain Brook
(205) 478-7805
Listed By:
Austin Blair · License #AL 000075950
Source:
Crexi
Added: Jun 30
Changed: Aug 15
Last Checked: Aug 18 at 9:17PM
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 LAH Commercial Real Estate Mountain Brook
Investment Insights
Based on property information with market context.
This two-level commercial building totals 9,240± SF, with approximately 4,620 SF on each floor. Constructed in 2007, the property has previously been used as a veterinary clinic, and it is described as suitable for a variety of professional business uses. The building is offered for sale or lease, providing flexibility for an owner-occupant or an operating tenant.
The asset is located directly across from a Publix building, within a dense retail area where visibility is a stated feature of the site. Public remarks also reference strong location and visibility to support retail and service-oriented use cases.
For tenants or buyers seeking a ready-to-fit professional environment, the former clinic history may align well with office or medical applications, while the multi-use positioning also supports retail service concepts. The two-floor configuration can accommodate separate functions or teams by level, subject to business requirements and any applicable approvals.
The asset is located directly across from a Publix building, within a dense retail area where visibility is a stated feature of the site. Public remarks also reference strong location and visibility to support retail and service-oriented use cases.
For tenants or buyers seeking a ready-to-fit professional environment, the former clinic history may align well with office or medical applications, while the multi-use positioning also supports retail service concepts. The two-floor configuration can accommodate separate functions or teams by level, subject to business requirements and any applicable approvals.
Key Highlights
- 9,240 ± SF two‑level office/medical/retail building (4,620 SF per floor)
- Year built 2007
- Previously used as a veterinary clinic; suitable for a variety of uses
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
$162,832
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
8.80%
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%
$3,256,640
$3.3M
Cap Rate 7%
$2,326,171
$2.3M
Cap Rate 9%
$1,809,244
$1.8M
Market Conditions
NOI Build-Up for 9,240 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
$245.0K $26.52/SF
− Vacancy
−$27.9K −$3.02/SF
EGI
$217.1K $23.50/SF
− OpEx
−$54.3K −$5.87/SF
NOI
$162.8K $17.62/SF
Area
Jefferson County, AL
Vacancy
11.40%
Lease Rate
$26.52 /SF/Yr
Expense Ratio
25.00%
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%
$3,256,640
Cap Rate 7%
$2,326,171
Cap Rate 9%
$1,809,244
Alternative Uses
Best Use
Office B
$2.33M
$2.04M – $2.71M
NOI $162,832 @ 7.0% cap · market cap 8.80%
Second Best
Healthcare Medical
$2.24M
$1.96M – $2.61M
NOI $156,791 @ 7.0% cap · market cap 8.48%
Theoretical Best
Office A
$3.18M
$2.78M – $3.71M
NOI $222,512 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35071, AL
17,162
Population
7,054
Households
2.4
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
57.7 sq mi
ZIP Area
297
Density / Sq Mi
$80,745
Median Household Income
$57,103
Median Earnings
$1,183
Median Rent
$239,500
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.
Similar Off Market Nearby
- Mercy Animal Hospital — 604 Gayle St, Gardendale, AL 35071
- Trammell Miranda DVM — 604 Gayle St, Gardendale, AL 35071
- Mercy Animal Hospital: Mc Kim Brandon DVM — 604 Gayle St, Gardendale, AL 35071
- Gardendale Pet Clinic — 1143 Pecan Ave, Gardendale, AL 35071
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-level office/medical/retail building suitable for professional services, formerly a veterinary clinic.
Where is this medical office space located?
The property is located at 604 Gayle Street Gardendale, AL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 9,240 ± SF two‑level office/medical/retail building (4,620 SF per floor); Year built 2007; Previously used as a veterinary clinic; suitable for a variety of uses
