Freestanding Office
For Sale
$325,000
608 17th St, Phenix City, AL 36867
Five private offices, two restrooms, reception space, and an employee break room support day-to-day operations.
Property Size1,542 SF
Price / SF$210.77
Days on Market294
Property Features for 608 17th St
General Information
Standard status
Active
Size
1,542 SF
Listing Agency:
Keller Williams Realty River Cities
(706) 615-4470
Listed By:
Steve Kash · License #86717
(706) 615-4470
Source:
Exprealty
Added: Nov 10, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:02AM
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 Keller Williams Realty River Cities
Investment Insights
Based on property information with market context.
This 1542 SqFt freestanding office building provides a practical layout with five private offices, two restrooms, a reception area, and an employee break room. The property also includes ADA-compliant access, six on-site parking spaces, insulated windows, a covered front porch, hard plank siding, and stacked rock trim.
Situated at the corner of Broad Street and 17th Street, the building offers a visible, easily accessible setting in Phenix City, Alabama. Its Craftsman-style exterior and dedicated parking create a professional arrival experience for staff and visitors.
Situated at the corner of Broad Street and 17th Street, the building offers a visible, easily accessible setting in Phenix City, Alabama. Its Craftsman-style exterior and dedicated parking create a professional arrival experience for staff and visitors.
Key Highlights
- 1542 SqFt freestanding office building
- Five private offices, two restrooms, reception area, and employee break room
- ADA‑compliant property with 6 on‑site parking spaces
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
$19,120
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
5.88%
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%
$382,400
$382.4K
Cap Rate 7%
$273,143
$273.1K
Cap Rate 9%
$212,444
$212.4K
Market Conditions
NOI Build-Up for 1,542 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
$30.9K $20.04/SF
− Vacancy
−$5.4K −$3.51/SF
EGI
$25.5K $16.53/SF
− OpEx
−$6.4K −$4.13/SF
NOI
$19.1K $12.40/SF
Area
Lee County, AL
Vacancy
17.50%
Lease Rate
$20.04 /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%
$382,400
Cap Rate 7%
$273,143
Cap Rate 9%
$212,444
Alternative Uses
Best Use
Office B
$273.1K
$239.0K – $318.7K
NOI $19,120 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$376.1K
$329.1K – $438.8K
NOI $26,326 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
994
Businesses Nearby
Explore this area
Business Placement
Demographics for 36867, AL
22,505
Population
10,782
Households
2.1
Avg Household Size
37
Median Age
28%
College-Educated
90%
High-School Grad
12.6 sq mi
ZIP Area
1,786
Density / Sq Mi
$46,847
Median Household Income
$36,035
Median Earnings
$963
Median Rent
$188,000
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.
Frequently Asked Questions
What type of property is this?
Office building - Five private offices, two restrooms, reception space, and an employee break room support day-to-day operations.
Where is this office building located?
The property is located at 608 17th St Phenix City, AL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1542 SqFt freestanding office building; Five private offices, two restrooms, reception area, and employee break room; ADA‑compliant property with 6 on‑site parking spaces
