Freestanding Office
For Sale
$325,000
608 17th Street, Phenix City, AL 36867
Commercial Sale, Phenix City, AL
Property Size1,542 SF
Lot Size0.39 Acres
Price / SF$210.77
Days on Market139
Property Features for 608 17th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
CMLBR
Fencing
Fenced
Lot features
Curbs, Sidewalks, Free Standing
Directions
From 13th St In Downtown Phenix City, Turn North On Broad St. Office Building Will Be On The Right Just Past The Alabama Power Company Office At The Corner Of Broad St And 17th St.
Subdivision
Russell
Standard status
Active
Size
1,542 SF
Lot size
0.39 Acres
Utilities
Utilities
Water Available
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Electric, Ceiling Fan(s), Central Air
Amenities
covered front porch
energy-efficient insulated windows
private offices
reception area
employee break room
ADA compliant
Building Details
Year built
2026
Number of units
1
Building materials
Frame, Stone
Listing Agency:
Keller Williams Realty River Cities
(706) 221-6900
Listed By:
Steve Kash · License #86717
(706) 615-4470
Added: May 4
Changed: Sep 13
Last Checked: Sep 19 at 1:06PM
MLS# 224417
Copyright © 2026 Columbus Board of Realtors (GA). 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 1,542-square-foot freestanding office building is under construction for 2026 completion and occupies a 0.3876-acre parcel at 608 17th Street. The planned interior includes five private offices, a reception area, two restrooms, and an employee break room. Frame construction with stone accents, hard plank siding, a covered front porch, and insulated windows define the exterior. Central air, electric heating, a heat pump, and ceiling fans are specified for building comfort.
The property sits at the corner of Broad Street and 17th Street in Phenix City, providing a prominent street position. Six on-site parking spaces are planned, and the building is ADA compliant. The parcel is fenced, water is available, and zoning is CMLBR.
The property sits at the corner of Broad Street and 17th Street in Phenix City, providing a prominent street position. Six on-site parking spaces are planned, and the building is ADA compliant. The parcel is fenced, water is available, and zoning is CMLBR.
Key Highlights
- 1,542‑square‑foot freestanding office building on a 0.3876‑acre parcel
- Five private offices, reception area, two restrooms, and employee break room
- Corner location at Broad Street and 17th Street in Phenix City
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
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Open Analytics
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Corner-positioned office property with private workrooms, visitor reception, employee amenities, and accessible on-site parking.
Where is this office building located?
The property is located at 608 17th Street 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: 1,542‑square‑foot freestanding office building on a 0.3876‑acre parcel; Five private offices, reception area, two restrooms, and employee break room; Corner location at Broad Street and 17th Street in Phenix City
