Former Bank Building For
For Sale
$750,000
6985 Atlanta Highway, Montgomery, AL 36117
3,001 SF former bank building on 0.97 AC.
Property Size3,001 SF
Lot Size0.97 Acres
Price / SF$249.92
Days on Market161
Property Features for 6985 Atlanta Highway
General Information
Standard status
Active
Size
3,001 SF
Lot size
0.97 Acres
Property subtype
Office
Listing Agency:
(205) 262-4722
Listed By:
David Fullington
(205) 262-4722
Source:
Cbre
Added: Mar 25
Changed: Aug 17
Last Checked: Aug 31 at 2:52PM
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 David Fullington
Investment Insights
Based on property information with market context.
The property is a 3,001 square foot former bank building constructed in 2001, situated on a 0.97-acre lot. It features 30 parking spaces and a drive-through lane. The location is along the retail corridor in East Montgomery, specifically at the intersection of Atlanta Highway and Taylor Road, near I-85, Exit 9.
Key Highlights
- Ideal location along the retail corridor in East Montgomery at the Atlanta Highway and Taylor Road intersection off I‑85, Exit 9.
- 3,001 SF former bank building on 0.97 AC.
- Includes a drive‑through lane.
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
$35,695
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
4.76%
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%
$713,900
$713.9K
Cap Rate 7%
$509,929
$509.9K
Cap Rate 9%
$396,611
$396.6K
Market Conditions
NOI Build-Up for 3,001 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
$50.4K $16.80/SF
− Vacancy
−$2.8K −$0.94/SF
EGI
$47.6K $15.86/SF
− OpEx
−$11.9K −$3.96/SF
NOI
$35.7K $11.89/SF
Area
Montgomery, AL
Vacancy
5.60%
Lease Rate
$16.80 /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%
$713,900
Cap Rate 7%
$509,929
Cap Rate 9%
$396,611
Alternative Uses
Best Use
Specialty Retail
$509.9K
$446.2K – $594.9K
NOI $35,695 @ 7.0% cap · market cap 4.76%
Second Best
Retail
$475.9K
$416.4K – $555.3K
NOI $33,315 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$622.3K
$544.5K – $726.0K
NOI $43,560 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
121k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Groceries 31%
Shops & Services 18%
Electronics 2%
Publix
Groceries
37,556 visits/mo
0.2 miles
Burger King
Dining
15,482 visits/mo
0.4 miles
Chevron
Shops & Services
9,999 visits/mo
0.3 miles
KFC
Dining
8,669 visits/mo
0.3 miles
American Deli
Dining
7,405 visits/mo
0.4 miles
Demographics for 36117, AL
53,172
Population
24,181
Households
2.2
Avg Household Size
38
Median Age
46%
College-Educated
94%
High-School Grad
53.3 sq mi
ZIP Area
998
Density / Sq Mi
$72,237
Median Household Income
$44,980
Median Earnings
$1,209
Median Rent
$225,900
Median Home Value
Market
Vacancy Rate% for Retail in Montgomery, AL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - 3,001 SF former bank building on 0.97 AC.
Where is this bank located?
The property is located at 6985 Atlanta Highway Montgomery, AL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Ideal location along the retail corridor in East Montgomery at the Atlanta Highway and Taylor Road intersection off I‑85, Exit 9.; 3,001 SF former bank building on 0.97 AC.; Includes a drive‑through lane.
