Three-Unit Strip
New
For Sale
$1,299,900
713 Woodward Ave, Muscle Shoals, AL 35661
Fully leased retail property with established business occupants and on-site customer parking.
Property Size12,460 SF
Price / SF$104.33
Days on Market3
Property Features for 713 Woodward Ave
General Information
Standard status
Active
Size
12,460 SF
Property subtype
Commercial/Industrial
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$9,506
Building Details
Year Built
1964
Tenancy
Multi
Listing Agency:
EXIT Realty Shoals
Listed By:
Kellie G Bowling · License #105919
(256) 740-1985
Source:
Exitrealty
Added: Sep 2
Last Checked: Sep 2 at 2:09PM
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 EXIT Realty Shoals
Investment Insights
Based on property information with market context.
This strip mall contains 12,460 square feet across three separate retail units. Built in 1964, the property is fully leased to established businesses, including a family-owned operation with more than 60 years of history. The configuration provides multiple occupied suites within one commercial asset.
Located at 713 Woodward Ave in Muscle Shoals, the property benefits from road frontage extending across the block and convenient access for tenants and customers. On-site parking supports the existing retail uses and daily customer activity.
The property combines a three-unit layout, full occupancy, established tenancy, and a prominent roadside position in a single retail center.
Located at 713 Woodward Ave in Muscle Shoals, the property benefits from road frontage extending across the block and convenient access for tenants and customers. On-site parking supports the existing retail uses and daily customer activity.
The property combines a three-unit layout, full occupancy, established tenancy, and a prominent roadside position in a single retail center.
Key Highlights
- 12,460‑square‑foot strip mall with three separate retail units
- 100% leased to three established businesses
- One tenant is a family‑owned business with more than 60 years of operating history
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
$77,750
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
5.98%
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%
$1,555,000
$1.6M
Cap Rate 7%
$1,110,714
$1.1M
Cap Rate 9%
$863,889
$863.9K
Market Conditions
NOI Build-Up for 12,460 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
$124.1K $9.96/SF
− Vacancy
−$13.0K −$1.05/SF
EGI
$111.1K $8.91/SF
− OpEx
−$33.3K −$2.67/SF
NOI
$77.7K $6.24/SF
Area
Colbert County, AL
Vacancy
10.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
30.00%
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%
$1,555,000
Cap Rate 7%
$1,110,714
Cap Rate 9%
$863,889
Alternative Uses
Best Use
Retail
$1.11M
$971.9K – $1.30M
NOI $77,750 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,281 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
72k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Dining 40%
Home Improvements & Furnishings 1%
Dollar Tree
Shops & Services
16,454 visits/mo
0.5 miles
Wendy's
Dining
15,431 visits/mo
0.4 miles
Shell
Shops & Services
10,526 visits/mo
0.3 miles
Dollar General
Shops & Services
8,107 visits/mo
0.2 miles
Little Caesars Pizza
Dining
5,039 visits/mo
0.5 miles
Demographics for 35661, AL
18,714
Population
8,911
Households
2.1
Avg Household Size
42
Median Age
24%
College-Educated
91%
High-School Grad
51.2 sq mi
ZIP Area
366
Density / Sq Mi
$66,726
Median Household Income
$43,826
Median Earnings
$917
Median Rent
$189,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Fully leased retail property with established business occupants and on-site customer parking.
Where is this strip mall located?
The property is located at 713 Woodward Ave Muscle Shoals, AL.
What is the asking price?
The asking price for this property is $1,299,900.
What are key features of this property?
This property features: 12,460‑square‑foot strip mall with three separate retail units; 100% leased to three established businesses; One tenant is a family‑owned business with more than 60 years of operating history
