C-6 Zoned Office
New
For Sale
$1,690,000
824 Mcfarland Blvd, Northport, AL 35476
Existing commercial building near McFarland Boulevard, the University of Alabama, and Northport’s downtown district.
Property Size4,757 SF
Price / SF$355.27
Days on Market2
Property Features for 824 Mcfarland Blvd
General Information
Standard status
Active
Size
4,757 SF
Class
C
Property subtype
VacantLand
Zoning
C-6
Additional Details
Land Use
office
Building Details
Building Size
4,757 SF
Year Built
1968
Buildings
1
Listing Agency:
Harwood Real Estate
Listed By:
Richard Harwood · License #118535018
(205) 764-1637
Source:
Commercialcafe
Added: Sep 1
Last Checked: Sep 1 at 9:03PM
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 Harwood Real Estate
Investment Insights
Based on property information with market context.
This office property includes a 4,757-square-foot building constructed in 1968. The site carries C-6 zoning, providing the documented land-use designation for the existing commercial asset. Its established structure may suit office-oriented ownership or future planning consistent with applicable zoning requirements.
The property is located at 824 McFarland Blvd in Northport, with access to McFarland Boulevard and its surrounding commercial corridor. The University of Alabama, Kentuck Art Center, historic downtown district, and Riverwalk are identified nearby, bringing educational, cultural, civic, and recreational destinations into the surrounding area.
The property is located at 824 McFarland Blvd in Northport, with access to McFarland Boulevard and its surrounding commercial corridor. The University of Alabama, Kentuck Art Center, historic downtown district, and Riverwalk are identified nearby, bringing educational, cultural, civic, and recreational destinations into the surrounding area.
Key Highlights
- 4,757‑square‑foot office building
- Constructed in 1968
- C‑6 zoning
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
$55,100
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
3.26%
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%
$1,102,000
$1.1M
Cap Rate 7%
$787,143
$787.1K
Cap Rate 9%
$612,222
$612.2K
Market Conditions
NOI Build-Up for 4,757 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
$94.2K $19.80/SF
− Vacancy
−$20.7K −$4.36/SF
EGI
$73.5K $15.44/SF
− OpEx
−$18.4K −$3.86/SF
NOI
$55.1K $11.58/SF
Area
Tuscaloosa County, AL
Vacancy
22.00%
Lease Rate
$19.80 /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%
$1,102,000
Cap Rate 7%
$787,143
Cap Rate 9%
$612,222
Alternative Uses
Best Use
Office B
$787.1K
$688.8K – $918.3K
NOI $55,100 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,020 @ 7.0% cap · market cap 4.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
Explore this area
Business Placement
Demographics for 35476, AL
8,697
Population
3,597
Households
2.4
Avg Household Size
36
Median Age
23%
College-Educated
86%
High-School Grad
6.9 sq mi
ZIP Area
1,260
Density / Sq Mi
$59,545
Median Household Income
$37,304
Median Earnings
$940
Median Rent
$196,800
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 - Existing commercial building near McFarland Boulevard, the University of Alabama, and Northport’s downtown district.
Where is this office building located?
The property is located at 824 Mcfarland Blvd Northport, AL.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: 4,757‑square‑foot office building; Constructed in 1968; C‑6 zoning
