Mixed-Use Office
For Sale
$389,900
834 Chestnut Street, Gadsden, AL 35901
COMMERCIAL - Gadsden, AL
Property Size3,959 SF
Lot Size0.34 Acres
Price / SF$98.48
Days on Market37
Property Features for 834 Chestnut Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Business
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Directions
Broad Street, L On S 4th Street, R On Chestnut, Office Is On Left
Standard status
Active
APN
1502043000136000
Size
3,959 SF
Lot size
0.34 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1910
Floors in Building
3
Flooring type
Wood
Listing Agency:
Impact Realty, LLC
(256) 459-4001
Listed By:
Katie McKenzie · License #105125
(256) 613-6516
Added: Jul 14
Changed: Aug 5
Last Checked: Aug 19 at 1:06AM
MLS# 21922228
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Investment Insights
Based on property information with market context.
Built in 1910, this 3,959-square-foot mixed-use property combines professional workspace with a residential component. The main floor contains five offices and a conference room, while the upper level includes a one-bedroom apartment with its own kitchen, living area, and full bathroom. Wood flooring adds to the building’s existing character.
Set on 0.34 acres at 834 Chestnut Street in downtown Gadsden, the property includes cobblestone parking and is surrounded by historic homes. Public water and public sewer serve the site. The configuration accommodates an office operation alongside rental income or residential use by an owner.
Set on 0.34 acres at 834 Chestnut Street in downtown Gadsden, the property includes cobblestone parking and is surrounded by historic homes. Public water and public sewer serve the site. The configuration accommodates an office operation alongside rental income or residential use by an owner.
Key Highlights
- 3,959‑square‑foot mixed‑use property on 0.34 acres
- Main level includes five offices and a conference room
- Upstairs one‑bedroom apartment with kitchen, living area, and full bath
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
$31,266
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
8.02%
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%
$625,320
$625.3K
Cap Rate 7%
$446,657
$446.7K
Cap Rate 9%
$347,400
$347.4K
Market Conditions
NOI Build-Up for 3,959 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
$55.6K $14.04/SF
− Vacancy
−$5.6K −$1.40/SF
EGI
$50.0K $12.64/SF
− OpEx
−$18.8K −$4.74/SF
NOI
$31.3K $7.90/SF
Area
Etowah County, AL
Vacancy
10.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
37.50%
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%
$625,320
Cap Rate 7%
$446,657
Cap Rate 9%
$347,400
Alternative Uses
Best Use
Mixed Use
$446.7K
$390.8K – $521.1K
NOI $31,266 @ 7.0% cap · market cap 8.02%
Second Best
Office B
$365.3K
$319.6K – $426.2K
NOI $25,569 @ 7.0% cap · market cap 6.56%
Theoretical Best
Specialty Retail
$647.3K
$566.4K – $755.2K
NOI $45,312 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,446
Businesses Nearby
Explore this area
Business Placement
Demographics for 35901, AL
18,671
Population
9,075
Households
2.1
Avg Household Size
43
Median Age
22%
College-Educated
85%
High-School Grad
59.2 sq mi
ZIP Area
315
Density / Sq Mi
$47,826
Median Household Income
$30,212
Median Earnings
$747
Median Rent
$174,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five office spaces share the main level, while an upstairs apartment supports rental income or owner occupancy.
Where is this mixed-use property located?
The property is located at 834 Chestnut Street Gadsden, AL.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 3,959‑square‑foot mixed‑use property on 0.34 acres; Main level includes five offices and a conference room; Upstairs one‑bedroom apartment with kitchen, living area, and full bath
