Commercial Building with Open
For Sale
$500,000
Pending
8799 US Hwy 31, Hanceville, AL 35077
Commercial building featuring office and open space with fenced perimeters.
Property Size8,000 SF
Days on Market209
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Property Features for 8799 US Hwy 31
General Information
Standard status
Pending
Size
8,000 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$2,058
Building Details
Year Built
1987
Listing Agency:
Southern.256 Real Estate LLC
Listed By:
Ryan Barnett · License #111604
(256) 962-3030
Source:
Exitrealty
Added: Mar 21
Changed: Sep 10
Last Checked: Sep 15 at 5:58AM
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 Southern.256 Real Estate LLC
Investment Insights
Based on property information with market context.
This commercial building offers both office space and open space suitable for various needs. The property features fenced sides and a fenced back, along with a covered area at the back that spans the building's full width. The property presents many possibilities.
Key Highlights
- Commercial building featuring office space.
- Open space offers versatility for various business needs.
- Fenced sides and back provide added security.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,056
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$861,120
$861.1K
Cap Rate 7%
$615,086
$615.1K
Cap Rate 9%
$478,400
$478.4K
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$72.0K $9.00/SF
− Vacancy
−$5.8K −$0.72/SF
EGI
$66.2K $8.28/SF
− OpEx
−$23.2K −$2.90/SF
NOI
$43.1K $5.38/SF
Area
Cullman County, AL
Vacancy
8.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$861,120
Cap Rate 7%
$615,086
Cap Rate 9%
$478,400
Alternative Uses
Best Use
Flex RnD
$615.1K
$538.2K – $717.6K
NOI $43,056 @ 7.0% cap · market cap 8.61%
Second Best
Industrial
$444.0K
$388.5K – $518.0K
NOI $31,080 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,560 @ 7.0% cap · market cap 16.51%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35077, AL
13,813
Population
6,045
Households
2.3
Avg Household Size
42
Median Age
14%
College-Educated
79%
High-School Grad
150.2 sq mi
ZIP Area
92
Density / Sq Mi
$47,720
Median Household Income
$29,221
Median Earnings
$822
Median Rent
$157,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Commercial building featuring office and open space with fenced perimeters.
Where is this flex space located?
The property is located at 8799 US Hwy 31 Hanceville, AL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Commercial building featuring office space.; Open space offers versatility for various business needs.; Fenced sides and back provide added security.
