Updated Bungalow
For Sale
$209,900
902 Wheelan St, Greensboro, AL 36744
CommercialSale, Greensboro, AL
Property Size1,968 SF
Lot Size0.50 Acres
Price / SF$106.66
Days on Market192
Property Features for 902 Wheelan St
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Tuscaloosa Street going South. Turn left on Main Street. Go down to Whelan. Go right. House is on the right.
Subdivision
(16) Hale County
Standard status
Active
APN
1604174401079.0000
Size
1,968 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Description
Beg inst N/Le South St W/Le Wheelan St W/st 70' 'D'95' 'S' E 70' 'D' To St S W /st 120' 'D' 95' 'S' To Pob S17 T20 R5e
Tax Annual Amount
488
Legal Description
Beg inst N/Le South St W/Le Wheelan St W/st 70' 'D'95' 'S' E 70' 'D' To St S W /st 120' 'D' 95' 'S' To Pob S17 T20 R5e
Building Details
Number of units
1
Flooring type
Hardwood, Wood
Building materials
WoodSiding
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
The Forney Group, LLC
Listed By:
Pride Forney
(205) 223-9770
Added: Apr 22
Changed: Oct 27
Last Checked: Oct 30 at 12:06AM
MLS# 174791
Copyright © 2026 West Alabama Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Located at 902 Wheelan St in Greensboro, Alabama, this 1,968-square-foot restaurant property occupies a 1920s bungalow that has been adapted for commercial use. The building includes a restaurant area, commercial kitchen, prep stations, a commercial sink and wash area, and a large walk-in cooler. Most equipment remains with the property, as detailed in the listing materials.
Recent improvements include a new roof, updated wiring, fresh interior and exterior paint, an accessible entry ramp, and additional entry points. The property also includes a 0.5-acre side lot with additional road frontage. Wood siding, wood and hardwood flooring, and a composition shingle roof are among the existing building features.
Recent improvements include a new roof, updated wiring, fresh interior and exterior paint, an accessible entry ramp, and additional entry points. The property also includes a 0.5-acre side lot with additional road frontage. Wood siding, wood and hardwood flooring, and a composition shingle roof are among the existing building features.
Key Highlights
- 1,968‑square‑foot restaurant property in Greensboro, AL
- 1920s bungalow adapted for commercial restaurant use
- Commercial kitchen with prep stations and sink/wash area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,472
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$189,440
$189.4K
Cap Rate 7%
$135,314
$135.3K
Cap Rate 9%
$105,244
$105.2K
Market Conditions
NOI Build-Up for 1,968 SF
Gross rent
$14.2K $7.20/SF
− Vacancy
−$638 −$0.32/SF
EGI
$13.5K $6.88/SF
− OpEx
−$4.1K −$2.06/SF
NOI
$9.5K $4.81/SF
Area
Hale County, AL
Vacancy
4.50%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$189,440
Cap Rate 7%
$135,314
Cap Rate 9%
$105,244
Alternative Uses
Best Use
Specialty Retail
$353.7K
$309.5K – $412.7K
NOI $24,761 @ 7.0% cap · market cap 11.80%
Second Best
Industrial
$135.3K
$118.4K – $157.9K
NOI $9,472 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$472.9K
$413.8K – $551.8K
NOI $33,105 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
254
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 36744, AL
6,444
Population
3,256
Households
2
Avg Household Size
42
Median Age
15%
College-Educated
79%
High-School Grad
223.8 sq mi
ZIP Area
29
Density / Sq Mi
$33,983
Median Household Income
$25,559
Median Earnings
$716
Median Rent
$151,200
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A 1920s wood-sided property configured for restaurant operations with commercial kitchen infrastructure and accessible entry improvements.
Where is this conventional restaurant located?
The property is located at 902 Wheelan St Greensboro, AL.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: 1,968‑square‑foot restaurant property in Greensboro, AL; 1920s bungalow adapted for commercial restaurant use; Commercial kitchen with prep stations and sink/wash area
