Listing Agency: JH Berry

Listed By: Christopher Thames · License #AL 000071659

Source: Crexi

Added: Sep 25, 2024 Changed: Oct 7 Last Checked: Oct 20 at 5:47PM

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Investment Insights

Based on property information with market context.

This property, located in Hanceville, Alabama, offers 22,360 square feet of space suitable for retail and industrial purposes. The property is located at 306 Main St SE, Hanceville, AL 35077.

Key Highlights

• Retail property
• 22,360 sqft

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$86,869

Cap Rate

6.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,737,380 $1.7M

Cap Rate 7%

$1,240,986 $1.2M

Cap Rate 9%

$965,211 $965.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 22,360 SF

Gross rent

$134.2K $6.00/SF

− Vacancy

−$10.1K −$0.45/SF

EGI

$124.1K $5.55/SF

− OpEx

−$37.2K −$1.67/SF

NOI

$86.9K $3.89/SF

Area

Cullman County, AL

Vacancy

7.50%

Lease Rate

$6.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,737,380

Cap Rate 7%

$1,240,986

Cap Rate 9%

$965,211

Alternative Uses

Best Use

Retail

$2.29M

$2.01M – $2.68M (±1% cap)

NOI $160,590 @ 7.0% cap · market cap 12.12%

Second Best

Industrial

$1.24M

$1.09M – $1.45M (±1% cap)

NOI $86,869 @ 7.0% cap · market cap 6.56%

Theoretical Best

Office A

$3.30M

$2.88M – $3.85M (±1% cap)

NOI $230,755 @ 7.0% cap · market cap 17.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

King's Home Thrift Discount Store

Suggested Use

Top Pick Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Plumbing Service Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

296

Businesses Nearby

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

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Retail property - 22,360 SqFt retail and industrial space for sale.

Where is this retail property located?

The property is located at 306 Main St SE Hanceville, AL.

What is the asking price?

The asking price for this property is $1,325,000.

What are key features of this property?

This property features: Retail property; 22,360 sqft