Mixed-Use Property with Commercial
For Sale
$849,900
Na-3850 Westover Rd, Sterrett, AL 35147
A commercial workspace is paired with an attached two-bedroom residence and a separate hay barn.
Property Size5,625 SF
Lot Size35.00 Acres
Price / SF$151.09
Days on Market10
Property Features for Na-3850 Westover Rd
General Information
Standard status
Active
Size
5,625 SF
Lot size
35.00 Acres
Property subtype
Land
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Office Build-Out
625 SF
Mezzanine
625 SF
Three-Phase Power
Yes
Land
Topography
level
Land Use
agricultural, commercial, residential, equestrian
Amenities
commercial shop
drive-through bays
oversized roll-up doors
mezzanine office
3-phase power
dual HVAC
residential condo
full kitchen
living area
laundry
hay barn
Listing Agency:
KM Realty
Listed By:
Katy Murphy
(205) 305-7276
Source:
Exprealty
Added: Sep 25
Changed: Oct 1
Last Checked: Oct 3 at 2:01AM
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 KM Realty
Investment Insights
Based on property information with market context.
This 35-acre mixed-use property combines a 5,625-square-foot commercial shop with an attached 1,160-square-foot residential condo. The shop has two drive-through bays, four oversized roll-up doors, a 625-square-foot mezzanine office, 3-phase power, and dual HVAC. The condo includes two bedrooms, two bathrooms, a full kitchen, living area, and laundry. A hay barn and level land are also part of the property.
Located on Westover Road in Sterrett, Alabama, the property has access to Hwy 280 and Hwy 55.
Located on Westover Road in Sterrett, Alabama, the property has access to Hwy 280 and Hwy 55.
Key Highlights
- 35 acres with level land and a hay barn
- 5,625‑square‑foot commercial shop with two drive‑through bays and four oversized roll‑up doors
- 625‑square‑foot mezzanine office, 3‑phase power, and dual HVAC
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
$64,969
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
7.64%
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%
$1,299,380
$1.3M
Cap Rate 7%
$928,129
$928.1K
Cap Rate 9%
$721,878
$721.9K
Market Conditions
NOI Build-Up for 5,625 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
$118.1K $21.00/SF
− Vacancy
−$14.2K −$2.52/SF
EGI
$104.0K $18.48/SF
− OpEx
−$39.0K −$6.93/SF
NOI
$65.0K $11.55/SF
Area
Shelby County, AL
Vacancy
12.00%
Lease Rate
$21.00 /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%
$1,299,380
Cap Rate 7%
$928,129
Cap Rate 9%
$721,878
Alternative Uses
Best Use
Mixed Use
$928.1K
$812.1K – $1.08M
NOI $64,969 @ 7.0% cap · market cap 7.64%
Second Best
Flex RnD
$342.2K
$299.5K – $399.3K
NOI $23,956 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,421 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 35147, AL
5,769
Population
2,467
Households
2.3
Avg Household Size
37
Median Age
41%
College-Educated
91%
High-School Grad
68.7 sq mi
ZIP Area
84
Density / Sq Mi
$85,587
Median Household Income
$44,473
Median Earnings
$1,626
Median Rent
$283,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A commercial workspace is paired with an attached two-bedroom residence and a separate hay barn.
Where is this mixed-use property located?
The property is located at Na-3850 Westover Rd Sterrett, AL.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 35 acres with level land and a hay barn; 5,625‑square‑foot commercial shop with two drive‑through bays and four oversized roll‑up doors; 625‑square‑foot mezzanine office, 3‑phase power, and dual HVAC
