Building Details

Year built 1997

Floors in Building 1

Flooring type Concrete

Roof type Metal

Listing Agency: Susie Weems Real Estate, LLC Show Phone

Listed By: Betty Greer · License #64642 Show Phone

Added: Jul 16 Changed: Aug 19 Last Checked: Sep 27 at 9:06AM

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MLS# 21889455

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Investment Insights

Based on property information with market context.

This 4,000-square-foot flex property, built in 1997, combines professional office capability with light industrial utility. The building has concrete flooring, a metal roof, central air, natural gas heating, and an alarm system serving each suite. Its layout can accommodate office, medical, or dental operations.

The property occupies 1 acre at 113 Rainbow Industrial Blvd in Rainbow City Industrial Park. Public water and public sewer serve the site, with Alabama Power and Spire Gas available. A large parking area extends across both the front and rear of the building, while proximity to I-59 and other major highways supports regional access.

Key Highlights

• 4,000 square feet on 1 acre in Rainbow City Industrial Park
• Built in 1997 with a metal roof and concrete flooring
• Alarm system installed for each suite

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

$42,530

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

8.95%

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%

$850,600 $850.6K

Cap Rate 7%

$607,571 $607.6K

Cap Rate 9%

$472,556 $472.6K

Market Conditions

NOI Build-Up for 4,000 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

$79.2K $19.80/SF

− Vacancy

−$8.3K −$2.08/SF

EGI

$70.9K $17.72/SF

− OpEx

−$28.4K −$7.09/SF

NOI

$42.5K $10.63/SF

Area

Etowah County, AL

Vacancy

10.50%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

40.00%

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%

$850,600

Cap Rate 7%

$607,571

Cap Rate 9%

$472,556

Alternative Uses

Best Use

Healthcare Medical

$607.6K

$531.6K – $708.8K (±1% cap)

NOI $42,530 @ 7.0% cap · market cap 8.95%

Second Best

Flex RnD

$470.5K

$411.7K – $549.0K (±1% cap)

NOI $32,938 @ 7.0% cap · market cap 6.93%

Theoretical Best

Specialty Retail

$654.0K

$572.3K – $763.0K (±1% cap)

NOI $45,781 @ 7.0% cap · market cap 9.64%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Electrical Service HVAC Service Real Estate Agency Cafe & Coffee Shop Florist Storage Facility

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

Lease Details

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

155

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 35906, AL

10,444

Population

4,743

Households

2.2

Avg Household Size

42

Median Age

22%

College-Educated

85%

High-School Grad

35.0 sq mi

ZIP Area

298

Density / Sq Mi

$58,896

Median Household Income

$41,701

Median Earnings

$998

Median Rent

$199,500

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Light industrial space supports office, medical, or dental use with central air and natural gas heating.

Where is this flex space located?

The property is located at 113 Rainbow Industrial Blvd Rainbow City, AL.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: 4,000 square feet on 1 acre in Rainbow City Industrial Park; Built in 1997 with a metal roof and concrete flooring; Alarm system installed for each suite