Modern Flex Space with Drive-Through
For Sale
$400,000
7008 Alabama Highway 40, Henagar, AL 35978
Business Opportunity, Henagar, AL
Property Size3,500 SF
Lot Size2.00 Acres
Price / SF$114.29
Days on Market162
Property Features for 7008 Alabama Highway 40
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Driveway
Subdivision
Metes And Bounds
Lot features
High Visibility
Directions
From I59 Valley Head Exit, Follow Hwy 40 5 Minutes Property On Right, Signs In Place.
Standard status
Active
APN
0904180000033.000
Size
3,500 SF
Lot size
2.00 Acres
Utilities
Sewer type
Septic Tank
Water source
Public
Amenities
remote roll up drive thru doors
additional storage
Building Details
Year built
2025
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Re/Max Property Center
(256) 997-9400
Listed By:
Annette Wright · License #73341
(256) 458-3739
Added: Mar 27
Changed: Aug 28
Last Checked: Sep 4 at 2:06AM
MLS# 21896746
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex-space property includes a 3500-square-foot commercial building on approximately 2 acres. The under-construction facility features new office space, remote roll-up drive-through doors, concrete flooring, a metal roof, and new wiring and plumbing. Office space is decked above the main area for additional storage, while a driveway provides on-site parking.
The property fronts Alabama Highway 40 in Henagar, with 350 frontal feet along the roadway. Public water and a septic tank serve the building. Construction is identified for 2025, creating a recently developed commercial facility with office, storage, and drive-through functionality.
The property fronts Alabama Highway 40 in Henagar, with 350 frontal feet along the roadway. Public water and a septic tank serve the building. Construction is identified for 2025, creating a recently developed commercial facility with office, storage, and drive-through functionality.
Key Highlights
- 3500‑square‑foot flex‑space building on approximately 2 acres
- 350 frontal feet on Alabama Highway 40
- Remote roll‑up drive‑through doors
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
$29,322
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
7.33%
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%
$586,440
$586.4K
Cap Rate 7%
$418,886
$418.9K
Cap Rate 9%
$325,800
$325.8K
Market Conditions
NOI Build-Up for 3,500 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
$49.1K $14.04/SF
− Vacancy
−$4.0K −$1.15/SF
EGI
$45.1K $12.89/SF
− OpEx
−$15.8K −$4.51/SF
NOI
$29.3K $8.38/SF
Area
DeKalb County, AL
Vacancy
8.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
35.00%
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%
$586,440
Cap Rate 7%
$418,886
Cap Rate 9%
$325,800
Alternative Uses
Best Use
Flex RnD
$418.9K
$366.5K – $488.7K
NOI $29,322 @ 7.0% cap · market cap 7.33%
Second Best
Warehouse
$191.8K
$167.8K – $223.7K
NOI $13,423 @ 7.0% cap · market cap 3.36%
Theoretical Best
Healthcare Medical
$563.9K
$493.4K – $657.8K
NOI $39,470 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35978, AL
5,436
Population
2,305
Households
2.4
Avg Household Size
43
Median Age
9%
College-Educated
83%
High-School Grad
69.4 sq mi
ZIP Area
78
Density / Sq Mi
$52,545
Median Household Income
$35,914
Median Earnings
$747
Median Rent
$123,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Under-construction flex space with office, elevated storage, driveway parking, and highway frontage.
Where is this flex space located?
The property is located at 7008 Alabama Highway 40 Henagar, AL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 3500‑square‑foot flex‑space building on approximately 2 acres; 350 frontal feet on Alabama Highway 40; Remote roll‑up drive‑through doors
