Steel Flex Space with Roll-Up
For Sale
$799,000
7800 County Road 24, Fairhope, AL 36532
Commercial Sale, Fairhope, AL
Property Size8,400 SF
Lot Size0.42 Acres
Price / SF$95.12
Days on Market74
Property Features for 7800 County Road 24
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Unzoned
Lot features
Level
Directions
From County Rd 32 head south on US Hwy 98, Take Right onto County Rd 24. Property is .02 on left.
Subdivision
Baldwin
Standard status
Active
APN
56-04-17-0-000-001.019
Lot size
0.42 Acres
Taxes and HOA fees
Tax Description
95.9 X 196(S) 186.3(D) LOT 3 CROWN POINTE SUB SLIDE 1753- B SEC 17-T7S-R2E (AFF) (SURVIVORSHIP) RP787 PG1448 RP787 PG1 808
Tax Annual Amount
2042
Legal Description
95.9 X 196(S) 186.3(D) LOT 3 CROWN POINTE SUB SLIDE 1753- B SEC 17-T7S-R2E (AFF) (SURVIVORSHIP) RP787 PG1448 RP787 PG1 808
Utilities
Water front
1
Amenities
3-phase industrial power
6-inch reinforced concrete slab
five large roll-up doors
NEW roof
NEW metal siding
New insulation
dedicated office space
studio apartment
1.5 baths
Building Details
Year built
1999
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Bellator Real Estate LLC Orange Beach
(251) 979-6600
Listed By:
Le Bushnell · License #116067
(251) 928-0031
Added: Jul 1
Changed: Sep 4
Last Checked: Sep 12 at 8:06AM
MLS# 398816
Copyright © 2026 Baldwin REALTORS®. 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 steel-constructed flex property includes a 6-inch reinforced concrete slab, five large roll-up doors, 3-phase industrial power, dedicated office space, a studio apartment, and 1.5 baths. Recent improvements include a new metal roof, new metal siding, and new insulation. The building is currently used as a custom millwork shop, with a configuration that supports manufacturing, fabrication, auto or marine repair, warehouse storage, and retail or showroom operations.
The property sits on 0.415 acres along County Road 24 in Fairhope and is described as unzoned. It is directly across from the planned Point Clear Club, a 549-acre golf course community with conceptual approval from Baldwin County’s Planning and Zoning Commission. The planned development includes an 18-hole golf course, clubhouse, wellness center, restaurant, walking trails, and more than 300 single-family homes.
The property sits on 0.415 acres along County Road 24 in Fairhope and is described as unzoned. It is directly across from the planned Point Clear Club, a 549-acre golf course community with conceptual approval from Baldwin County’s Planning and Zoning Commission. The planned development includes an 18-hole golf course, clubhouse, wellness center, restaurant, walking trails, and more than 300 single-family homes.
Key Highlights
- 8,400 sq ft steel‑constructed commercial building
- 0.415 acres along County Road 24 in Fairhope
- 3‑phase industrial power and a 6" reinforced concrete slab
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
$53,019
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
6.64%
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%
$1,060,380
$1.1M
Cap Rate 7%
$757,414
$757.4K
Cap Rate 9%
$589,100
$589.1K
Market Conditions
NOI Build-Up for 8,400 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
$65.5K $7.80/SF
− Vacancy
−$3.1K −$0.37/SF
EGI
$62.4K $7.43/SF
− OpEx
−$9.4K −$1.11/SF
NOI
$53.0K $6.31/SF
Area
Baldwin County, AL
Vacancy
4.80%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
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%
$1,060,380
Cap Rate 7%
$757,414
Cap Rate 9%
$589,100
Alternative Uses
Best Use
Warehouse
$757.4K
$662.7K – $883.7K
NOI $53,019 @ 7.0% cap · market cap 6.64%
Second Best
Flex RnD
$710.8K
$622.0K – $829.3K
NOI $49,759 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,402 @ 7.0% cap · market cap 17.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36532, AL
36,918
Population
17,502
Households
2.1
Avg Household Size
48
Median Age
50%
College-Educated
94%
High-School Grad
73.2 sq mi
ZIP Area
504
Density / Sq Mi
$86,026
Median Household Income
$46,129
Median Earnings
$1,374
Median Rent
$395,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Unzoned commercial building with 3-phase power, reinforced concrete flooring, office space, and multiple service entries.
Where is this flex space located?
The property is located at 7800 County Road 24 Fairhope, AL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 8,400 sq ft steel‑constructed commercial building; 0.415 acres along County Road 24 in Fairhope; 3‑phase industrial power and a 6" reinforced concrete slab
