Flex Space with
For Sale
$775,000
9112 Hard Dr, Foley, AL 36535
Commercial Sale, Foley, AL
Property Size7,000 SF
Lot Size0.51 Acres
Price / SF$110.71
Days on Market58
Property Features for 9112 Hard Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Unzoned
Lot features
Less Than 1 Acre
Directions
Co Rd 12 West Hard Drive on the North Side of 12
Subdivision
Baldwin
Standard status
Active
APN
249773
Lot size
0.51 Acres
Taxes and HOA fees
Tax Description
100' X 221.8' LOT 35 BELOW POWERLINE COMMERCIAL PARK SUB SLI DE 2080-BSEC 7-T8S-R4E (WD)
Legal Description
100' X 221.8' LOT 35 BELOW POWERLINE COMMERCIAL PARK SUB SLI DE 2080-BSEC 7-T8S-R4E (WD)
Amenities
full kitchen
private bath
new AC system (2024)
Listing Agency:
Crye Leike Gulf Coast Real Est
(251) 405-2608
Listed By:
Lydia A Franz · License #71136
(251) 978-6160
Added: Jul 24
Changed: Sep 2
Last Checked: Sep 19 at 10:06PM
MLS# 406460
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 flex property provides approximately 7,000 SF across two levels, including 6,000 SF on the ground floor and a 1,000 SF upper suite. The configuration includes a front office and showroom, a private office, mezzanine workspace, and a 4,620 SF rear warehouse. Warehouse features include two oversized roll-up doors, 16' clear eave height, high-bay LED lighting, and 3-phase power with five 220V outlets. A new AC system was installed in 2024.
The upper suite contains a full kitchen and private bath with shower, providing additional office, break, employee accommodation, or live/work functionality. The property also includes a brick exterior, substantial concrete parking area, and an unzoned designation with no covenants or restrictions. Located at 9112 Hard Dr in Foley, Alabama, the layout supports retail, production, storage, and distribution uses.
The upper suite contains a full kitchen and private bath with shower, providing additional office, break, employee accommodation, or live/work functionality. The property also includes a brick exterior, substantial concrete parking area, and an unzoned designation with no covenants or restrictions. Located at 9112 Hard Dr in Foley, Alabama, the layout supports retail, production, storage, and distribution uses.
Key Highlights
- Approximately 7,000 SF on 0.5073 acres
- 4,620 SF rear warehouse with two oversized roll‑up doors
- 16' clear eave height, high‑bay LED lighting, and 3‑phase power
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
$44,182
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
5.70%
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%
$883,640
$883.6K
Cap Rate 7%
$631,171
$631.2K
Cap Rate 9%
$490,911
$490.9K
Market Conditions
NOI Build-Up for 7,000 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
$54.6K $7.80/SF
− Vacancy
−$2.6K −$0.37/SF
EGI
$52.0K $7.43/SF
− OpEx
−$7.8K −$1.11/SF
NOI
$44.2K $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%
$883,640
Cap Rate 7%
$631,171
Cap Rate 9%
$490,911
Alternative Uses
Best Use
Office B
$1.17M
$1.02M – $1.36M
NOI $81,648 @ 7.0% cap · market cap 10.54%
Second Best
Warehouse
$631.2K
$552.3K – $736.4K
NOI $44,182 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,835 @ 7.0% cap · market cap 15.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
16 ft
Clear height
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36535, AL
35,484
Population
18,755
Households
1.9
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
92.5 sq mi
ZIP Area
384
Density / Sq Mi
$67,013
Median Household Income
$41,574
Median Earnings
$1,168
Median Rent
$250,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial layout combines offices, showroom space, and warehouse functionality.
Where is this flex space located?
The property is located at 9112 Hard Dr Foley, AL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Approximately 7,000 SF on 0.5073 acres; 4,620 SF rear warehouse with two oversized roll‑up doors; 16' clear eave height, high‑bay LED lighting, and 3‑phase power
