Self-Storage Facility Anchor
For Sale
Contact for pricing
100 Ecor Rouge Place Shop Center, Fairhope, AL 36532
B-3-zoned commercial suite in a 2019 retail center with prior grocery, office, and climate-storage uses.
Property Size45,432 SF
Price / SF$123.26
Days on Market118
Property Features for 100 Ecor Rouge Place Shop Center
General Information
Standard status
Active
Size
45,432 SF
Class
B
Property subtype
Retail, Office
Zoning
B-3
Investment Type
Redevelopment
Additional Details
Highway Access
Yes
Building Details
Year Built
2019
Units
1
Listing Agency:
Herrington Realty
(251) 490-6995
Listed By:
Colby Herrington, CCIM · License #AL 000100848-0
Source:
Crexi
Added: May 6
Changed: Aug 30
Last Checked: Aug 30 at 11:56AM
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 Herrington Realty
Investment Insights
Based on property information with market context.
Suite 2 is a 45,432-square-foot interior anchor condominium within Rouge Place Shopping Center. Constructed in 2019, the space has accommodated several commercial uses, including grocery, office, and most recently climate storage. The property is zoned B-3 and is offered as a self-storage facility opportunity.
The shopping center sits at 100 Ecor Rouge Place in Fairhope, just north of the intersection of Fairhope Avenue and Highway 98. Its placement within Fairhope’s main retail node provides a commercial setting for evaluating the suite’s existing configuration and potential continued use as climate storage.
The shopping center sits at 100 Ecor Rouge Place in Fairhope, just north of the intersection of Fairhope Avenue and Highway 98. Its placement within Fairhope’s main retail node provides a commercial setting for evaluating the suite’s existing configuration and potential continued use as climate storage.
Key Highlights
- 45,432‑square‑foot interior anchor condominium suite
- Most recently used for climate storage
- Prior grocery and office uses
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
$488,866
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
8.73%
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%
$9,777,320
$9.8M
Cap Rate 7%
$6,983,800
$7.0M
Cap Rate 9%
$5,431,844
$5.4M
Market Conditions
NOI Build-Up for 45,432 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
$763.3K $16.80/SF
− Vacancy
−$64.9K −$1.43/SF
EGI
$698.4K $15.37/SF
− OpEx
−$209.5K −$4.61/SF
NOI
$488.9K $10.76/SF
Area
Baldwin County, AL
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
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%
$9,777,320
Cap Rate 7%
$6,983,800
Cap Rate 9%
$5,431,844
Alternative Uses
Best Use
Retail
$6.98M
$6.11M – $8.15M
NOI $488,866 @ 7.0% cap · market cap 8.73%
Second Best
Self Storage
$5.58M
$4.88M – $6.51M
NOI $390,406 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$10.93M
$9.56M – $12.75M
NOI $764,784 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
948
Businesses Nearby
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
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?
Self storage facility - B-3-zoned commercial suite in a 2019 retail center with prior grocery, office, and climate-storage uses.
Where is this self storage facility located?
The property is located at 100 Ecor Rouge Place Shop Center Fairhope, AL.
What is the asking price?
The asking price for this property is $5,600,000.
What are key features of this property?
This property features: 45,432‑square‑foot interior anchor condominium suite; Most recently used for climate storage; Prior grocery and office uses
