Flexible Office
For Sale
Contact for pricing
101 Lottie Ln, Fairhope, AL 36532
Fresh paint, new flooring, and a practical layout support a move-in-ready professional setting.
Property Size1,955 SF
Price / SF$296.16
Days on Market155
Property Features for 101 Lottie Ln
General Information
Standard status
Active
Size
1,955 SF
Class
A
Property subtype
Mixed Use, Office, Special Purpose
Zoning
B-2
Amenities
two ADA bathrooms
waiting room
reception area
kitchen/ break room
Building Details
Year Built
2007
Year Renovated
2026
Stories
1
Units
1
Listing Agency:
Ashurst & Niemeyer
(251) 232-2637
Listed By:
Randall Niemeyer · License #AL 000032493
Source:
Crexi
Added: Mar 30
Changed: Aug 31
Last Checked: Jul 21 at 3:12PM
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 Ashurst & Niemeyer
Investment Insights
Based on property information with market context.
This 1,955-square-foot office property at 101 Lottie Lane provides an adaptable professional workspace in Fairhope. The layout includes larger offices that may be divided into smaller rooms, allowing the existing configuration to accommodate changing space requirements. Recent improvements include fresh paint and new flooring.
The suite includes a reception area, waiting room, kitchen and break room, along with two ADA bathrooms. These components create a complete office environment with dedicated client-facing, work, and support areas.
The suite includes a reception area, waiting room, kitchen and break room, along with two ADA bathrooms. These components create a complete office environment with dedicated client-facing, work, and support areas.
Key Highlights
- 1,955 square feet of office space
- Flexible layout with larger offices that may be divided into smaller rooms
- Fresh paint and new flooring
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
$22,803
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
3.94%
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%
$456,060
$456.1K
Cap Rate 7%
$325,757
$325.8K
Cap Rate 9%
$253,367
$253.4K
Market Conditions
NOI Build-Up for 1,955 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
$37.5K $19.20/SF
− Vacancy
−$7.1K −$3.65/SF
EGI
$30.4K $15.55/SF
− OpEx
−$7.6K −$3.89/SF
NOI
$22.8K $11.66/SF
Area
Baldwin County, AL
Vacancy
19.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$456,060
Cap Rate 7%
$325,757
Cap Rate 9%
$253,367
Alternative Uses
Best Use
Office B
$325.8K
$285.0K – $380.1K
NOI $22,803 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$470.1K
$411.4K – $548.5K
NOI $32,910 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,032
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Fresh paint, new flooring, and a practical layout support a move-in-ready professional setting.
Where is this office units located?
The property is located at 101 Lottie Ln Fairhope, AL.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 1,955 square feet of office space; Flexible layout with larger offices that may be divided into smaller rooms; Fresh paint and new flooring
