Two-Building Flex
New
For Sale
$2,200,000
10554 County Road 64, Daphne, AL 36526
Commercial Sale, Daphne, AL
Property Size18,000 SF
Lot Size2.46 Acres
Price / SF$122.22
Days on Market2
Property Features for 10554 County Road 64
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From I-10 Take exit 38 to merge onto AL-181 S/State Hwy 181 S,Turn left onto Daphne Rd/County Rd 64, Building will be on the right
Subdivision
Baldwin
Standard status
Active
APN
43-06-23-0-000-005.007
Lot size
2.46 Acres
Taxes and HOA fees
Tax Description
171.9 X 618(S) Irr Lot 4 Austin Road Commercial Park Slide 1559-B Lying In The Nw1 4 Of Ne1 4 Less Rd R W - In# 2112199 Sec 23-T5s-R2e
Legal Description
171.9 X 618(S) Irr Lot 4 Austin Road Commercial Park Slide 1559-B Lying In The Nw1 4 Of Ne1 4 Less Rd R W - In# 2112199 Sec 23-T5s-R2e
Utilities
Utilities
Water Available
Listing Agency:
Shamrock Properties, LLC
(251) 533-9445
Listed By:
David Kahalley · License #77246
(125) 153-3944
Added: Sep 17
Changed: Sep 18
Last Checked: Sep 18 at 9:06PM
MLS# 410900
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 in Daphne, Alabama, includes two buildings totaling 18,000 square feet. The County Road 64 building provides approximately 2,000 square feet of office area alongside a 10,000-square-foot warehouse, with paved parking at the front. A separate 6,000-square-foot metal building includes a small heated and cooled office, recessed dock well loading, and a fully fenced paved yard with room for 18-wheelers and multiple parking areas.
The rear building can be reached from County Road 64 or Austin Road through a separate deeded paved ingress and egress road. The property is near I-10 and approximately one mile from Highway 181. It is currently occupied through the first week of December 2026, with the lease transferring to the buyer. Showings require advance arrangement, and access should not occur without permission.
The rear building can be reached from County Road 64 or Austin Road through a separate deeded paved ingress and egress road. The property is near I-10 and approximately one mile from Highway 181. It is currently occupied through the first week of December 2026, with the lease transferring to the buyer. Showings require advance arrangement, and access should not occur without permission.
Key Highlights
- 18,000 square feet across two main buildings
- Front building includes approximately 2,000 square feet of office and a 10,000‑square‑foot warehouse
- Rear building is a 6,000‑square‑foot metal structure with heated and cooled office space
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
$113,612
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
5.16%
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%
$2,272,240
$2.3M
Cap Rate 7%
$1,623,029
$1.6M
Cap Rate 9%
$1,262,356
$1.3M
Market Conditions
NOI Build-Up for 18,000 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
$140.4K $7.80/SF
− Vacancy
−$6.7K −$0.37/SF
EGI
$133.7K $7.43/SF
− OpEx
−$20.0K −$1.11/SF
NOI
$113.6K $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%
$2,272,240
Cap Rate 7%
$1,623,029
Cap Rate 9%
$1,262,356
Alternative Uses
Best Use
Warehouse
$1.62M
$1.42M – $1.89M
NOI $113,612 @ 7.0% cap · market cap 5.16%
Second Best
Flex RnD
$1.52M
$1.33M – $1.78M
NOI $106,627 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$4.33M
$3.79M – $5.05M
NOI $303,005 @ 7.0% cap · market cap 13.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 36526, AL
35,720
Population
14,074
Households
2.5
Avg Household Size
40
Median Age
43%
College-Educated
94%
High-School Grad
37.7 sq mi
ZIP Area
947
Density / Sq Mi
$90,733
Median Household Income
$50,049
Median Earnings
$1,353
Median Rent
$311,000
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
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Frequently Asked Questions
What type of property is this?
Flex space - Two buildings combine office, warehouse, paved access, and fully fenced yard space.
Where is this flex space located?
The property is located at 10554 County Road 64 Daphne, AL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 18,000 square feet across two main buildings; Front building includes approximately 2,000 square feet of office and a 10,000‑square‑foot warehouse; Rear building is a 6,000‑square‑foot metal structure with heated and cooled office space
