Flex/Warehouse Property with Dock
New
For Sale
$900,000
108 Cloverdale Drive, Alabaster, AL 35007
The building is leased through October 2029, with 4% annual rent increases and M-1 zoning.
Property Size6,000 SF
Lot Size0.50 Acres
Price / SF$150
Days on Market2
Property Features for 108 Cloverdale Drive
General Information
Standard status
Active
Size
6,000 SF
Lot size
0.50 Acres
Property subtype
Industrial
Zoning
M-1
Occupancy
100%
Financials
Asking Price
$900,000
Cap Rate
7%
Warehouse & Industrial
Clear Height
19.42 ft
Warehouse Space
4,200 SF
Office Build-Out
1,800 SF
Dock-High Doors
2
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Tenant in Place
Yes
Property Use
Flex/Warehouse
Building Details
Building Size
6,000 SF
Year Built
2006
Year Renovated
2025
Buildings
1
Tenancy
Single
Listing Agency:
Ironvest Partners
Listed By:
Bart Moore · License #0001434130
(205) 936-4041
Source:
Ironvestpartners
Added: Oct 24
Changed: Oct 25
Last Checked: Oct 24 at 3:04PM
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 Ironvest Partners
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This approximately 6,000-SF flex and warehouse building has 1,800 SF of office area and 4,200 SF of warehouse space. Warehouse features include 19'5" clear height, two dock-high doors, drive-in access, and a sprinkler system. Office improvements completed in Q4 2025 included flooring, lighting, paint, HVAC service, and a water heater replacement.
The property is in Alabaster, Alabama, with access to I-65 and Highway 31. M-1 zoning applies. The building is fully leased to Next Level AVL through October 31, 2029, with 4% annual rent escalations.
The property is in Alabaster, Alabama, with access to I-65 and Highway 31. M-1 zoning applies. The building is fully leased to Next Level AVL through October 31, 2029, with 4% annual rent escalations.
Key Highlights
- Approximately 6,000 SF, including 1,800 SF of office and 4,200 SF of warehouse space
- Leased to Next Level AVL through October 31, 2029, with 4% annual rent escalations
- 19'5" clear height, two dock‑high doors, drive‑in access, and a sprinkler system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,378
Cap Rate
3.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$607,560
$607.6K
Cap Rate 7%
$433,971
$434.0K
Cap Rate 9%
$337,533
$337.5K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$39.4K $6.56/SF
− Vacancy
−$3.6K −$0.60/SF
EGI
$35.7K $5.96/SF
− OpEx
−$5.4K −$0.89/SF
NOI
$30.4K $5.06/SF
Area
Shelby County, AL
Vacancy
9.20%
Lease Rate
$6.56 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$607,560
Cap Rate 7%
$433,971
Cap Rate 9%
$337,533
Alternative Uses
Best Use
Warehouse
$434.0K
$379.7K – $506.3K
NOI $30,378 @ 7.0% cap · market cap 3.38%
Second Best
Flex RnD
$365.0K
$319.4K – $425.9K
NOI $25,553 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,582 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
19 ft
Clear height
2
Dock-high doors
100%
Occupancy
Single-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35007, AL
28,274
Population
10,634
Households
2.7
Avg Household Size
38
Median Age
38%
College-Educated
92%
High-School Grad
39.0 sq mi
ZIP Area
725
Density / Sq Mi
$86,994
Median Household Income
$47,572
Median Earnings
$1,348
Median Rent
$231,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - The building is leased through October 2029, with 4% annual rent increases and M-1 zoning.
Where is this flex space located?
The property is located at 108 Cloverdale Drive Alabaster, AL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Approximately 6,000 SF, including 1,800 SF of office and 4,200 SF of warehouse space; Leased to Next Level AVL through October 31, 2029, with 4% annual rent escalations; 19'5" clear height, two dock‑high doors, drive‑in access, and a sprinkler system
