Flex Space With Clear-Span
For Sale
Contact for pricing
111 Castle Drive, Madison, AL 35758
Multi-building campus offers office, shop, storage, and yard areas for varied industrial operations.
Property Size23,366 SF
Price / SF$68.48
Days on Market12
Property Features for 111 Castle Drive
General Information
Standard status
Active
Size
23,366 SF
Class
B
Property subtype
Industrial, Office
Zoning
Unzoned — Madison County
Investment Type
Owner/User
Building Details
Year Built
1986
Buildings
3
Tenancy
Single
Listing Agency:
ParaSell Inc
(949) 942-6585
Listed By:
Scott Reid · License #10991231395
Source:
Crexi
Added: Jul 31
Changed: Aug 10
Last Checked: Aug 10 at 2:01AM
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 ParaSell Inc
Investment Insights
Based on property information with market context.
This industrial campus includes three separate buildings across approximately 23,366 square feet, with about 1,750 SF of finished office area. The improvements provide open clear-span shop space, gas heat, compressed-air drops, mezzanine storage, covered storage, and four oversized overhead doors. Center heights reach approximately 25 feet, supporting a range of industrial configurations.
The property occupies approximately 3.58 acres in unincorporated Madison County and is unzoned. Substantial yard and circulation areas complement the buildings, while access to U.S. Highway 72, Slaughter Road, and I-565 connects the site with the surrounding industrial corridor. The campus is positioned for owner-user operations or industrial investment involving manufacturing, fabrication, warehousing, distribution, contracting, or related services.
The property occupies approximately 3.58 acres in unincorporated Madison County and is unzoned. Substantial yard and circulation areas complement the buildings, while access to U.S. Highway 72, Slaughter Road, and I-565 connects the site with the surrounding industrial corridor. The campus is positioned for owner-user operations or industrial investment involving manufacturing, fabrication, warehousing, distribution, contracting, or related services.
Key Highlights
- ±23,366‑square‑foot campus on ±3.58 acres
- Three independent industrial buildings
- ±1,750 SF of finished 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
$119,224
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
7.45%
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%
$2,384,480
$2.4M
Cap Rate 7%
$1,703,200
$1.7M
Cap Rate 9%
$1,324,711
$1.3M
Market Conditions
NOI Build-Up for 23,366 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
$145.8K $6.24/SF
− Vacancy
−$5.5K −$0.24/SF
EGI
$140.3K $6.00/SF
− OpEx
−$21.0K −$0.90/SF
NOI
$119.2K $5.10/SF
Area
Madison County, AL
Vacancy
3.80%
Lease Rate
$6.24 /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%
$2,384,480
Cap Rate 7%
$1,703,200
Cap Rate 9%
$1,324,711
Alternative Uses
Best Use
Office B
$4.26M
$3.73M – $4.98M
NOI $298,512 @ 7.0% cap · market cap 18.66%
Second Best
Flex RnD
$3.59M
$3.14M – $4.19M
NOI $251,512 @ 7.0% cap · market cap 15.72%
Theoretical Best
Office A
$6.08M
$5.32M – $7.10M
NOI $425,915 @ 7.0% cap · market cap 26.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35758, AL
48,192
Population
20,322
Households
2.4
Avg Household Size
38
Median Age
64%
College-Educated
98%
High-School Grad
27.2 sq mi
ZIP Area
1,772
Density / Sq Mi
$115,780
Median Household Income
$61,321
Median Earnings
$1,375
Median Rent
$336,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Summer Fun Party Rentals — 1815 Slaughter Rd, Madison, AL 35758
Frequently Asked Questions
What type of property is this?
Flex space - Multi-building campus offers office, shop, storage, and yard areas for varied industrial operations.
Where is this flex space located?
The property is located at 111 Castle Drive Madison, AL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: ±23,366‑square‑foot campus on ±3.58 acres; Three independent industrial buildings; ±1,750 SF of finished office space
