Flex Space with Warehouse
For Sale
Contact for pricing
111 Spacegate Dr NW, Huntsville, AL 35806
Fully HVAC-equipped building combines open industrial area with dedicated office rooms.
Property Size6,000 SF
Lot Size2.12 Acres
Price / SF$208.33
Days on Market199
Property Features for 111 Spacegate Dr NW
General Information
Standard status
Active
Size
6,000 SF
Lot size
2.12 Acres
Property subtype
Industrial
Occupancy
100%
Lease Type
Modified Gross
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Asking Price
$1,250,000
Conditioned Warehouse
Yes
Building Details
Year Built
2003
Buildings
1
Stories
1
Tenancy
Single
Building Size
6,000 SF
Listing Agency:
Jones Commercial Construction Inc.
Listed By:
Kim Jones · License #AL
Source:
Crexi
Added: Feb 13
Changed: Aug 30
Last Checked: Aug 30 at 10:28AM
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 Jones Commercial Construction Inc.
Investment Insights
Based on property information with market context.
This 6,000-square-foot flex property, constructed in 2003, includes two offices, four restrooms, and an expansive warehouse area. The building is fully HVAC-equipped and has LED lighting, two oversized roll-up garage doors, and an enclosed outdoor storage area secured by chain-link fencing and a cantilever gate. On-site parking is also provided.
The property occupies 2.12 acres at 111 Spacegate Dr NW in Huntsville, Alabama, less than 1 mile from Research Parkway. The site offers room for an additional building or an expansion of the existing structure. A multiyear lease is in place with a nationwide tenant, providing an existing occupancy arrangement for the property.
The property occupies 2.12 acres at 111 Spacegate Dr NW in Huntsville, Alabama, less than 1 mile from Research Parkway. The site offers room for an additional building or an expansion of the existing structure. A multiyear lease is in place with a nationwide tenant, providing an existing occupancy arrangement for the property.
Key Highlights
- 6,000‑square‑foot flex building on 2.12 acres
- Multiyear lease in place with a nationwide tenant
- Two offices, four restrooms, and open warehouse area
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
$64,584
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
5.17%
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%
$1,291,680
$1.3M
Cap Rate 7%
$922,629
$922.6K
Cap Rate 9%
$717,600
$717.6K
Market Conditions
NOI Build-Up for 6,000 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
$108.0K $18.00/SF
− Vacancy
−$8.6K −$1.44/SF
EGI
$99.4K $16.56/SF
− OpEx
−$34.8K −$5.80/SF
NOI
$64.6K $10.76/SF
Area
Huntsville, AL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,291,680
Cap Rate 7%
$922,629
Cap Rate 9%
$717,600
Alternative Uses
Best Use
Flex RnD
$922.6K
$807.3K – $1.08M
NOI $64,584 @ 7.0% cap · market cap 5.17%
Second Best
Warehouse
$616.8K
$539.7K – $719.6K
NOI $43,174 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,368 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35806, AL
25,702
Population
14,398
Households
1.8
Avg Household Size
36
Median Age
60%
College-Educated
97%
High-School Grad
25.4 sq mi
ZIP Area
1,012
Density / Sq Mi
$79,338
Median Household Income
$50,458
Median Earnings
$1,287
Median Rent
$318,800
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?
Flex space - Fully HVAC-equipped building combines open industrial area with dedicated office rooms.
Where is this flex space located?
The property is located at 111 Spacegate Dr NW Huntsville, AL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 6,000‑square‑foot flex building on 2.12 acres; Multiyear lease in place with a nationwide tenant; Two offices, four restrooms, and open warehouse area
