Fenced Flex Space with Four
For Sale
$879,000
11590 Memorial Parkway S, Huntsville, AL 35803
COMMERCIAL - Huntsville, AL
Property Size6,776 SF
Lot Size0.43 Acres
Price / SF$129.72
Days on Market52
Property Features for 11590 Memorial Parkway S
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Parking Lot
Lot features
High Visibility
Directions
South On Mem. Pkwy. Just Before Redstone Road Between Public Storage And Slim Chickens.
Standard status
Active
APN
2303072003074.000
Size
6,776 SF
Lot size
0.43 Acres
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Russ Russell Real Estate
(256) 536-7777
Listed By:
Russ Russell · License #25965
(256) 527-7777
Added: Jun 22
Changed: Aug 4
Last Checked: Aug 12 at 2:06AM
MLS# 21915761
Copyright © 2026 ValleyMLS.Com,Inc. 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 6,776-square-foot flex property combines customer-oriented office space with warehouse functionality. The building includes a lobby, administrative office, bathroom, approximately 2,776 square feet of office area, and approximately 4,000 square feet of warehouse space for storage or work activities. Four rear bays support additional operational flexibility. The property has concrete flooring, a metal roof, heat pump heating, and central air conditioning.
Situated on a 0.43-acre parcel, the site is enclosed by chain-link fencing and includes a parking lot. Public water and public sewer serve the property. The building is configured for commercial occupancy and offers a blend of enclosed work, storage, and administrative areas within one facility.
Situated on a 0.43-acre parcel, the site is enclosed by chain-link fencing and includes a parking lot. Public water and public sewer serve the property. The building is configured for commercial occupancy and offers a blend of enclosed work, storage, and administrative areas within one facility.
Key Highlights
- 6,776 SF flex property on a 0.43‑acre parcel
- Approximately 2,776 SF of office space and 4,000 SF of warehouse space
- Four rear bays for storage or operational use
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
$72,937
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
8.30%
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%
$1,458,740
$1.5M
Cap Rate 7%
$1,041,957
$1.0M
Cap Rate 9%
$810,411
$810.4K
Market Conditions
NOI Build-Up for 6,776 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
$122.0K $18.00/SF
− Vacancy
−$9.8K −$1.44/SF
EGI
$112.2K $16.56/SF
− OpEx
−$39.3K −$5.80/SF
NOI
$72.9K $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%
$1,458,740
Cap Rate 7%
$1,041,957
Cap Rate 9%
$810,411
Alternative Uses
Best Use
Office B
$1.24M
$1.08M – $1.44M
NOI $86,567 @ 7.0% cap · market cap 9.85%
Second Best
Retail
$1.18M
$1.04M – $1.38M
NOI $82,816 @ 7.0% cap · market cap 9.42%
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,513 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35803, AL
29,001
Population
13,272
Households
2.2
Avg Household Size
43
Median Age
54%
College-Educated
96%
High-School Grad
49.2 sq mi
ZIP Area
589
Density / Sq Mi
$95,182
Median Household Income
$53,416
Median Earnings
$1,221
Median Rent
$259,100
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.
Frequently Asked Questions
What type of property is this?
Flex space - Commercial property combines customer-facing office areas with secured warehouse space and on-site parking.
Where is this flex space located?
The property is located at 11590 Memorial Parkway S Huntsville, AL.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: 6,776 SF flex property on a 0.43‑acre parcel; Approximately 2,776 SF of office space and 4,000 SF of warehouse space; Four rear bays for storage or operational use
