Flex Space with Office and
For Sale
$1,950,000
12519 S Memorial Parkway, Huntsville, AL 35803
COMMERCIAL - Huntsville, AL
Property Size10,672 SF
Lot Size0.87 Acres
Price / SF$182.72
Days on Market47
Property Features for 12519 S Memorial Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bathroom 2, Bathroom 3
Parking features
Parking Lot
Directions
South On Memorial Parkway Past Hobbs Road Next To Lbj Auto Repair.
Standard status
Active
APN
2304180001012.000
Size
10,672 SF
Lot size
0.87 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1943
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 24
Changed: Aug 4
Last Checked: Aug 9 at 8:06AM
MLS# 21891440
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 flex space offering includes a single commercial building with 10,672 SF total, featuring 5,000 SF of office space and 5,672 SF of warehouse space. The warehouse includes an 8 ft. overhead door, 12 ft. ceilings, and concrete flooring. The building has central heating and central air, with four restrooms.
The property sits on 0.87 acres and provides parking lot parking. It is served by public water and public sewer, with a metal roof. The original building was built in 1943.
There is an additional two-story storage building at the rear of the property that remains at no value and is not connected to the power supply.
The property sits on 0.87 acres and provides parking lot parking. It is served by public water and public sewer, with a metal roof. The original building was built in 1943.
There is an additional two-story storage building at the rear of the property that remains at no value and is not connected to the power supply.
Key Highlights
- 10,672 SF flex building with 5,000 SF office and 5,672 SF warehouse space
- 8 ft. overhead door and 12 ft. ceilings in the warehouse
- Central heating and central air with concrete flooring
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
$136,340
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
6.99%
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%
$2,726,800
$2.7M
Cap Rate 7%
$1,947,714
$1.9M
Cap Rate 9%
$1,514,889
$1.5M
Market Conditions
NOI Build-Up for 10,672 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
$213.9K $20.04/SF
− Vacancy
−$32.1K −$3.01/SF
EGI
$181.8K $17.03/SF
− OpEx
−$45.4K −$4.26/SF
NOI
$136.3K $12.78/SF
Area
Huntsville, AL
Vacancy
15.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$2,726,800
Cap Rate 7%
$1,947,714
Cap Rate 9%
$1,514,889
Alternative Uses
Best Use
Office B
$1.95M
$1.70M – $2.27M
NOI $136,340 @ 7.0% cap · market cap 6.99%
Second Best
Flex RnD
$1.64M
$1.44M – $1.91M
NOI $114,873 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$2.78M
$2.43M – $3.24M
NOI $194,529 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
113
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 - Single commercial flex building combining office space and warehouse space with central HVAC and public utilities.
Where is this flex space located?
The property is located at 12519 S Memorial Parkway Huntsville, AL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 10,672 SF flex building with 5,000 SF office and 5,672 SF warehouse space; 8 ft. overhead door and 12 ft. ceilings in the warehouse; Central heating and central air with concrete flooring
