Agricultural Warehouse with
For Sale
$650,000
19101 East Greenwood Road, Summerdale, AL 36580
Nearly 20-acre cleared, level farmland includes a 5,000-square-foot warehouse with four coil doors and an on-site apartment.
Property Size5,000 SF
Lot Size20.00 Acres
Price / SF$130
Days on Market567
Property Features for 19101 East Greenwood Road
General Information
Standard status
Active
Size
5,000 SF
Lot size
20.00 Acres
Property subtype
Land / Land
Additional Details
Drive-In Doors
4
Listing Agency:
Wellhouse Real Estate West, LLC
Listed By:
Abbie Woddail · License #164937-1
(251) 769-1320
Source:
Compass
Added: Feb 15, 2025
Changed: Aug 14
Last Checked: Aug 14 at 7:42AM
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 Wellhouse Real Estate West, LLC
Investment Insights
Based on property information with market context.
The property includes cleared, level farmland and established blueberry production, along with a large chicken coop. A 5,000-square-foot warehouse features a large open work area with two 1/2 bathrooms and four coil doors, with two on each side for convenient access. The upper level provides expansive storage, with the space described as offering potential for customization.
An attached 1,000-square-foot apartment includes windows throughout, a spacious dine-in kitchen, a full bathroom, a generously sized bedroom, and a living area. Buyer diligence is required to verify information regarding land use, utilities, and zoning.
The seller notes the buyer should verify all details during due diligence. The property is offered for sale and was described as formerly a Satsuma farm, presenting multiple potential uses based on the existing improvements and agricultural components.
An attached 1,000-square-foot apartment includes windows throughout, a spacious dine-in kitchen, a full bathroom, a generously sized bedroom, and a living area. Buyer diligence is required to verify information regarding land use, utilities, and zoning.
The seller notes the buyer should verify all details during due diligence. The property is offered for sale and was described as formerly a Satsuma farm, presenting multiple potential uses based on the existing improvements and agricultural components.
Key Highlights
- Nearly 20‑acre cleared, level farmland in Baldwin County, Alabama
- 5,000‑SF warehouse with four coil doors (two on each side) plus an on‑site apartment
- Warehouse features a large open work area and two 1/2 bathrooms
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
$31,559
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
4.86%
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%
$631,180
$631.2K
Cap Rate 7%
$450,843
$450.8K
Cap Rate 9%
$350,656
$350.7K
Market Conditions
NOI Build-Up for 5,000 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
$39.0K $7.80/SF
− Vacancy
−$1.9K −$0.37/SF
EGI
$37.1K $7.43/SF
− OpEx
−$5.6K −$1.11/SF
NOI
$31.6K $6.31/SF
Area
Baldwin County, AL
Vacancy
4.80%
Lease Rate
$7.80 /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%
$631,180
Cap Rate 7%
$450,843
Cap Rate 9%
$350,656
Alternative Uses
Best Use
Warehouse
$450.8K
$394.5K – $526.0K
NOI $31,559 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,168 @ 7.0% cap · market cap 12.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 36580, AL
6,663
Population
2,932
Households
2.3
Avg Household Size
41
Median Age
20%
College-Educated
79%
High-School Grad
52.6 sq mi
ZIP Area
127
Density / Sq Mi
$59,138
Median Household Income
$32,456
Median Earnings
$1,043
Median Rent
$238,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Agricultural land / Farmland - Nearly 20-acre cleared, level farmland includes a 5,000-square-foot warehouse with four coil doors and an on-site apartment.
Where is this agricultural land / farmland located?
The property is located at 19101 East Greenwood Road Summerdale, AL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Nearly 20‑acre cleared, level farmland in Baldwin County, Alabama; 5,000‑SF warehouse with four coil doors (two on each side) plus an on‑site apartment; Warehouse features a large open work area and two 1/2 bathrooms
