Warehouse with Fenced
For Sale
Contact for pricing
9466 Lundy Ln W, Theodore, AL 36582
20,000± SF warehouse with 22' eave heights, four oversized ground-level doors, and a 5.5± acre fenced yard.
Property Size20,000 SF
Lot Size5.50 Acres
Price / SF$177.50
Days on Market1261
Property Features for 9466 Lundy Ln W
General Information
Standard status
Active
Size
20,000 SF
Lot size
5.50 Acres
Property subtype
INDUSTRIAL
Lease Type
NNN
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
22 ft
Drive-In Doors
4
Listing Agency:
CRE Mobile
(251) 438-4312
Listed By:
Pete Riehm · License #000090093
(251) 442-4349
Source:
Moodyscre
Added: Apr 4, 2023
Changed: Sep 15
Last Checked: Sep 15 at 11:32AM
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 CRE Mobile
Investment Insights
Based on property information with market context.
The property is a 20,000± SF warehouse featuring 22’ eave heights and four oversized ground-level loading doors. The site also includes a 5.5± acre fenced yard surfaced with aggregate, providing an enclosed outdoor staging and storage area.
The offering is presented as a For Sale transaction.
The combination of multiple ground-level doors and an extensive fenced yard supports a range of warehouse and distribution uses requiring both indoor functionality and secured outdoor space.
The offering is presented as a For Sale transaction.
The combination of multiple ground-level doors and an extensive fenced yard supports a range of warehouse and distribution uses requiring both indoor functionality and secured outdoor space.
Key Highlights
- 20,000± SF warehouse building with 22’ eave heights
- 4 oversized ground‑level doors
- 5.5± acres fenced yard with aggregate
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
$114,077
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
3.21%
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%
$2,281,540
$2.3M
Cap Rate 7%
$1,629,671
$1.6M
Cap Rate 9%
$1,267,522
$1.3M
Market Conditions
NOI Build-Up for 20,000 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
$144.0K $7.20/SF
− Vacancy
−$9.8K −$0.49/SF
EGI
$134.2K $6.71/SF
− OpEx
−$20.1K −$1.01/SF
NOI
$114.1K $5.70/SF
Area
Mobile, AL
Vacancy
6.80%
Lease Rate
$7.20 /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%
$2,281,540
Cap Rate 7%
$1,629,671
Cap Rate 9%
$1,267,522
Alternative Uses
Best Use
Warehouse
$1.63M
$1.43M – $1.90M
NOI $114,077 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.08M
$4.45M – $5.93M
NOI $355,834 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22 ft
Clear height
4
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36582, AL
25,903
Population
10,409
Households
2.5
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
79.7 sq mi
ZIP Area
325
Density / Sq Mi
$61,498
Median Household Income
$37,043
Median Earnings
$916
Median Rent
$170,400
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.
Similar Off Market Nearby
- Bellingrath Road Mini Storage — 9421 Bellingrath Rd, Theodore, AL 36582
Frequently Asked Questions
What type of property is this?
Warehouse - 20,000± SF warehouse with 22' eave heights, four oversized ground-level doors, and a 5.5± acre fenced yard.
Where is this warehouse located?
The property is located at 9466 Lundy Ln W Theodore, AL.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: 20,000± SF warehouse building with 22’ eave heights; 4 oversized ground‑level doors; 5.5± acres fenced yard with aggregate
