Freestanding Flex Office
For Sale
Contact for pricing
1945 Patton Chapel Rd, Hoover, AL 35226
Freestanding flex-office building with commercial office and warehouse space plus about one acre of developable land.
Property Size4,443 SF
Price / SF$269.86
Days on Market588
Property Features for 1945 Patton Chapel Rd
General Information
Standard status
Active
Size
4,443 SF
Property subtype
OFFICE
Building Details
Buildings
1
Building Size
4,443 SF
Listing Agency:
Ironvest Partners
(205) 598-8382
Listed By:
Kyle Crew · License #000126655
(229) 938-7276
Source:
Moodyscre
Added: Feb 4, 2025
Changed: Sep 6
Last Checked: Sep 15 at 9:21AM
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 Ironvest Partners
Investment Insights
Based on property information with market context.
This freestanding flex-office building offers a combined commercial office and warehouse space totaling 4,443 SF. The property is set up to serve mixed work and storage needs under one roof.
The offering also includes approximately one acre of additional developable commercial land that can be subdivided, providing flexibility for future site expansion or development.
The building and land are being offered together for sale in Hoover, Alabama.
The offering also includes approximately one acre of additional developable commercial land that can be subdivided, providing flexibility for future site expansion or development.
The building and land are being offered together for sale in Hoover, Alabama.
Key Highlights
- Freestanding flex‑office building for sale in Hoover, Alabama
- Includes 4,443 SF of commercial office and warehouse space
- Additional ±1‑acre of developable commercial land that can be subdivided
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
$49,648
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
4.14%
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%
$992,960
$993.0K
Cap Rate 7%
$709,257
$709.3K
Cap Rate 9%
$551,644
$551.6K
Market Conditions
NOI Build-Up for 4,443 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
$60.8K $13.68/SF
− Vacancy
−$2.4K −$0.53/SF
EGI
$58.4K $13.15/SF
− OpEx
−$8.8K −$1.97/SF
NOI
$49.6K $11.17/SF
Area
Jefferson County, AL
Vacancy
3.90%
Lease Rate
$13.68 /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%
$992,960
Cap Rate 7%
$709,257
Cap Rate 9%
$551,644
Alternative Uses
Best Use
Warehouse
$709.3K
$620.6K – $827.5K
NOI $49,648 @ 7.0% cap · market cap 4.14%
Second Best
Industrial
$584.1K
$511.1K – $681.5K
NOI $40,887 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,994 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
787
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35226, AL
38,471
Population
14,904
Households
2.6
Avg Household Size
39
Median Age
69%
College-Educated
97%
High-School Grad
17.7 sq mi
ZIP Area
2,174
Density / Sq Mi
$126,053
Median Household Income
$65,454
Median Earnings
$1,467
Median Rent
$387,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Freestanding flex-office building with commercial office and warehouse space plus about one acre of developable land.
Where is this flex space located?
The property is located at 1945 Patton Chapel Rd Hoover, AL.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Freestanding flex‑office building for sale in Hoover, Alabama; Includes 4,443 SF of commercial office and warehouse space; Additional ±1‑acre of developable commercial land that can be subdivided
