Building Details

Buildings 1

Building Size 4,443 SF

Listing Agency: Ironvest Partners Show Phone

Listed By: Kyle Crew · License #000126655 Show Phone

Source: Moodyscre

Added: Feb 4, 2025 Changed: Oct 25 Last Checked: Oct 30 at 2:49PM

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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

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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.

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 / Yr

$49,648

Cap Rate

4.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$992,960 $993.0K

Cap Rate 7%

$709,257 $709.3K

Cap Rate 9%

$551,644 $551.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,443 SF

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 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 (±1% cap)

NOI $49,648 @ 7.0% cap · market cap 4.14%

Second Best

Industrial

$584.1K

$511.1K – $681.5K (±1% cap)

NOI $40,887 @ 7.0% cap · market cap 3.41%

Theoretical Best

Office A

$1.53M

$1.34M – $1.78M (±1% cap)

NOI $106,994 @ 7.0% cap · market cap 8.92%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Carpet & Flooring Store (Bike/Boat/Book/etc) Store Butcher Florist Fish Market Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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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