Two-Building Manufacturing
For Sale
$2,750,000
1314 State Docks Road Northwest, Decatur, AL 35601
M2-zoned industrial site combines conditioned production space with finished offices and multiple loading options.
Property Size39,060 SF
Lot Size2.08 Acres
Price / SF$70.40
Days on Market159
Property Features for 1314 State Docks Road Northwest
General Information
Standard status
Active
Size
39,060 SF
Lot size
2.08 Acres
Property subtype
Industrial
Zoning
M2
Warehouse & Industrial
Clear Height
22 ft
Office Build-Out
9,216 SF
Mezzanine
425 SF
Dock-High Doors
3
Drive-In Doors
3
Conditioned Warehouse
Yes
Additional Details
Highway Access
Yes
Building Details
Building Size
39,060 SF
Year Renovated
2022
Buildings
2
Listing Agency:
Lightle Beckner Robison, Inc
(321) 863-3228
Listed By:
Brian L. Lightle, CCIM, SIOR, CRE · License #FL #BK510409
(321) 863-3228
Source:
Teamlbr
Added: Mar 25
Changed: Aug 29
Last Checked: Aug 3 at 6:12AM
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 Lightle Beckner Robison, Inc
Investment Insights
Based on property information with market context.
This M2-zoned manufacturing property includes two buildings totaling 39,060 square feet on 2.08 acres. The South Building contains 18,100 square feet, including 6,700 square feet of office area and a 2,100-square-foot clean room with separate climate control. The North Building provides 20,960 square feet, with a 10,000-square-foot manufacturing addition completed in 2022 and a 425-square-foot storage mezzanine. The entire facility is conditioned, and reinforced concrete slabs range from eight inches to four feet thick. Ceiling heights run from 19 to 25 feet, with clear heights of 16 to 22 feet. Three drive-in doors and three dock-high doors support material handling. Additional improvements include concrete pads, a storage shed, asphalt parking, and two tornado shelters. Construction and expansions date from 1997 through 2022. The property is located at 1314 State Docks Road Northwest in Decatur, with nearby Highway 72 access, an immediate Highway 20 route, and reach to Interstate 65.
Key Highlights
- 39,060‑square‑foot manufacturing facility across two buildings on 2.08 acres
- M2 zoning with 9,216 square feet of finished office space
- 10,000‑square‑foot North Building manufacturing addition completed in 2022
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
$199,405
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
7.25%
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%
$3,988,100
$4.0M
Cap Rate 7%
$2,848,643
$2.8M
Cap Rate 9%
$2,215,611
$2.2M
Market Conditions
NOI Build-Up for 39,060 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
$304.7K $7.80/SF
− Vacancy
−$19.8K −$0.51/SF
EGI
$284.9K $7.29/SF
− OpEx
−$85.5K −$2.19/SF
NOI
$199.4K $5.11/SF
Area
Morgan County, AL
Vacancy
6.50%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
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%
$3,988,100
Cap Rate 7%
$2,848,643
Cap Rate 9%
$2,215,611
Alternative Uses
Best Use
Office B
$5.68M
$4.97M – $6.63M
NOI $397,592 @ 7.0% cap · market cap 14.46%
Second Best
Industrial
$2.85M
$2.49M – $3.32M
NOI $199,405 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$8.13M
$7.11M – $9.48M
NOI $568,839 @ 7.0% cap · market cap 20.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
3
Dock-high doors
3
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
117
Businesses Nearby
Explore this area
Business Placement
Demographics for 35601, AL
34,958
Population
15,168
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
77%
High-School Grad
26.5 sq mi
ZIP Area
1,319
Density / Sq Mi
$50,216
Median Household Income
$33,438
Median Earnings
$860
Median Rent
$148,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - M2-zoned industrial site combines conditioned production space with finished offices and multiple loading options.
Where is this manufacturing property located?
The property is located at 1314 State Docks Road Northwest Decatur, AL.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 39,060‑square‑foot manufacturing facility across two buildings on 2.08 acres; M2 zoning with 9,216 square feet of finished office space; 10,000‑square‑foot North Building manufacturing addition completed in 2022
