Corner Office
For Sale
$1,900,000
1680 W 2nd Street A B, Gulf Shores, AL 36542
Office property with ceiling fans and electric central interior service, built in 2012.
Property Size10,000 SF
Days on Market187
Property Features for 1680 W 2nd Street A B
General Information
Standard status
Active
Size
10,000 SF
Taxes and HOA fees
Annual Taxes
$12,192
Amenities
Ceiling Fan(s)
Electric, Central
Building Details
Building Size
10,000 SF
Year Built
2012
Buildings
2
Stories
2
Listing Agency:
Kim Ward Realty, LLC
(251) 979-7101
Listed By:
Kim A Ward · License #73514
(251) 979-7101
Source:
Evrealestate
Added: Feb 8
Changed: Aug 13
Last Checked: Aug 13 at 11:03AM
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 Kim Ward Realty, LLC
Investment Insights
Based on property information with market context.
This office building was constructed in 2012 and includes ceiling fans along with electric, central interior service. The property is identified as a corner location in Gulf Shores, with an address on W 2nd Street.
Access is provided from Cove Drive via W 2nd Street, and the property is situated in Baldwin County. The listing includes addresses designated A and B, supporting a multi-suite office configuration.
Access is provided from Cove Drive via W 2nd Street, and the property is situated in Baldwin County. The listing includes addresses designated A and B, supporting a multi-suite office configuration.
Key Highlights
- Office building constructed in 2012
- Corner property at 1680 W 2nd Street A,B, Gulf Shores, AL 36542
- Ceiling fans included
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
$116,640
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
6.14%
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%
$2,332,800
$2.3M
Cap Rate 7%
$1,666,286
$1.7M
Cap Rate 9%
$1,296,000
$1.3M
Market Conditions
NOI Build-Up for 10,000 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
$192.0K $19.20/SF
− Vacancy
−$36.5K −$3.65/SF
EGI
$155.5K $15.55/SF
− OpEx
−$38.9K −$3.89/SF
NOI
$116.6K $11.66/SF
Area
Baldwin County, AL
Vacancy
19.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$2,332,800
Cap Rate 7%
$1,666,286
Cap Rate 9%
$1,296,000
Alternative Uses
Best Use
Office B
$1.67M
$1.46M – $1.94M
NOI $116,640 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.81M
NOI $168,336 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
919
Businesses Nearby
Explore this area
Business Placement
Demographics for 36542, AL
16,993
Population
18,551
Households
0.9
Avg Household Size
51
Median Age
38%
College-Educated
95%
High-School Grad
52.0 sq mi
ZIP Area
327
Density / Sq Mi
$74,861
Median Household Income
$35,580
Median Earnings
$1,365
Median Rent
$366,600
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?
Office building - Office property with ceiling fans and electric central interior service, built in 2012.
Where is this office building located?
The property is located at 1680 W 2nd Street A B Gulf Shores, AL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Office building constructed in 2012; Corner property at 1680 W 2nd Street A,B, Gulf Shores, AL 36542; Ceiling fans included
