Flex Space with Roll-Up
For Sale
$550,000
Pending
171 Northshore Cir, Gulf Shores, AL 36542
Combines finished office, warehouse, and mezzanine areas within one flexible commercial building.
Property Size2,800 SF
Days on Market34
Property Features for 171 Northshore Cir
General Information
Standard status
Pending
Size
2,800 SF
Property subtype
Commercial
Warehouse & Industrial
Office Build-Out
775 SF
Mezzanine
775 SF
Building Details
Year Built
2006
Buildings
1
Building Size
2,800 SF
Listing Agency:
Signature Properties
(251) 363-9397
Listed By:
Clint Miller · License #169806-1
Source:
Dodsonrealestate
Added: Jul 26
Changed: Aug 28
Last Checked: Aug 28 at 10:21AM
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 Signature Properties
Investment Insights
Based on property information with market context.
This 2,800-square-foot flex property combines approximately 775 square feet of finished office space with a warehouse area and an approximately 775-square-foot mezzanine. Three 12-foot by 12-foot roll-up doors provide loading and equipment access, while the mezzanine adds space for storage, inventory, or workspace. Built in 2006, the building supports office and operational functions within a single commercial facility.
The property is located at 171 Northshore Cir in Gulf Shores, Alabama, near major commercial corridors. The source information identifies potential application for contractors, service companies, light distribution operations, and local businesses, while zoning, permitted uses, dimensions, and other material details remain subject to buyer due diligence.
The property is located at 171 Northshore Cir in Gulf Shores, Alabama, near major commercial corridors. The source information identifies potential application for contractors, service companies, light distribution operations, and local businesses, while zoning, permitted uses, dimensions, and other material details remain subject to buyer due diligence.
Key Highlights
- 2,800 SF flex property in Gulf Shores
- Approximately 775 SF of finished office space
- Approximately 775 SF mezzanine for storage, inventory, or workspace
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
$32,659
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
5.94%
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%
$653,180
$653.2K
Cap Rate 7%
$466,557
$466.6K
Cap Rate 9%
$362,878
$362.9K
Market Conditions
NOI Build-Up for 2,800 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
$53.8K $19.20/SF
− Vacancy
−$10.2K −$3.65/SF
EGI
$43.5K $15.55/SF
− OpEx
−$10.9K −$3.89/SF
NOI
$32.7K $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%
$653,180
Cap Rate 7%
$466,557
Cap Rate 9%
$362,878
Alternative Uses
Best Use
Office B
$466.6K
$408.2K – $544.3K
NOI $32,659 @ 7.0% cap · market cap 5.94%
Second Best
Warehouse
$252.5K
$220.9K – $294.6K
NOI $17,673 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$673.3K
$589.2K – $785.6K
NOI $47,134 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Balanced
Demand for This Use
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?
Flex space - Combines finished office, warehouse, and mezzanine areas within one flexible commercial building.
Where is this flex space located?
The property is located at 171 Northshore Cir Gulf Shores, AL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,800 SF flex property in Gulf Shores; Approximately 775 SF of finished office space; Approximately 775 SF mezzanine for storage, inventory, or workspace
