Flex Space with High-Bay
For Sale
$1,995,000
185 Grimes Drive, Guntersville, AL 35976
COMMERCIAL - Guntersville, AL
Property Size15,000 SF
Lot Size2.34 Acres
Price / SF$133
Days on Market272
Property Features for 185 Grimes Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3
Directions
From Hwy 431 Guntersville, Turn At Tech School Onto Fosset Road, Left On Grimes, Property On Left. Look For North Alabama Pipe (Brick Sign)
Standard status
Active
APN
1507250000008.005
Size
15,000 SF
Lot size
2.34 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
4 front offices
3 baths
4 high bay doors
loading dock
plumbed for compressed air
multiple 220V/360V/480V single & 3 phase drop
entire bldg heated & cooled
Building Details
Year built
1981
Floors in Building
1
Flooring type
Concrete
Roof type
Membrane
Listing Agency:
Re/Max Guntersville
(256) 582-5585
Listed By:
Leamon Yarbrough · License #76781
(256) 558-0040
Added: Nov 14, 2025
Changed: Aug 13
Last Checked: Aug 13 at 5:06AM
MLS# 21903866
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex facility provides approximately 15,000 square feet under roof on approximately 2.34 acres in Guntersville Industrial Park. The building includes four front offices, three bathrooms, four high-bay doors, and a loading dock. A membrane roof, concrete flooring, natural gas heating, central air, and a sprinkler system support the existing configuration.
Industrial utility infrastructure includes compressed-air plumbing and multiple 220V, 360V, and 480V single- and three-phase drops. Public water and public sewer serve the property. Constructed in 1981, the facility combines office space with a substantial open industrial component suitable for a range of flex-space operations.
Industrial utility infrastructure includes compressed-air plumbing and multiple 220V, 360V, and 480V single- and three-phase drops. Public water and public sewer serve the property. Constructed in 1981, the facility combines office space with a substantial open industrial component suitable for a range of flex-space operations.
Key Highlights
- Approximately 15,000 square feet under roof on approximately 2.34 acres
- Four high‑bay doors plus a loading dock
- Four front offices and three bathrooms
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
$169,088
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
8.48%
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%
$3,381,760
$3.4M
Cap Rate 7%
$2,415,543
$2.4M
Cap Rate 9%
$1,878,756
$1.9M
Market Conditions
NOI Build-Up for 15,000 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
$270.0K $18.00/SF
− Vacancy
−$44.6K −$2.97/SF
EGI
$225.5K $15.03/SF
− OpEx
−$56.4K −$3.76/SF
NOI
$169.1K $11.27/SF
Area
Marshall County, AL
Vacancy
16.50%
Lease Rate
$18.00 /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%
$3,381,760
Cap Rate 7%
$2,415,543
Cap Rate 9%
$1,878,756
Alternative Uses
Best Use
Office B
$2.42M
$2.11M – $2.82M
NOI $169,088 @ 7.0% cap · market cap 8.48%
Second Best
Flex RnD
$1.23M
$1.08M – $1.44M
NOI $86,112 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$3.24M
$2.83M – $3.78M
NOI $226,627 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35976, AL
16,787
Population
7,472
Households
2.2
Avg Household Size
47
Median Age
31%
College-Educated
88%
High-School Grad
127.6 sq mi
ZIP Area
132
Density / Sq Mi
$72,579
Median Household Income
$39,354
Median Earnings
$792
Median Rent
$254,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Heated and cooled flex facility with office accommodations, loading infrastructure, and industrial utility features.
Where is this flex space located?
The property is located at 185 Grimes Drive Guntersville, AL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Approximately 15,000 square feet under roof on approximately 2.34 acres; Four high‑bay doors plus a loading dock; Four front offices and three bathrooms
