Office Building with Private
For Sale
$299,900
207 Blackburn Avenue, Bay Minette, AL 36507
Single-story office property with a defined reception area, multiple private offices, storage, and customer parking.
Property Size1,300 SF
Days on Market215
Property Features for 207 Blackburn Avenue
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Commercial
Building Details
Building Size
1,300 SF
Year Built
1977
Buildings
1
Stories
1
Listing Agency:
Delta Realty LLC
(251) 377-9058
Listed By:
Mark Frenette · License #84039
(251) 377-9058
Source:
Kimwardrealty
Added: Jan 16
Changed: Aug 15
Last Checked: Aug 17 at 11:26PM
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 Delta Realty LLC
Investment Insights
Based on property information with market context.
Built in 1977, this office building includes a lobby, a secretarial office with two work spaces, five offices, two bathrooms, and both interior and exterior storage. The layout separates reception, administrative functions, private work areas, and storage within a practical commercial setting.
Private rear parking serves the owner and employees, while additional parking at the front accommodates customers and clients. The property is located a couple of blocks from the Baldwin County Courthouse in Bay Minette, Alabama.
Private rear parking serves the owner and employees, while additional parking at the front accommodates customers and clients. The property is located a couple of blocks from the Baldwin County Courthouse in Bay Minette, Alabama.
Key Highlights
- Office building constructed in 1977
- Five offices, two bathrooms, lobby, and secretarial office with two work spaces
- Interior and exterior storage areas
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
$15,163
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
5.06%
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%
$303,260
$303.3K
Cap Rate 7%
$216,614
$216.6K
Cap Rate 9%
$168,478
$168.5K
Market Conditions
NOI Build-Up for 1,300 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
$25.0K $19.20/SF
− Vacancy
−$4.7K −$3.65/SF
EGI
$20.2K $15.55/SF
− OpEx
−$5.1K −$3.89/SF
NOI
$15.2K $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%
$303,260
Cap Rate 7%
$216,614
Cap Rate 9%
$168,478
Alternative Uses
Best Use
Office B
$216.6K
$189.5K – $252.7K
NOI $15,163 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$312.6K
$273.6K – $364.7K
NOI $21,884 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
Explore this area
Business Placement
Demographics for 36507, AL
19,608
Population
8,615
Households
2.3
Avg Household Size
41
Median Age
17%
College-Educated
84%
High-School Grad
343.1 sq mi
ZIP Area
57
Density / Sq Mi
$47,919
Median Household Income
$34,985
Median Earnings
$872
Median Rent
$160,800
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 - Single-story office property with a defined reception area, multiple private offices, storage, and customer parking.
Where is this office building located?
The property is located at 207 Blackburn Avenue Bay Minette, AL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Office building constructed in 1977; Five offices, two bathrooms, lobby, and secretarial office with two work spaces; Interior and exterior storage areas
