Flex Space With Warehouse
New
For Sale
$989,000
22442 Doc McDuffie Rd, Foley, AL 36535
COMMERCIAL - Foley, AL
Property Size10,000 SF
Price / SF$98.90
Days on Market3
Property Features for 22442 Doc McDuffie Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Pets allowed
Yes
Directions
Travel north on AL-161, turn right on to Doc McDuffie Road, property will be on the left hand side.
Subdivision
Baldwin
Standard status
Active
APN
54-07-35-0-000-005.008
Taxes and HOA fees
Tax Description
135.2 X 475(S) Irr Lot 3 Resub Of Lots 1 & 2 Barin Estates Slide 1592-B Less & Except Desc As: Beg At The Nw Cor Of Lo T 3 Run Th E 135.3, Th S .77, Th W 135.7, Th Ne .91 To P Ob Lying In The Se1 4 Of Sw1 4 Sec 35-T7s-R4e (Wd)
Legal Description
135.2 X 475(S) Irr Lot 3 Resub Of Lots 1 & 2 Barin Estates Slide 1592-B Less & Except Desc As: Beg At The Nw Cor Of Lo T 3 Run Th E 135.3, Th S .77, Th W 135.7, Th Ne .91 To P Ob Lying In The Se1 4 Of Sw1 4 Sec 35-T7s-R4e (Wd)
Utilities
Water front features
Waterfront
Amenities
kitchenette
Listing Agency:
RE/MAX on the Coast
(251) 980-2000
Listed By:
Dusty Cole · License #103880-1
(251) 213-8504
Added: Aug 7
Last Checked: Aug 9 at 1:06PM
MLS# 406865
Copyright © 2026 Baldwin REALTORS®. 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 property brings together approximately 10,000+/- square feet of warehouse, office, and retail/showroom space at 22442 Doc McDuffie Rd. The warehouse area provides room for storage, manufacturing, distribution, or light industrial operations, while a separate office suite includes a kitchenette. A dedicated showroom component accommodates product displays and customer-facing activity.
The property is near the Foley Beach Express, with access to Foley, Gulf Shores, Orange Beach, and the surrounding Baldwin County market. Its waterfront designation adds another notable physical characteristic. The combined layout supports businesses seeking warehouse and administrative space alongside a retail-oriented area, including contractors, wholesalers, e-commerce businesses, and service providers.
The property is near the Foley Beach Express, with access to Foley, Gulf Shores, Orange Beach, and the surrounding Baldwin County market. Its waterfront designation adds another notable physical characteristic. The combined layout supports businesses seeking warehouse and administrative space alongside a retail-oriented area, including contractors, wholesalers, e-commerce businesses, and service providers.
Key Highlights
- 10,000+/- square feet of combined warehouse, office, and retail/showroom space
- Warehouse area supports storage, manufacturing, distribution, or light industrial use
- Office suite includes a kitchenette
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
$63,118
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
6.38%
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%
$1,262,360
$1.3M
Cap Rate 7%
$901,686
$901.7K
Cap Rate 9%
$701,311
$701.3K
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
$78.0K $7.80/SF
− Vacancy
−$3.7K −$0.37/SF
EGI
$74.3K $7.43/SF
− OpEx
−$11.1K −$1.11/SF
NOI
$63.1K $6.31/SF
Area
Baldwin County, AL
Vacancy
4.80%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
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%
$1,262,360
Cap Rate 7%
$901,686
Cap Rate 9%
$701,311
Alternative Uses
Best Use
Office B
$1.67M
$1.46M – $1.94M
NOI $116,640 @ 7.0% cap · market cap 11.79%
Second Best
Retail
$1.54M
$1.35M – $1.79M
NOI $107,604 @ 7.0% cap · market cap 10.88%
Theoretical Best
Office A
$2.40M
$2.10M – $2.81M
NOI $168,336 @ 7.0% cap · market cap 17.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36535, AL
35,484
Population
18,755
Households
1.9
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
92.5 sq mi
ZIP Area
384
Density / Sq Mi
$67,013
Median Household Income
$41,574
Median Earnings
$1,168
Median Rent
$250,800
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 - Multi-functional commercial property combines warehouse, office, and showroom components for varied business operations.
Where is this flex space located?
The property is located at 22442 Doc McDuffie Rd Foley, AL.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: 10,000+/- square feet of combined warehouse, office, and retail/showroom space; Warehouse area supports storage, manufacturing, distribution, or light industrial use; Office suite includes a kitchenette
