Listing Agency: Herrington Realty, Inc Show Phone

Listed By: Colby Herrington, CCIM · License #0001008480 Show Phone

Source: Moodyscre

Added: Jun 23, 2025 Changed: Oct 25 Last Checked: Oct 26 at 7:20PM

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Investment Insights

Based on property information with market context.

This retail/distribution facility is configured in two sections: approximately 24,000 SF of retail storefront and approximately 16,000 SF of warehouse space. The overall offering is intended to support businesses needing both customer-facing retail presence and back-of-house distribution or storage capacity.

The property is located just off U.S. Highway 98 in Daphne, Alabama, with access to the Interstate only a couple minutes to the north. Daphne sits along the eastern shore of Mobile Bay, providing convenient connectivity to major highways and the nearby city of Mobile within Baldwin County.

Key Highlights

• Approx. 40,000 SF retail/distribution facility in Daphne, AL
• Split layout: approx. 24,000 SF retail storefront with attached warehouse portion
• Warehouse portion is approx. 16,000 SF

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$252,470

Cap Rate

7.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,049,400 $5.0M

Cap Rate 7%

$3,606,714 $3.6M

Cap Rate 9%

$2,805,222 $2.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 40,000 SF

Gross rent

$312.0K $7.80/SF

− Vacancy

−$15.0K −$0.37/SF

EGI

$297.0K $7.43/SF

− OpEx

−$44.6K −$1.11/SF

NOI

$252.5K $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 Rate 5%

$5,049,400

Cap Rate 7%

$3,606,714

Cap Rate 9%

$2,805,222

Alternative Uses

Best Use

Retail

$6.15M

$5.38M – $7.17M (±1% cap)

NOI $430,416 @ 7.0% cap · market cap 12.48%

Second Best

Warehouse

$3.61M

$3.16M – $4.21M (±1% cap)

NOI $252,470 @ 7.0% cap · market cap 7.32%

Theoretical Best

Office A

$9.62M

$8.42M – $11.22M (±1% cap)

NOI $673,344 @ 7.0% cap · market cap 19.52%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Kitchen & Bath Showroom Restaurant Hair Salon (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

198

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 36526, AL

35,720

Population

14,074

Households

2.5

Avg Household Size

40

Median Age

43%

College-Educated

94%

High-School Grad

37.7 sq mi

ZIP Area

947

Density / Sq Mi

$90,733

Median Household Income

$50,049

Median Earnings

$1,353

Median Rent

$311,000

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Facility features a split setup with retail frontage and an attached warehouse portion totaling approximately 40,000 SF.

Where is this flex space located?

The property is located at 27220 Us Highway 98 Daphne, AL.

What is the asking price?

The asking price for this property is $3,450,000.

What are key features of this property?

This property features: Approx. 40,000 SF retail/distribution facility in Daphne, AL; Split layout: approx. 24,000 SF retail storefront with attached warehouse portion; Warehouse portion is approx. 16,000 SF