Building Details

Year Built 2002

Buildings 3

Listing Agency: RealtySouth - The Jones Company Show Phone

Listed By: Stephanie Harvel · License #138155 Show Phone

Source: Exitrealty

Added: Sep 7 Changed: Sep 8 Last Checked: Sep 8 at 2:47PM

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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 RealtySouth - The Jones Company

Investment Insights

Based on property information with market context.

This flex-space property encompasses 5,360 square feet across three separate shop buildings on 2.81 acres. The improvements include a 40-by-40 block structure, a 32-by-80 metal building with an overhead crane, and a 60-by-20 metal building with a bathroom. Additional equipment includes a dedicated car paint room and a drive-on vehicle lift.

The property previously supported septic tank operations and burial vault manufacturing. Its combination of enclosed work areas, specialty equipment, and acreage provides a range of existing commercial configurations without assigning a specific future use.

Key Highlights

• 2.81‑acre flex‑space property with 5,360 square feet across three shop buildings
• 40x40 block shop building
• 32x80 metal building equipped with an overhead crane

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

$28,691

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

8.83%

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%

$573,820 $573.8K

Cap Rate 7%

$409,871 $409.9K

Cap Rate 9%

$318,789 $318.8K

Market Conditions

NOI Build-Up for 5,360 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

$48.2K $9.00/SF

− Vacancy

−$4.1K −$0.77/SF

EGI

$44.1K $8.24/SF

− OpEx

−$15.4K −$2.88/SF

NOI

$28.7K $5.35/SF

Area

Talladega County, AL

Vacancy

8.50%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

35.00%

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%

$573,820

Cap Rate 7%

$409,871

Cap Rate 9%

$318,789

Alternative Uses

Best Use

Flex RnD

$409.9K

$358.6K – $478.2K (±1% cap)

NOI $28,691 @ 7.0% cap · market cap 8.83%

Second Best

Warehouse

$369.0K

$322.9K – $430.6K (±1% cap)

NOI $25,833 @ 7.0% cap · market cap 7.95%

Theoretical Best

Office A

$1.10M

$959.3K – $1.28M (±1% cap)

NOI $76,744 @ 7.0% cap · market cap 23.61%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Pharmacy

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

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 35014, AL

3,679

Population

1,786

Households

2.1

Avg Household Size

47

Median Age

14%

College-Educated

83%

High-School Grad

78.9 sq mi

ZIP Area

47

Density / Sq Mi

$73,389

Median Household Income

$40,250

Median Earnings

$119,100

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - Three separate structures include industrial work areas, a paint room, vehicle lift, and overhead crane.

Where is this flex space located?

The property is located at 2772 Oakdale Road Alpine, AL.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: 2.81‑acre flex‑space property with 5,360 square feet across three shop buildings; 40x40 block shop building; 32x80 metal building equipped with an overhead crane