Building Details

Year Built 2002

Buildings 3

Listing Agency: RealtySouth - The Jones Company

Listed By: Stephanie Harvel · License #138155 Show Phone

Source: Exitrealty

Added: Sep 7 Changed: Oct 25 Last Checked: Sep 15 at 5:54AM

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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

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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 / Yr

$28,691

Cap Rate

8.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$573,820 $573.8K

Cap Rate 7%

$409,871 $409.9K

Cap Rate 9%

$318,789 $318.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,360 SF

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 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. How Realmo checks its estimates

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

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