Flex Space with Roll-Up
For Sale
$425,000
2803 Greystone Commercial Boulevard Unit 20, Hoover, AL 35242
Finished office areas combine with rear loading access and dedicated parking in a professionally managed commercial complex.
Property Size2,010 SF
Price / SF$211.44
Days on Market17
Property Features for 2803 Greystone Commercial Boulevard Unit 20
General Information
Standard status
Active
Size
2,010 SF
Additional Details
HOA Fee
$401.42
Highway Access
Yes
Drive-In Doors
1
Building Details
Year Built
2007
Listing Agency:
Keller Williams Realty Vestavia
(806) 771-7710
Listed By:
Susanne Moore
Source:
Soldbystratford
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 25 at 5:29AM
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 Keller Williams Realty Vestavia
Investment Insights
Based on property information with market context.
Unit 20 is a 2,010-square-foot flex property built in 2007, combining finished office improvements with functional service space. The interior includes multiple private offices, open work areas, and a conference room, while the rear roll-up door provides drive-up loading and storage access. Dedicated on-site parking is included.
The property is located at 2803 Greystone Commercial Boulevard with immediate access to Highway 280. The surrounding area includes retail, dining, banking, and business services, and Lee Branch is only minutes away. This configuration supports a client-facing office presence alongside receiving, storage, and staging functions.
The property is located at 2803 Greystone Commercial Boulevard with immediate access to Highway 280. The surrounding area includes retail, dining, banking, and business services, and Lee Branch is only minutes away. This configuration supports a client-facing office presence alongside receiving, storage, and staging functions.
Key Highlights
- 2,010 SF flex unit with finished office improvements
- Rear roll‑up door provides drive‑up loading and storage access
- Multiple private offices, open work areas, and a conference room
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
$35,421
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
8.33%
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%
$708,420
$708.4K
Cap Rate 7%
$506,014
$506.0K
Cap Rate 9%
$393,567
$393.6K
Market Conditions
NOI Build-Up for 2,010 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
$53.3K $26.52/SF
− Vacancy
−$6.1K −$3.02/SF
EGI
$47.2K $23.50/SF
− OpEx
−$11.8K −$5.87/SF
NOI
$35.4K $17.62/SF
Area
Jefferson County, AL
Vacancy
11.40%
Lease Rate
$26.52 /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%
$708,420
Cap Rate 7%
$506,014
Cap Rate 9%
$393,567
Alternative Uses
Best Use
Office B
$506.0K
$442.8K – $590.4K
NOI $35,421 @ 7.0% cap · market cap 8.33%
Second Best
Warehouse
$320.9K
$280.8K – $374.4K
NOI $22,461 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$691.5K
$605.1K – $806.7K
NOI $48,404 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,218
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35242, AL
57,008
Population
25,247
Households
2.3
Avg Household Size
42
Median Age
65%
College-Educated
97%
High-School Grad
52.4 sq mi
ZIP Area
1,088
Density / Sq Mi
$116,053
Median Household Income
$59,731
Median Earnings
$1,430
Median Rent
$452,300
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.
Similar Off Market Nearby
- Publix Catering at The Village at Lee Branch — 410 Doug Baker Blvd, Hoover, AL 35242
- Last Note Catering — 207 Shoal Run Trail, Birmingham, AL 35242
- Christian Catering Co — Birmingham, AL 35242
- Constantine Catering Services, LLC — 5409 US-280, Birmingham, AL 35242
Frequently Asked Questions
What type of property is this?
Flex space - Finished office areas combine with rear loading access and dedicated parking in a professionally managed commercial complex.
Where is this flex space located?
The property is located at 2803 Greystone Commercial Boulevard Unit 20 Hoover, AL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,010 SF flex unit with finished office improvements; Rear roll‑up door provides drive‑up loading and storage access; Multiple private offices, open work areas, and a conference room
