Renovated Flex
For Sale
Contact for pricing
3002 Bob Wallace Ave SW, Huntsville, AL 35805
Fully leased office and warehouse property with recent renovations and central access to Huntsville employment and service areas.
Property Size4,666 SF
Price / SF$138.23
Days on Market148
Property Features for 3002 Bob Wallace Ave SW
General Information
Standard status
Active
Size
4,666 SF
Property subtype
Industrial, Office
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Stories
1
Listing Agency:
Triad Properties Corporation
Listed By:
Jim Kaplan · License #AL 000069868
Source:
Crexi
Added: Apr 9
Changed: Aug 31
Last Checked: Sep 3 at 3:35AM
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 Triad Properties Corporation
Investment Insights
Based on property information with market context.
This 4,666-square-foot flex property combines office space with warehouse functionality across 3000 and 3002 Bob Wallace Avenue. The building has been recently renovated throughout and is fully leased, providing an established occupancy profile for a purchaser.
The property sits between Memorial Parkway and I-565 in Huntsville, with convenient driving access to the medical district, downtown, the Airport Road area, and Cummings Research Park. Its mix of office and warehouse space supports a range of commercial operations within a single asset.
The property sits between Memorial Parkway and I-565 in Huntsville, with convenient driving access to the medical district, downtown, the Airport Road area, and Cummings Research Park. Its mix of office and warehouse space supports a range of commercial operations within a single asset.
Key Highlights
- 4,666‑square‑foot flex property with office and warehouse space
- Fully leased asset with recent renovations throughout
- Includes 3000 and 3002 Bob Wallace Avenue
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
$50,225
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
7.79%
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%
$1,004,500
$1.0M
Cap Rate 7%
$717,500
$717.5K
Cap Rate 9%
$558,056
$558.1K
Market Conditions
NOI Build-Up for 4,666 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
$84.0K $18.00/SF
− Vacancy
−$6.7K −$1.44/SF
EGI
$77.3K $16.56/SF
− OpEx
−$27.0K −$5.80/SF
NOI
$50.2K $10.76/SF
Area
Huntsville, AL
Vacancy
8.00%
Lease Rate
$18.00 /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%
$1,004,500
Cap Rate 7%
$717,500
Cap Rate 9%
$558,056
Alternative Uses
Best Use
Office B
$851.6K
$745.1K – $993.5K
NOI $59,610 @ 7.0% cap · market cap 9.24%
Second Best
Flex RnD
$717.5K
$627.8K – $837.1K
NOI $50,225 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,052 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,085
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35805, AL
23,189
Population
10,618
Households
2.2
Avg Household Size
31
Median Age
18%
College-Educated
78%
High-School Grad
9.2 sq mi
ZIP Area
2,521
Density / Sq Mi
$31,247
Median Household Income
$26,824
Median Earnings
$800
Median Rent
$108,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fully leased office and warehouse property with recent renovations and central access to Huntsville employment and service areas.
Where is this flex space located?
The property is located at 3002 Bob Wallace Ave SW Huntsville, AL.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 4,666‑square‑foot flex property with office and warehouse space; Fully leased asset with recent renovations throughout; Includes 3000 and 3002 Bob Wallace Avenue
