Renovated Flex Space with Brand New
For Sale
$999,900
3010 University Drive, Huntsville, AL 35806
COMMERCIAL - Huntsville, AL
Property Size7,800 SF
Lot Size0.47 Acres
Price / SF$128.19
Days on Market35
Property Features for 3010 University Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial, Industrial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Directions
From North Parkway, Left On University, About 3 Miles Building On Right
Standard status
Active
Size
7,800 SF
Lot size
0.47 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
break rooms
Building Details
Floors in Building
1
Flooring type
Concrete
Listing Agency:
Norluxe Realty Huntsville
(256) 215-1755
Listed By:
Shana Leeth · License #116160
(256) 541-1400
Added: Jul 8
Changed: Aug 8
Last Checked: Aug 11 at 5:06PM
MLS# 21899144
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Renovated flex space offering a mix of open office layout and flexible industrial-style areas. The space is designed for private offices, conferences, or a modern showroom, and includes spacious break rooms plus an additional open section that can accommodate multiple business uses. Concrete flooring is featured throughout, along with stylish open industrial ceilings and a brand new HVAC system. The interior includes three bathrooms.
The property sits on 0.47 acres and has 7,800 square feet of space. Public water and public sewer services are available.
This is a versatile building layout for office-and-showroom type operations that also value flexible open space.
The property sits on 0.47 acres and has 7,800 square feet of space. Public water and public sewer services are available.
This is a versatile building layout for office-and-showroom type operations that also value flexible open space.
Key Highlights
- 0.47‑acre lot with 7,800 SF flex space
- Brand new HVAC system
- Open office layouts for private offices and conference rooms
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
$83,959
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
8.40%
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%
$1,679,180
$1.7M
Cap Rate 7%
$1,199,414
$1.2M
Cap Rate 9%
$932,878
$932.9K
Market Conditions
NOI Build-Up for 7,800 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
$140.4K $18.00/SF
− Vacancy
−$11.2K −$1.44/SF
EGI
$129.2K $16.56/SF
− OpEx
−$45.2K −$5.80/SF
NOI
$84.0K $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%
$1,679,180
Cap Rate 7%
$1,199,414
Cap Rate 9%
$932,878
Alternative Uses
Best Use
Office B
$1.42M
$1.25M – $1.66M
NOI $99,649 @ 7.0% cap · market cap 9.97%
Second Best
Retail
$1.36M
$1.19M – $1.59M
NOI $95,332 @ 7.0% cap · market cap 9.53%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,178 @ 7.0% cap · market cap 14.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35806, AL
25,702
Population
14,398
Households
1.8
Avg Household Size
36
Median Age
60%
College-Educated
97%
High-School Grad
25.4 sq mi
ZIP Area
1,012
Density / Sq Mi
$79,338
Median Household Income
$50,458
Median Earnings
$1,287
Median Rent
$318,800
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 - Renovated flex space with open office layouts, a modern showroom setup, and brand new HVAC, with public water and sewer.
Where is this flex space located?
The property is located at 3010 University Drive Huntsville, AL.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: 0.47‑acre lot with 7,800 SF flex space; Brand new HVAC system; Open office layouts for private offices and conference rooms
