Flex-Warehouse with Truck
For Sale
Contact for pricing
302 Alabama Street, Auburn, AL 36832
Flex-warehouse with a heated/cooled office and multiple roll-up doors for practical loading and everyday operations.
Property Size18,450 SF
Price / SF$113.82
Days on Market108
Property Features for 302 Alabama Street
General Information
Standard status
Active
Size
18,450 SF
Property subtype
Industrial
Warehouse & Industrial
Dock-High Doors
2
Drive-In Doors
3
Additional Details
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Moore Company Realty
Listed By:
Perry Patino · License #156372-1
(334) 386-2439
Source:
Crexi
Added: Jun 10
Changed: Sep 18
Last Checked: Sep 24 at 9:04AM
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 Moore Company Realty
Investment Insights
Based on property information with market context.
This flex-warehouse property includes a heated/cooled office plus warehouse space designed for a mix of storage and light operational needs. Loading is supported by two truck docks and three roll-up doors, including one 15x12 roll-up door and two 12x8 roll-up doors, giving flexibility for receiving and distribution workflows.
Located at 302-304 Alabama St in Auburn, the property is positioned about 2.4± miles from Auburn University and approximately 3.5± miles from I-85. The combination of local access and proximity to the interstate can be useful for businesses that need to move goods while remaining close to central Auburn.
For tenants or owner-users seeking functional warehouse space with an on-site office, the layout supports day-to-day management alongside loading activity. The presence of multiple roll-up options and dock access can help accommodate different door heights and receiving setups, while the dedicated office helps keep administrative work separate from the warehouse floor.
Located at 302-304 Alabama St in Auburn, the property is positioned about 2.4± miles from Auburn University and approximately 3.5± miles from I-85. The combination of local access and proximity to the interstate can be useful for businesses that need to move goods while remaining close to central Auburn.
For tenants or owner-users seeking functional warehouse space with an on-site office, the layout supports day-to-day management alongside loading activity. The presence of multiple roll-up options and dock access can help accommodate different door heights and receiving setups, while the dedicated office helps keep administrative work separate from the warehouse floor.
Key Highlights
- Flex‑warehouse at 302‑304 Alabama St, Auburn, AL
- Heated/cooled office space included
- Two truck docks for loading and receiving
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
$154,568
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
7.36%
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%
$3,091,360
$3.1M
Cap Rate 7%
$2,208,114
$2.2M
Cap Rate 9%
$1,717,422
$1.7M
Market Conditions
NOI Build-Up for 18,450 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
$259.0K $14.04/SF
− Vacancy
−$21.2K −$1.15/SF
EGI
$237.8K $12.89/SF
− OpEx
−$83.2K −$4.51/SF
NOI
$154.6K $8.38/SF
Area
Lee County, AL
Vacancy
8.20%
Lease Rate
$14.04 /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%
$3,091,360
Cap Rate 7%
$2,208,114
Cap Rate 9%
$1,717,422
Alternative Uses
Best Use
Flex RnD
$2.21M
$1.93M – $2.58M
NOI $154,568 @ 7.0% cap · market cap 7.36%
Second Best
Warehouse
$1.54M
$1.35M – $1.80M
NOI $108,126 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$4.50M
$3.94M – $5.25M
NOI $314,990 @ 7.0% cap · market cap 15.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Dock-high doors
3
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 36832, AL
29,349
Population
14,136
Households
2.1
Avg Household Size
26
Median Age
50%
College-Educated
95%
High-School Grad
68.1 sq mi
ZIP Area
431
Density / Sq Mi
$34,957
Median Household Income
$23,874
Median Earnings
$1,018
Median Rent
$222,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex-warehouse with a heated/cooled office and multiple roll-up doors for practical loading and everyday operations.
Where is this flex space located?
The property is located at 302 Alabama Street Auburn, AL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Flex‑warehouse at 302‑304 Alabama St, Auburn, AL; Heated/cooled office space included; Two truck docks for loading and receiving
