Flex Building with Office-Warehouse
For Sale
Contact for pricing
3240 Leeman Ferry Road, Huntsville, AL 35801
Versatile commercial facility combining office suites, warehouse space, and a climate-controlled shop office.
Property Size12,000 SF
Price / SF$100
Days on Market13
Property Features for 3240 Leeman Ferry Road
General Information
Standard status
Active
Size
12,000 SF
Class
B
Property subtype
Office, Industrial
Zoning
HI
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Value Add
Warehouse & Industrial
Warehouse Space
6,000 SF
Office Build-Out
6,000 SF
Building Details
Buildings
1
Tenancy
Single
Building Size
12,000 SF
Listing Agency:
Capstone Realty
(256) 656-2343
Listed By:
Phillip Drummond · License #95108
Source:
Crexi
Added: Aug 19
Changed: Aug 30
Last Checked: Aug 31 at 5:18PM
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 Capstone Realty
Investment Insights
Based on property information with market context.
This HI-zoned flex property contains 12,000 SF arranged for both administrative and operational functions. Approximately 6,000 SF is configured as office space, while another 6,000 SF serves as warehouse space. Part of the warehouse area includes a heated and cooled shop office, adding conditioned workspace within the industrial portion of the building.
The property is located at 3240 Leeman Ferry Road in South Huntsville, with access to Memorial Parkway, Downtown Huntsville, the Medical District, and nearby commercial corridors. Its setting also places the facility near new mixed-use projects, revitalized commercial nodes, and ongoing commercial redevelopment.
The property is located at 3240 Leeman Ferry Road in South Huntsville, with access to Memorial Parkway, Downtown Huntsville, the Medical District, and nearby commercial corridors. Its setting also places the facility near new mixed-use projects, revitalized commercial nodes, and ongoing commercial redevelopment.
Key Highlights
- 12,000 SF flex building with office and warehouse components
- Approximately 6,000 SF of office space and 6,000 SF of warehouse space
- Warehouse area includes a heated and cooled shop office
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
$86,347
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
7.20%
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%
$1,726,940
$1.7M
Cap Rate 7%
$1,233,529
$1.2M
Cap Rate 9%
$959,411
$959.4K
Market Conditions
NOI Build-Up for 12,000 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
$108.0K $9.00/SF
− Vacancy
−$6.4K −$0.53/SF
EGI
$101.6K $8.47/SF
− OpEx
−$15.2K −$1.27/SF
NOI
$86.3K $7.20/SF
Area
Huntsville, AL
Vacancy
5.94%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,726,940
Cap Rate 7%
$1,233,529
Cap Rate 9%
$959,411
Alternative Uses
Best Use
Office B
$2.19M
$1.92M – $2.56M
NOI $153,306 @ 7.0% cap · market cap 12.78%
Second Best
Flex RnD
$1.85M
$1.61M – $2.15M
NOI $129,168 @ 7.0% cap · market cap 10.76%
Theoretical Best
Office A
$3.12M
$2.73M – $3.65M
NOI $218,736 @ 7.0% cap · market cap 18.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,069
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35801, AL
22,539
Population
11,225
Households
2
Avg Household Size
43
Median Age
55%
College-Educated
90%
High-School Grad
13.8 sq mi
ZIP Area
1,633
Density / Sq Mi
$103,125
Median Household Income
$60,370
Median Earnings
$1,130
Median Rent
$399,700
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 - Versatile commercial facility combining office suites, warehouse space, and a climate-controlled shop office.
Where is this flex space located?
The property is located at 3240 Leeman Ferry Road Huntsville, AL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 12,000 SF flex building with office and warehouse components; Approximately 6,000 SF of office space and 6,000 SF of warehouse space; Warehouse area includes a heated and cooled shop office
