Flex Space With Dock
New
For Sale
$1,200,000
3240 Leeman Ferry SW Road, Huntsville, AL 35801
Balanced office and warehouse configuration includes a heated and cooled shop office.
Property Size12,000 SF
Price / SF$100
Days on Market4
Property Features for 3240 Leeman Ferry SW Road
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Commercial/Industrial
Warehouse & Industrial
Warehouse Space
6,000 SF
Office Build-Out
6,000 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,773
Building Details
Year Built
1976
Buildings
1
Building Size
12,000 SF
Listing Agency:
Capstone Realty
(256) 656-2343
Listed By:
Phillip Drummond · License #95108
(256) 656-2343
Source:
Exitrealty
Added: Aug 19
Changed: Aug 21
Last Checked: Aug 22 at 4:00AM
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 12,000 SF flex building at 3240 Leeman Ferry SW Road combines approximately 6,000 SF of office area with approximately 6,000 SF of warehouse space. Part of the warehouse is configured with a heated and cooled shop office, adding functional workspace within the industrial portion of the building. Loading infrastructure includes a 12x12 drive-in door, a 12x12 dock-high door, and a 14x8 dock-high door.
The property is in South Huntsville near Memorial Parkway, Downtown Huntsville, and nearby commercial corridors. Built in 1976, the building offers a combined office, warehouse, shop, and loading-door layout for commercial operations requiring both administrative and functional space.
The property is in South Huntsville near Memorial Parkway, Downtown Huntsville, and nearby commercial corridors. Built in 1976, the building offers a combined office, warehouse, shop, and loading-door layout for commercial operations requiring both administrative and functional space.
Key Highlights
- 12,000 SF flex building with approximately 6,000 SF of office and 6,000 SF of warehouse space
- Warehouse includes a heated and cooled shop office
- One 12x12 drive‑in door
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
Lease Details
Yes
Highway access
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 - Balanced office and warehouse configuration includes a heated and cooled shop office.
Where is this flex space located?
The property is located at 3240 Leeman Ferry SW 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 approximately 6,000 SF of office and 6,000 SF of warehouse space; Warehouse includes a heated and cooled shop office; One 12x12 drive‑in door
