Flex Building With Dock
New
For Sale
$1,200,000
3240 Leeman Ferry Road SW, Huntsville, AL 35801
SINGLE_FAMILY - Huntsville, AL
Property Size12,000 SF
Lot Size1.60 Acres
Price / SF$100
Days on Market2
Property Features for 3240 Leeman Ferry Road SW
General Information
Property type
Residential
Property subtype
Office
Zoning description
Business, Commercial, Industrial
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 6, Bathroom 3, Bathroom 7, Bathroom 2, Bathroom 5, Bathroom 4, Bathroom 1, Bathroom 8
Directions
231 South - West On Drake - South On Leeman Ferry Rd - Property Is On The Right
Standard status
Active
APN
1706141000033000
Size
12,000 SF
Lot size
1.60 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1976
Floors in Building
2
Flooring type
Carpet, Vinyl
Roof type
Metal
Listing Agency:
Capstone Realty
(256) 382-7300
Listed By:
Phillip Drummond · License #95108
(256) 656-2343
Added: Aug 18
Last Checked: Aug 19 at 2:06AM
MLS# 21926774
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.
This 12,000 SF flex property at 3240 Leeman Ferry Road SW combines approximately 6,000 SF of office area with approximately 6,000 SF of warehouse space. A heated and cooled shop office adds finished workspace within the warehouse portion. The building includes carpet and vinyl flooring, central air, natural gas heat, a metal roof, public water, and public sewer. Constructed in 1976, the property occupies 1.6 acres and includes eight bathrooms.
Loading capacity includes a 12x12 drive-in door, a 12x12 dock-high door, and a 14x8 dock-high door. The South Huntsville location provides access to Memorial Parkway, Downtown Huntsville, and nearby commercial corridors. The surrounding area is undergoing redevelopment with new commercial activity.
Loading capacity includes a 12x12 drive-in door, a 12x12 dock-high door, and a 14x8 dock-high door. The South Huntsville location provides access to Memorial Parkway, Downtown Huntsville, and nearby commercial corridors. The surrounding area is undergoing redevelopment with new commercial activity.
Key Highlights
- 12,000 SF flex building on 1.6 acres
- Approximately 6,000 SF office and 6,000 SF warehouse
- Heated and cooled shop office within the warehouse area
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
1
Dock-high doors
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,266
Businesses Nearby
Under-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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Balanced office and warehouse configuration with a heated and cooled shop office.
Where is this flex space located?
The property is located at 3240 Leeman Ferry Road SW 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 on 1.6 acres; Approximately 6,000 SF office and 6,000 SF warehouse; Heated and cooled shop office within the warehouse area
