Maintained Flex
For Sale
$1,600,000
3515 Hurricane Bay Drive, Theodore, AL 36582
Commercial Sale, Theodore, AL
Property Size13,275 SF
Lot Size1.85 Acres
Price / SF$120.53
Days on Market227
Property Features for 3515 Hurricane Bay Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B5
Parking
57
Parking features
Parking Lot
Interior features
High Ceilings 10 or Greater, Reception Area, Restrooms
Lot features
Business Park, Industrial Park
Standard status
Active
APN
3902010005015017
Size
13,275 SF
Lot size
1.85 Acres
Taxes and HOA fees
Tax Annual Amount
17081
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2004
Floors in Building
2
Flooring type
Carpet, Tile - Ceramic
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Roberts Brothers TREC · Berkshire Hathaway HomeServices
(251) 344-9220
Listed By:
Richard Harski
(251) 423-7830
Added: Mar 6
Changed: Sep 12
Last Checked: Oct 19 at 10:06AM
MLS# 7729568
Copyright © 2026 Mobile Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This flex property combines a substantial office component with dedicated warehouse space in a metal-sided building constructed in 2004. The facility contains approximately 13,275 square feet, including approximately 12,150 square feet of heated and cooled office area and approximately 1,125 square feet of warehouse space without climate control. Interior features include a reception area, restrooms, high ceilings, carpet, and ceramic tile flooring. Central heating and air conditioning serve the office areas, while the warehouse provides a roll-up garage door and 22-foot clear heights.
The 1.85-acre property is located in Theodore, Alabama, and is served by public water and public sewer. Site improvements include a parking lot, metal roofing, and B5 zoning. The office-warehouse layout supports commercial operations requiring a large finished office presence alongside functional storage or work space.
The 1.85-acre property is located in Theodore, Alabama, and is served by public water and public sewer. Site improvements include a parking lot, metal roofing, and B5 zoning. The office-warehouse layout supports commercial operations requiring a large finished office presence alongside functional storage or work space.
Key Highlights
- Approximately 13,275 SF of gross building area on 1.85 acres
- Approximately 12,150 SF of heated and cooled office space
- Approximately 1,125 SF of non‑climate‑controlled warehouse space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,718
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,514,360
$1.5M
Cap Rate 7%
$1,081,686
$1.1M
Cap Rate 9%
$841,311
$841.3K
Market Conditions
NOI Build-Up for 13,275 SF
Gross rent
$95.6K $7.20/SF
− Vacancy
−$6.5K −$0.49/SF
EGI
$89.1K $6.71/SF
− OpEx
−$13.4K −$1.01/SF
NOI
$75.7K $5.70/SF
Area
Mobile, AL
Vacancy
6.80%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,514,360
Cap Rate 7%
$1,081,686
Cap Rate 9%
$841,311
Alternative Uses
Best Use
Office B
$2.64M
$2.31M – $3.08M
NOI $184,559 @ 7.0% cap · market cap 11.53%
Second Best
Warehouse
$1.08M
$946.5K – $1.26M
NOI $75,718 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$3.37M
$2.95M – $3.94M
NOI $236,185 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
22 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36582, AL
25,903
Population
10,409
Households
2.5
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
79.7 sq mi
ZIP Area
325
Density / Sq Mi
$61,498
Median Household Income
$37,043
Median Earnings
$916
Median Rent
$170,400
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 Office in South region
Frequently Asked Questions
What type of property is this?
Flex space - Office-heavy configuration with a separate non-climate-controlled warehouse area and roll-up access.
Where is this flex space located?
The property is located at 3515 Hurricane Bay Drive Theodore, AL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Approximately 13,275 SF of gross building area on 1.85 acres; Approximately 12,150 SF of heated and cooled office space; Approximately 1,125 SF of non‑climate‑controlled warehouse space
