Office-Warehouse Facility in Theodore,
3515 Hurricane Bay Drive Theodore, AL 36582
3515 Hurricane Bay Drive, Theodore, AL, 36582
$1,600,000
For Sale
$1,600,000
Office-warehouse facility featuring office and warehouse space.
Property Size13,275 SF
Price / SF$120.53
Days on Market132
Property Features for 3515 Hurricane Bay Drive
General Information
- Standard status
- Active
- Size
- 13,275 SF
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 2004
Listing Agency
Roberts Brothers TREC
(251) 423-7830
Listed by
Richard Harski
(251) 423-7830
Source
Exitrealty
Added: Mar 7 Checked: Jul 17 at 4:20 am
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 Roberts Brothers TREC
Investment Insights
Based on property information with market context.
The property at 3515 Hurricane Bay Drive is an office-warehouse facility constructed in 2004 and consistently maintained. The gross building area totals approximately 13,275 square feet, including approximately 12,150 square feet of heated and cooled office space and approximately 1,125 square feet of warehouse space that is not climate-controlled. The warehouse includes one roll-up garage door and offers 22-foot clear ceiling heights. The property is suitable for a variety of office and light industrial uses and is located in Theodore, Alabama.
Key Highlights
- Office‑warehouse facility with ±12,150 sq ft of heated and cooled office space.
- Approximately 13,275 sq ft of gross building area.
- Warehouse space of ±1,125 sq ft with one roll‑up garage door.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $95.6k | $7.20 |
| − Vacancy | −$6.5k | −$0.49 |
| EGI | $89.1k | $6.71 |
| − OpEx | −$13.4k | −$1.01 |
| NOI | $75.7k | $5.70 |
13,275 SF · lease $7.20/SF/yr · vacancy 6.80% · expense 15.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Office-warehouse facility featuring office and warehouse space.
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: Office‑warehouse facility with ±12,150 sq ft of heated and cooled office space.; Approximately 13,275 sq ft of gross building area.; Warehouse space of ±1,125 sq ft with one roll‑up garage door.
