Industrial Warehouse with Loading
For Sale
Contact for pricing
509 E Section Ave, Foley, AL 36535
Flexible industrial facility combines conditioned office and warehouse areas with substantial storage and loading capacity.
Property Size35,222 SF
Lot Size4.80 Acres
Price / SF$106.47
Days on Market16
Property Features for 509 E Section Ave
General Information
Standard status
Active
Size
35,222 SF
Lot size
4.80 Acres
Property subtype
INDUSTRIAL
Warehouse & Industrial
Office Build-Out
5,022 SF
Conditioned Warehouse
Yes
Additional Details
Utilities to Site
Yes
Building Details
Building Size
35,222 SF
Listing Agency:
Meyer Real Estate
(251) 949-2304
Listed By:
Les Williams
(251) 223-1318
Source:
Moodyscre
Added: Aug 24
Changed: Sep 5
Last Checked: Sep 7 at 10:22AM
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 Meyer Real Estate
Investment Insights
Based on property information with market context.
This 35,222 +/- square-foot warehouse property occupies 4.80 acres and includes a combination of finished office, conditioned warehouse, and non-climate-controlled storage areas. The property provides 5,022 square feet of finished and conditioned office space, along with 4,400 square feet of conditioned warehouse space served by one roll-up door. The remaining warehouse area includes mezzanine storage, three overhead roll-up doors, four truck doors, and a loading dock.
Located at 509 E. Section Ave in Foley, Alabama, the facility receives utility service from Riviera Utilities. The combination of office improvements, multiple warehouse environments, truck access, and loading infrastructure supports a range of industrial property requirements. The seller is also open to leasing the property.
Located at 509 E. Section Ave in Foley, Alabama, the facility receives utility service from Riviera Utilities. The combination of office improvements, multiple warehouse environments, truck access, and loading infrastructure supports a range of industrial property requirements. The seller is also open to leasing the property.
Key Highlights
- 4.80‑acre industrial warehouse property
- 35,222 +/- square feet total building area
- 5,022 square feet of finished, conditioned office space
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
$222,313
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
5.93%
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%
$4,446,260
$4.4M
Cap Rate 7%
$3,175,900
$3.2M
Cap Rate 9%
$2,470,144
$2.5M
Market Conditions
NOI Build-Up for 35,222 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
$274.7K $7.80/SF
− Vacancy
−$13.2K −$0.37/SF
EGI
$261.5K $7.43/SF
− OpEx
−$39.2K −$1.11/SF
NOI
$222.3K $6.31/SF
Area
Baldwin County, AL
Vacancy
4.80%
Lease Rate
$7.80 /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%
$4,446,260
Cap Rate 7%
$3,175,900
Cap Rate 9%
$2,470,144
Alternative Uses
Best Use
Warehouse
$3.18M
$2.78M – $3.71M
NOI $222,313 @ 7.0% cap · market cap 5.93%
Second Best
Flex RnD
$2.98M
$2.61M – $3.48M
NOI $208,645 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$8.47M
$7.41M – $9.88M
NOI $592,913 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
808
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 36535, AL
35,484
Population
18,755
Households
1.9
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
92.5 sq mi
ZIP Area
384
Density / Sq Mi
$67,013
Median Household Income
$41,574
Median Earnings
$1,168
Median Rent
$250,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sam Hollis & Sons Moving & Storage — 214 S McKenzie St, Foley, AL 36535
- Southern Storage of Foley — 721 N McKenzie St, Foley, AL 36535
- Self Storage 943 Mini — W Section Ave, Foley, AL 36535
Frequently Asked Questions
What type of property is this?
Warehouse - Flexible industrial facility combines conditioned office and warehouse areas with substantial storage and loading capacity.
Where is this warehouse located?
The property is located at 509 E Section Ave Foley, AL.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 4.80‑acre industrial warehouse property; 35,222 +/- square feet total building area; 5,022 square feet of finished, conditioned office space
