Industrial Warehouse with Office
New
For Sale
$3,750,000
509 E Section Ave, Foley, AL 36535
Commercial Sale, Foley, AL
Property Size35,222 SF
Lot Size4.80 Acres
Price / SF$106.47
Days on Market1
Property Features for 509 E Section Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Industrial
Directions
Located in Foley Industrial Park behind Riviera Utilities corporate office across the street from Vulcan. From Highway 59, take E. Section Street to intersection of N. Poplar Street. Property will be on the NE corner of the intersection
Subdivision
Baldwin
Standard status
Active
APN
0554-05-21-3000-014.003
Lot size
4.80 Acres
Taxes and HOA fees
Tax Description
547'(S) X 384'(S) BEG AT THE INT OF N R/W OF SECTION AVE & W R/W OF JUNIPER ST RUN TH W 373.5', TH N 547'(S), E 384'(S), TH S 542'(S) TO THE POB ALL OF LOTS 47 AND 48 AND PT OF LOT S 34, 35, 36 AND 46 SUMMIT ADDN IN THE CITY OF FOLEY SEC 21- T7S-R4E (WD) IN#1625938
Legal Description
547'(S) X 384'(S) BEG AT THE INT OF N R/W OF SECTION AVE & W R/W OF JUNIPER ST RUN TH W 373.5', TH N 547'(S), E 384'(S), TH S 542'(S) TO THE POB ALL OF LOTS 47 AND 48 AND PT OF LOT S 34, 35, 36 AND 46 SUMMIT ADDN IN THE CITY OF FOLEY SEC 21- T7S-R4E (WD) IN#1625938
Listing Agency:
Meyer Real Estate · Century 21 Real Estate
(251) 223-1318
Listed By:
James Les Williams · License #51202
(251) 223-1318
Added: Aug 24
Last Checked: Aug 24 at 8:06PM
MLS# 409488
Copyright © 2026 Baldwin REALTORS®. 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 industrial warehouse property occupies 4.80 acres in Foley and combines finished office, conditioned warehouse, and larger non-climate-controlled storage areas. The office component measures 5,022 square feet, while 4,400 square feet of warehouse space is conditioned and includes one roll-up door. Additional warehouse areas provide mezzanine storage, three overhead roll-up doors, four truck doors, and a loading dock.
Riviera Utilities supplies the property’s utility services. The facility is located at 509 E Section Ave in Foley, Baldwin County, Alabama, and carries Industrial zoning. The combination of office, warehouse, storage, and loading features supports a range of industrial property requirements. Seller leasing is also being considered.
Riviera Utilities supplies the property’s utility services. The facility is located at 509 E Section Ave in Foley, Baldwin County, Alabama, and carries Industrial zoning. The combination of office, warehouse, storage, and loading features supports a range of industrial property requirements. Seller leasing is also being considered.
Key Highlights
- 4.80‑acre industrial property at 509 E Section Ave, Foley, AL 36535
- 5,022 square feet of finished, conditioned office space
- 4,400 square feet of conditioned warehouse space with one roll‑up 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
$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
774
Businesses Nearby
Well-served
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
- Southern Storage of Foley — 721 N McKenzie St, Foley, AL 36535
- Self Storage 943 Mini — W Section Ave, Foley, AL 36535
- Sam Hollis & Sons Moving & Storage — 214 S McKenzie St, Foley, AL 36535
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial facility with conditioned offices, warehouse areas, loading infrastructure, and mezzanine storage on an expansive commercial site.
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 property at 509 E Section Ave, Foley, AL 36535; 5,022 square feet of finished, conditioned office space; 4,400 square feet of conditioned warehouse space with one roll‑up door
