Firewall-Divided Warehouse Distribution
For Sale
Contact for pricing
5670 Middle Rd, Theodore, AL 36582
Warehouse distribution building with 22' eave height, smooth concrete floors, insulated interior, and two roll-up doors.
Property Size10,000 SF
Lot Size2.76 Acres
Price / SF$63.50
Days on Market565
Property Features for 5670 Middle Rd
General Information
Standard status
Active
Size
10,000 SF
Lot size
2.76 Acres
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
22 ft
Drive-In Doors
2
Listing Agency:
Berkshire Hathaway Cooper & Co.
(251) 344-5925
Listed By:
David Cooper · License #000065441
(251) 583-1009
Source:
Moodyscre
Added: Feb 17, 2025
Changed: Aug 14
Last Checked: Jul 21 at 6:33AM
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 Berkshire Hathaway Cooper & Co.
Investment Insights
Based on property information with market context.
This warehouse distribution building is designed for storage and distribution, with a fully insulated interior, smooth finished concrete flooring, and 22' eave height. The facility includes two 12x14' roll-up doors, power and water, and a firewall dividing the space into two separate 5,000 SF warehouse areas. Outside, there is a 100' covered loading area with a forklift ramp at dock height and one ground leveler.
The property sits just outside city limits with no zoning restrictions. It is located near I-10 at Exit 15 (Hwy 90), less than 1.4 miles away. Lot size is approximately 1.51 acres up to 2.76 acres, subject to planning commission approval of new lot dimensions and subdivision; subdivision costs would be the purchaser’s responsibility.
An additional 1.25 acres of adjoining land is available for sale separately.
The property sits just outside city limits with no zoning restrictions. It is located near I-10 at Exit 15 (Hwy 90), less than 1.4 miles away. Lot size is approximately 1.51 acres up to 2.76 acres, subject to planning commission approval of new lot dimensions and subdivision; subdivision costs would be the purchaser’s responsibility.
An additional 1.25 acres of adjoining land is available for sale separately.
Key Highlights
- 10,000 SF warehouse distribution building with 22' eave height and fully insulated interior.
- Smooth finished concrete flooring plus power and water in the warehouse.
- Two 12x14' roll‑up doors and a (2) 5,000 SF layout divided by a firewall.
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
$57,038
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
8.98%
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%
$1,140,760
$1.1M
Cap Rate 7%
$814,829
$814.8K
Cap Rate 9%
$633,756
$633.8K
Market Conditions
NOI Build-Up for 10,000 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
$72.0K $7.20/SF
− Vacancy
−$4.9K −$0.49/SF
EGI
$67.1K $6.71/SF
− OpEx
−$10.1K −$1.01/SF
NOI
$57.0K $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 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%
$1,140,760
Cap Rate 7%
$814,829
Cap Rate 9%
$633,756
Alternative Uses
Best Use
Warehouse
$814.8K
$713.0K – $950.6K
NOI $57,038 @ 7.0% cap · market cap 8.98%
Second Best
Industrial
$671.0K
$587.2K – $782.9K
NOI $46,973 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$2.54M
$2.22M – $2.97M
NOI $177,917 @ 7.0% cap · market cap 28.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
2
Drive-in doors
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Under-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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse distribution building with 22' eave height, smooth concrete floors, insulated interior, and two roll-up doors.
Where is this warehouse located?
The property is located at 5670 Middle Rd Theodore, AL.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: 10,000 SF warehouse distribution building with 22' eave height and fully insulated interior.; Smooth finished concrete flooring plus power and water in the warehouse.; Two 12x14' roll‑up doors and a (2) 5,000 SF layout divided by a firewall.
