Two-Unit Industrial
For Sale
Contact for pricing
5670 Middle Road, Theodore, AL 36582
Vacant industrial facility with flexible warehouse configuration and regional highway access in Theodore.
Property Size10,055 SF
Lot Size1.33 Acres
Price / SF$74.59
Days on Market145
Property Features for 5670 Middle Road
General Information
Standard status
Active
Size
10,055 SF
Lot size
1.33 Acres
Property subtype
Industrial
Zoning
County
Investment Type
Owner/User
Warehouse & Industrial
Clear Span
Yes
Warehouse Space
10,055 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
2006
Buildings
1
Stories
1
Units
2
Building Size
10,055 SF
Listing Agency:
Berkshire Hathaway HomeServices Cooper & Co. Inc., REALTORS¨ Mobile
(251) 583-1009
Listed By:
Anthony Cooper · License #AL 000008292
Source:
Crexi
Added: Apr 9
Changed: Aug 30
Last Checked: Aug 30 at 5:35PM
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 HomeServices Cooper & Co. Inc., REALTORS¨ Mobile
Investment Insights
Based on property information with market context.
This 2006 industrial warehouse contains approximately 10,055 square feet on a 1.33-acre parcel. The building measures approximately 50.2 feet by 200.3 feet and has a 20-foot eave height. Interior space is divided into two warehouse units of approximately 5,000 square feet each, supporting single-user or multi-tenant occupancy. The property is currently vacant and was previously used for moving and storage.
Located at 5670 Middle Road in Theodore, the site is in Mobile County and offers access to Interstate 10 through U.S. Highway 90. Interstate 10 Exit 15 is approximately 2.5 to 3 miles away. The sale is subject to Mobile County's final approval of a new three-lot subdivision.
Located at 5670 Middle Road in Theodore, the site is in Mobile County and offers access to Interstate 10 through U.S. Highway 90. Interstate 10 Exit 15 is approximately 2.5 to 3 miles away. The sale is subject to Mobile County's final approval of a new three-lot subdivision.
Key Highlights
- Approximately 10,055 SF industrial warehouse on 1.33 acres
- Two warehouse units of approximately 5,000 SF each
- 20‑foot eave height and approximately 50.2' x 200.3' building dimensions
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
$57,352
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
7.65%
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%
$1,147,040
$1.1M
Cap Rate 7%
$819,314
$819.3K
Cap Rate 9%
$637,244
$637.2K
Market Conditions
NOI Build-Up for 10,055 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
$72.4K $7.20/SF
− Vacancy
−$4.9K −$0.49/SF
EGI
$67.5K $6.71/SF
− OpEx
−$10.1K −$1.01/SF
NOI
$57.4K $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%
$1,147,040
Cap Rate 7%
$819,314
Cap Rate 9%
$637,244
Alternative Uses
Best Use
Warehouse
$819.3K
$716.9K – $955.9K
NOI $57,352 @ 7.0% cap · market cap 7.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.98M
NOI $178,895 @ 7.0% cap · market cap 23.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
30
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
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 - Vacant industrial facility with flexible warehouse configuration and regional highway access in Theodore.
Where is this warehouse located?
The property is located at 5670 Middle Road Theodore, AL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Approximately 10,055 SF industrial warehouse on 1.33 acres; Two warehouse units of approximately 5,000 SF each; 20‑foot eave height and approximately 50.2' x 200.3' building dimensions
