Northport Industrial Investment
For Sale
Contact for pricing
600 64th Ave, Northport, AL 35476
Fully leased industrial property in Northport, Alabama for sale.
Property Size67,659 SF
Price / SF$95.33
Days on Market204
Property Features for 600 64th Ave
General Information
Standard status
Active
Size
67,659 SF
Property subtype
Industrial
Lease Type
NNN
Building Details
Year Built
1998
Year Renovated
2014
Buildings
2
Stories
1
Tenancy
Single
Listing Agency:
Ironvest Partners
(205) 977-9797
Listed By:
Robert Crook · License #AL 000003190
Source:
Crexi
Added: Jan 28
Changed: Aug 8
Last Checked: Jul 23 at 12:13PM
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 Ironvest Partners
Investment Insights
Based on property information with market context.
This offering presents the opportunity to acquire a fully leased industrial investment property located at 600 64th Avenue North in Northport, Alabama. The property consists of two industrial buildings totaling approximately 67,659 square feet. Originally constructed in 1998 and expanded in 2014, the property features strong clear heights, heavy power capacity, and overhead crane infrastructure. It also includes a combination of dock-high and drive-in loading, making it suitable for manufacturing and distribution purposes. The property is currently leased to Coral Industries under a long-term triple-net lease. The lease has nearly six years remaining, along with built-in rental escalations and a tenant renewal option, providing stable cash flow.
Key Highlights
- Fully leased industrial investment property providing stable and growing cash flow.
- Long‑term triple‑net lease with nearly six years remaining and built‑in rental escalations.
- Two industrial buildings totaling approximately 67,659 SF.
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
$409,905
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
6.36%
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%
$8,198,100
$8.2M
Cap Rate 7%
$5,855,786
$5.9M
Cap Rate 9%
$4,554,500
$4.6M
Market Conditions
NOI Build-Up for 67,659 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
$503.4K $7.44/SF
− Vacancy
−$21.1K −$0.31/SF
EGI
$482.2K $7.13/SF
− OpEx
−$72.3K −$1.07/SF
NOI
$409.9K $6.06/SF
Area
Tuscaloosa County, AL
Vacancy
4.20%
Lease Rate
$7.44 /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%
$8,198,100
Cap Rate 7%
$5,855,786
Cap Rate 9%
$4,554,500
Alternative Uses
Best Use
Warehouse
$5.86M
$5.12M – $6.83M
NOI $409,905 @ 7.0% cap · market cap 6.36%
Second Best
Industrial
$4.65M
$4.07M – $5.43M
NOI $325,656 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$16.26M
$14.23M – $18.97M
NOI $1,138,133 @ 7.0% cap · market cap 17.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
Explore this area
Business Placement
Demographics for 35476, AL
8,697
Population
3,597
Households
2.4
Avg Household Size
36
Median Age
23%
College-Educated
86%
High-School Grad
6.9 sq mi
ZIP Area
1,260
Density / Sq Mi
$59,545
Median Household Income
$37,304
Median Earnings
$940
Median Rent
$196,800
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?
Industrial property - Fully leased industrial property in Northport, Alabama for sale.
Where is this industrial property located?
The property is located at 600 64th Ave Northport, AL.
What is the asking price?
The asking price for this property is $6,450,000.
What are key features of this property?
This property features: Fully leased industrial investment property providing stable and growing cash flow.; Long‑term triple‑net lease with nearly six years remaining and built‑in rental escalations.; Two industrial buildings totaling approximately 67,659 SF.
