Warehouse with Office and Development
For Sale
Contact for pricing
612 64th Avenue, Northport, AL 35476
A 2,400 SF warehouse with a 1,200 SF office plus excess land for future development on a multi-acre site.
Property Size2,400 SF
Lot Size6.70 Acres
Price / SF$331.25
Days on Market55
Property Features for 612 64th Avenue
General Information
Standard status
Active
Size
2,400 SF
Class
B
Lot size
6.70 Acres
Property subtype
Industrial, Land, Self Storage
Zoning
M1
Building Details
Buildings
2
Listing Agency:
Hamner Real Estate
(205) 345-0654
Listed By:
Robert Shaw, CCIM · License #AL 0000753020
Source:
Crexi
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 8 at 3:18PM
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 Hamner Real Estate
Investment Insights
Based on property information with market context.
The property includes a +/- 6.70 acre site with an existing 2,400 SF warehouse and a 1,200 SF office. The warehouse and office are already in place, providing space for light industrial operations supported by onsite administrative use. In addition to the existing improvements, there is excess land available that is described as ready for development.
The offering is a for-sale commercial site at 612 64th Avenue in Northport, AL. With both existing building space and room to expand, the parcel is suited to buyers who want current utility from the warehouse and office while also keeping flexibility for future project planning.
For tenants, this configuration can support companies looking for warehouse space with dedicated onsite office operations. For buyers and developers, the combination of existing improvements and developable excess land may help accommodate additional uses without requiring immediate replacement of the current facility. The property is best suited for interests that value both functional existing space and development optionality on a single site.
The offering is a for-sale commercial site at 612 64th Avenue in Northport, AL. With both existing building space and room to expand, the parcel is suited to buyers who want current utility from the warehouse and office while also keeping flexibility for future project planning.
For tenants, this configuration can support companies looking for warehouse space with dedicated onsite office operations. For buyers and developers, the combination of existing improvements and developable excess land may help accommodate additional uses without requiring immediate replacement of the current facility. The property is best suited for interests that value both functional existing space and development optionality on a single site.
Key Highlights
- 6.70‑acre site with 2,400 SF existing warehouse
- Includes 1,200 SF existing office space
- Excess land on‑site, ready for future development
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
$27,799
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
3.50%
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%
$555,980
$556.0K
Cap Rate 7%
$397,129
$397.1K
Cap Rate 9%
$308,878
$308.9K
Market Conditions
NOI Build-Up for 2,400 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
$47.5K $19.80/SF
− Vacancy
−$10.5K −$4.36/SF
EGI
$37.1K $15.44/SF
− OpEx
−$9.3K −$3.86/SF
NOI
$27.8K $11.58/SF
Area
Tuscaloosa County, AL
Vacancy
22.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$555,980
Cap Rate 7%
$397,129
Cap Rate 9%
$308,878
Alternative Uses
Best Use
Office B
$397.1K
$347.5K – $463.3K
NOI $27,799 @ 7.0% cap · market cap 3.50%
Second Best
Warehouse
$207.7K
$181.8K – $242.3K
NOI $14,540 @ 7.0% cap · market cap 1.83%
Theoretical Best
Office A
$576.7K
$504.7K – $672.9K
NOI $40,372 @ 7.0% cap · market cap 5.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Well-served
Demand for This Use
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 Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Advanced Mini-Storage — 1786 Harper Rd, Northport, AL 35476
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- K & J Carports & Storage — Northport, AL 35476
- Blue Sky Self Storage - Northport 64th Ave. — 1800 64th Ave, Northport, AL 35476
Frequently Asked Questions
What type of property is this?
Warehouse - A 2,400 SF warehouse with a 1,200 SF office plus excess land for future development on a multi-acre site.
Where is this warehouse located?
The property is located at 612 64th Avenue Northport, AL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 6.70‑acre site with 2,400 SF existing warehouse; Includes 1,200 SF existing office space; Excess land on‑site, ready for future development
