New Flex Building with Drive-Through
For Sale
$400,000
7008 Al Highway 40, Henagar, AL 35978
New wiring, plumbing, office space, and drive-through access support flexible commercial use.
Property Size3,500 SF
Lot Size2.00 Acres
Price / SF$114.29
Days on Market382
Property Features for 7008 Al Highway 40
General Information
Standard status
Active
Size
3,500 SF
Lot size
2.00 Acres
Property subtype
Business Opportunity
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Amenities
remote roll up drive thru doors
additional storage
Building Details
Buildings
1
Building Size
3,500 SF
Listing Agency:
Re/Max Property Center
(256) 458-3739
Listed By:
Annette Wright · License #73341
(256) 458-3739
Source:
Exprealty
Added: Aug 15, 2025
Changed: Aug 29
Last Checked: Aug 31 at 12:38AM
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 Re/Max Property Center
Investment Insights
Based on property information with market context.
This new flex building contains approximately 3,500 square feet on approximately 2 acres, with newly constructed office space integrated into the layout. Remote-operated roll-up drive-through doors provide vehicle access, while a decked area above the offices adds storage capacity. New electrical wiring and plumbing are also in place.
The property fronts Alabama Highway 40 in Henagar, providing exposure along the stated highway frontage. On-site parking is available, and the building includes features suited to commercial operations requiring office, storage, and drive-through functionality. The property is located at 7008 AL Highway 40.
The property fronts Alabama Highway 40 in Henagar, providing exposure along the stated highway frontage. On-site parking is available, and the building includes features suited to commercial operations requiring office, storage, and drive-through functionality. The property is located at 7008 AL Highway 40.
Key Highlights
- Approximately 3,500 square feet on approximately 2 acres
- 350 frontal feet along Alabama Highway 40
- Remote‑operated roll‑up drive‑through doors
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
$29,322
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
7.33%
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%
$586,440
$586.4K
Cap Rate 7%
$418,886
$418.9K
Cap Rate 9%
$325,800
$325.8K
Market Conditions
NOI Build-Up for 3,500 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
$49.1K $14.04/SF
− Vacancy
−$4.0K −$1.15/SF
EGI
$45.1K $12.89/SF
− OpEx
−$15.8K −$4.51/SF
NOI
$29.3K $8.38/SF
Area
DeKalb County, AL
Vacancy
8.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
35.00%
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%
$586,440
Cap Rate 7%
$418,886
Cap Rate 9%
$325,800
Alternative Uses
Best Use
Flex RnD
$418.9K
$366.5K – $488.7K
NOI $29,322 @ 7.0% cap · market cap 7.33%
Second Best
Warehouse
$191.8K
$167.8K – $223.7K
NOI $13,423 @ 7.0% cap · market cap 3.36%
Theoretical Best
Healthcare Medical
$563.9K
$493.4K – $657.8K
NOI $39,470 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35978, AL
5,436
Population
2,305
Households
2.4
Avg Household Size
43
Median Age
9%
College-Educated
83%
High-School Grad
69.4 sq mi
ZIP Area
78
Density / Sq Mi
$52,545
Median Household Income
$35,914
Median Earnings
$747
Median Rent
$123,900
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.
Frequently Asked Questions
What type of property is this?
Flex space - New wiring, plumbing, office space, and drive-through access support flexible commercial use.
Where is this flex space located?
The property is located at 7008 Al Highway 40 Henagar, AL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Approximately 3,500 square feet on approximately 2 acres; 350 frontal feet along Alabama Highway 40; Remote‑operated roll‑up drive‑through doors
