Industrial Flex Space with Roll-Up
For Sale
$799,000
7800 County Road 24, Fairhope, AL 36532
Steel construction, industrial power, and a flexible layout support manufacturing, storage, repair, or showroom operations.
Property Size8,400 SF
Price / SF$95.12
Days on Market41
Property Features for 7800 County Road 24
General Information
Standard status
Active
Size
8,400 SF
Additional Details
Road Access
Yes
Three-Phase Power
Yes
Building Details
Year Built
1999
Buildings
1
Building Size
8,400 SF
Construction
steel frame
Listing Agency:
Bellator RE LLC Orange Beach
(251) 223-1919
Listed By:
Le Bushnell · License #116067
Source:
Coastalalabamahomesforsale
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 29 at 4:29PM
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 Bellator RE LLC Orange Beach
Investment Insights
Based on property information with market context.
This 8,400-square-foot steel building provides a durable commercial layout for flexible industrial or service-oriented operations. Improvements include 3-phase industrial power, a 6-inch reinforced concrete slab, five large roll-up doors, a recently installed roof, new metal siding, and new insulation. Dedicated office space, a studio apartment, and 1.5 baths are also included. The property is currently used as a custom millwork shop, with the existing configuration identified for manufacturing, fabrication, auto or marine repair, warehouse storage, and retail or showroom use.
Located at 7800 County Road 24 in Fairhope, the property has road frontage on County Road 24 and sits across from the planned Point Clear Club development. That project has received conceptual approval from Baldwin County's Planning and Zoning Commission and is planned to include a golf course community, clubhouse, wellness center, restaurant, walking trails, and more than 300 single-family homes. The building was constructed in 1999, and no zoning restrictions are currently in place according to the property information.
Located at 7800 County Road 24 in Fairhope, the property has road frontage on County Road 24 and sits across from the planned Point Clear Club development. That project has received conceptual approval from Baldwin County's Planning and Zoning Commission and is planned to include a golf course community, clubhouse, wellness center, restaurant, walking trails, and more than 300 single-family homes. The building was constructed in 1999, and no zoning restrictions are currently in place according to the property information.
Key Highlights
- 8,400 sq ft steel commercial building constructed in 1999
- 3‑phase industrial power with a 6" reinforced concrete slab
- Five large roll‑up doors for industrial and service use
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
$53,019
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
6.64%
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%
$1,060,380
$1.1M
Cap Rate 7%
$757,414
$757.4K
Cap Rate 9%
$589,100
$589.1K
Market Conditions
NOI Build-Up for 8,400 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
$65.5K $7.80/SF
− Vacancy
−$3.1K −$0.37/SF
EGI
$62.4K $7.43/SF
− OpEx
−$9.4K −$1.11/SF
NOI
$53.0K $6.31/SF
Area
Baldwin County, AL
Vacancy
4.80%
Lease Rate
$7.80 /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%
$1,060,380
Cap Rate 7%
$757,414
Cap Rate 9%
$589,100
Alternative Uses
Best Use
Warehouse
$757.4K
$662.7K – $883.7K
NOI $53,019 @ 7.0% cap · market cap 6.64%
Second Best
Flex RnD
$710.8K
$622.0K – $829.3K
NOI $49,759 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,402 @ 7.0% cap · market cap 17.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36532, AL
36,918
Population
17,502
Households
2.1
Avg Household Size
48
Median Age
50%
College-Educated
94%
High-School Grad
73.2 sq mi
ZIP Area
504
Density / Sq Mi
$86,026
Median Household Income
$46,129
Median Earnings
$1,374
Median Rent
$395,300
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?
Flex space - Steel construction, industrial power, and a flexible layout support manufacturing, storage, repair, or showroom operations.
Where is this flex space located?
The property is located at 7800 County Road 24 Fairhope, AL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 8,400 sq ft steel commercial building constructed in 1999; 3‑phase industrial power with a 6" reinforced concrete slab; Five large roll‑up doors for industrial and service use
