Flex Space with Rear
For Sale
Contact for pricing
9112 Hard Dr, Foley, AL 36535
Flex space with a rear warehouse, two roll-up doors, and a 2024-installed AC system.
Property Size7,000 SF
Lot Size0.51 Acres
Price / SF$110.71
Days on Market53
Property Features for 9112 Hard Dr
General Information
Standard status
Active
Size
7,000 SF
Lot size
0.51 Acres
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
4,620 SF
Three-Phase Power
Yes
Additional Details
Asking Price
$775,000
Amenities
full kitchen
private bath with shower
Building Details
Buildings
1
Stories
2
Building Size
7,000 SF
Listing Agency:
Crye Leike
(251) 405-2608
Listed By:
Lydia Franz Thomsen · License #71136
(251) 978-6160
Source:
Moodyscre
Added: Jul 24
Changed: Sep 5
Last Checked: Sep 13 at 9:42AM
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 Crye Leike
Investment Insights
Based on property information with market context.
This flex-space property at 9112 Hard Dr totals approximately 7,000 SF, with about 6,000 SF on the ground floor and a 1,000 SF upstairs suite. The layout includes a polished front office/showroom, a private office, and a flexible mezzanine workspace. The rear warehouse is approximately 4,620 SF and features two oversized roll-up doors, 16' clear eave height, high-bay LED lighting, and 3-phase power with five 220V outlets.
The upstairs suite includes a full kitchen and a private bath with shower, supporting a live/work configuration, employee accommodations, break-area use, or additional office space. A new AC system was installed in 2024. Outside, the property is situated on 0.51 acres with a large concrete parking area and a professional brick façade.
The site is listed as un-zoned with no covenants or restrictions, which may support a range of uses such as retail, production, storage, and distribution.
The upstairs suite includes a full kitchen and a private bath with shower, supporting a live/work configuration, employee accommodations, break-area use, or additional office space. A new AC system was installed in 2024. Outside, the property is situated on 0.51 acres with a large concrete parking area and a professional brick façade.
The site is listed as un-zoned with no covenants or restrictions, which may support a range of uses such as retail, production, storage, and distribution.
Key Highlights
- Approximately 7,000 SF flex‑space building with 6,000 SF ground floor and 1,000 SF upstairs suite
- Rear warehouse is approximately 4,620 SF with two oversized roll‑up doors
- 16' clear eave height plus high‑bay LED lighting in the rear warehouse
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
$64,851
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
8.37%
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%
$1,297,020
$1.3M
Cap Rate 7%
$926,443
$926.4K
Cap Rate 9%
$720,567
$720.6K
Market Conditions
NOI Build-Up for 7,000 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
$113.4K $16.20/SF
− Vacancy
−$9.6K −$1.38/SF
EGI
$103.8K $14.82/SF
− OpEx
−$38.9K −$5.56/SF
NOI
$64.9K $9.26/SF
Area
Baldwin County, AL
Vacancy
8.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
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%
$1,297,020
Cap Rate 7%
$926,443
Cap Rate 9%
$720,567
Alternative Uses
Best Use
Office B
$1.17M
$1.02M – $1.36M
NOI $81,648 @ 7.0% cap · market cap 10.54%
Second Best
Mixed Use
$926.4K
$810.6K – $1.08M
NOI $64,851 @ 7.0% cap · market cap 8.37%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,835 @ 7.0% cap · market cap 15.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
16 ft
Clear height
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36535, AL
35,484
Population
18,755
Households
1.9
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
92.5 sq mi
ZIP Area
384
Density / Sq Mi
$67,013
Median Household Income
$41,574
Median Earnings
$1,168
Median Rent
$250,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with a rear warehouse, two roll-up doors, and a 2024-installed AC system.
Where is this flex space located?
The property is located at 9112 Hard Dr Foley, AL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Approximately 7,000 SF flex‑space building with 6,000 SF ground floor and 1,000 SF upstairs suite; Rear warehouse is approximately 4,620 SF with two oversized roll‑up doors; 16' clear eave height plus high‑bay LED lighting in the rear warehouse
