Flex Space with Rear
For Sale
Contact for pricing
9112 HARD DR, Foley, AL 36535
Versatile commercial layout combines office, showroom, mezzanine, warehouse, and an upstairs suite with kitchen and private bath.
Property Size7,000 SF
Lot Size0.51 Acres
Price / SF$129.17
Days on Market57
Property Features for 9112 HARD DR
General Information
Standard status
Active
Size
7,000 SF
Class
B
Total Parking Spaces
20
Lot size
0.51 Acres
Property subtype
Retail
Zoning
Un-Zoned
Investment Type
Owner/User
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
4,620 SF
Three-Phase Power
Yes
Additional Details
Asking Price
$775,000
Building Details
Year Built
2006
Buildings
1
Stories
1
Units
1
Tenancy
Single
Building Size
7,000 SF
Listing Agency:
Crye* Leike Gulf Coast
Listed By:
Lydia Franz Thomsen · License #AL 71136
(251) 978-6160
Source:
Crexi
Added: Jul 24
Changed: Sep 10
Last Checked: Sep 18 at 6:46AM
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 Gulf Coast
Investment Insights
Based on property information with market context.
Located at 9112 Hard Dr in Foley, this flex property combines a polished front office and showroom with a private office, mezzanine workspace, and a 4,620-square-foot rear warehouse. The warehouse includes two oversized roll-up doors, a 16-foot clear eave height, high-bay LED lighting, and three-phase power with five 220V outlets. An upstairs suite adds a full kitchen and private bath with shower, while a new AC system installed in 2024 supports the office and suite areas.
The property occupies 0.51 acres and includes a professional brick façade and a large concrete parking area. It is un-zoned and has no covenants or restrictions, with the source information identifying potential applications including retail, production, storage, and distribution. The building was constructed in 2006.
The property occupies 0.51 acres and includes a professional brick façade and a large concrete parking area. It is un-zoned and has no covenants or restrictions, with the source information identifying potential applications including retail, production, storage, and distribution. The building was constructed in 2006.
Key Highlights
- 4,620 SF rear warehouse with two oversized roll‑up doors
- 16' clear eave height and high‑bay LED lighting
- 3‑phase power with five 220V outlets
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
$69,984
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
9.03%
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%
$1,399,680
$1.4M
Cap Rate 7%
$999,771
$999.8K
Cap Rate 9%
$777,600
$777.6K
Market Conditions
NOI Build-Up for 6,000 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
$115.2K $19.20/SF
− Vacancy
−$21.9K −$3.65/SF
EGI
$93.3K $15.55/SF
− OpEx
−$23.3K −$3.89/SF
NOI
$70.0K $11.66/SF
Area
Baldwin County, AL
Vacancy
19.00%
Lease Rate
$19.20 /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%
$1,399,680
Cap Rate 7%
$999,771
Cap Rate 9%
$777,600
Alternative Uses
Best Use
Office B
$999.8K
$874.8K – $1.17M
NOI $69,984 @ 7.0% cap · market cap 9.03%
Second Best
Retail
$922.3K
$807.0K – $1.08M
NOI $64,562 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,002 @ 7.0% cap · market cap 13.03%
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 - Versatile commercial layout combines office, showroom, mezzanine, warehouse, and an upstairs suite with kitchen and private bath.
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: 4,620 SF rear warehouse with two oversized roll‑up doors; 16' clear eave height and high‑bay LED lighting; 3‑phase power with five 220V outlets
