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Building Details

Year Built 1990

Construction metal building

Listing Agency: Keller Williams AGC Realty-Daphne

Listed By: Keara Hunter PHONE · License #121337 Show Phone

Source: Loweralabamahomestore

Added: Jul 9 Changed: Oct 1 Last Checked: Oct 14 at 11:43PM

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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 Keller Williams AGC Realty-Daphne

Investment Insights

Based on property information with market context.

This flex property includes a 6,000+ square foot metal building on 3.04 acres, along with an additional building and a rear lean-to. The main structure includes attached warehouse space with roll-up doors, six existing bedrooms that may serve as office areas, and an open shell interior without load-bearing walls. A new roof was installed on the shop in 2024.

The property provides 200 feet of frontage along Highway 31, which has been expanded to a four-lane road. Approximately 1.5 acres behind the building offers additional space within the site. The property is located within county limits and includes a turn lane serving access to the business.

Key Highlights

• 3.04‑acre property with 6,000+ square foot metal building
• 200 feet of frontage on Highway 31
• Attached warehouse with roll‑up doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,871

Cap Rate

3.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$757,420 $757.4K

Cap Rate 7%

$541,014 $541.0K

Cap Rate 9%

$420,789 $420.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,000 SF

Gross rent

$46.8K $7.80/SF

− Vacancy

−$2.2K −$0.37/SF

EGI

$44.6K $7.43/SF

− OpEx

−$6.7K −$1.11/SF

NOI

$37.9K $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 Rate 5%

$757,420

Cap Rate 7%

$541,014

Cap Rate 9%

$420,789

Alternative Uses

Best Use

Warehouse

$541.0K

$473.4K – $631.2K (±1% cap)

NOI $37,871 @ 7.0% cap · market cap 3.16%

Second Best

Flex RnD

$507.7K

$444.3K – $592.4K (±1% cap)

NOI $35,542 @ 7.0% cap · market cap 2.96%

Theoretical Best

Office A

$1.44M

$1.26M – $1.68M (±1% cap)

NOI $101,002 @ 7.0% cap · market cap 8.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store HVAC Service Bakery Kitchen & Bath Showroom Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

393

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 36527, AL

18,034

Population

7,621

Households

2.4

Avg Household Size

39

Median Age

43%

College-Educated

97%

High-School Grad

42.3 sq mi

ZIP Area

426

Density / Sq Mi

$112,672

Median Household Income

$51,337

Median Earnings

$1,373

Median Rent

$348,200

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Adaptable commercial facility with attached warehouse space, multiple outbuildings, and reconfigurable interior areas.

Where is this flex space located?

The property is located at 9727 Spanish Fort Blvd Spanish Fort, AL.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: 3.04‑acre property with 6,000+ square foot metal building; 200 feet of frontage on Highway 31; Attached warehouse with roll‑up doors