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Building Details

Buildings 1

Stories 1

Listed By: Paul Salter Show Phone

Added: Feb 20, 2025 Changed: Mar 16

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Investment Insights

Based on property information with market context.

Located at 9745 Spanish Fort Blvd in Spanish Fort, Alabama, this 6,624 square foot commercial property offers a unique investment opportunity. Situated on a 1.5-acre lot within Baldwin County, the property benefits from a B-2 zoning designation, making it suitable for various commercial ventures. The building, previously a residence, features 6 large rooms that can be adapted into offices or other commercial spaces. An attached warehouse with a roll-up door provides space for storage or specialized operations. The property's location on heavily trafficked Highway 31, enhanced by a dedicated turn lane, ensures visibility and accessibility for customers. The 1.5-acre lot allows for future expansion within the B-2 zoning regulations. The usable net space is 6,134 square feet.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$71,277

Cap Rate

5.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,425,540 $1.4M

Cap Rate 7%

$1,018,243 $1.0M

Cap Rate 9%

$791,967 $792.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,624 SF

Gross rent

$111.3K $16.80/SF

− Vacancy

−$9.5K −$1.43/SF

EGI

$101.8K $15.37/SF

− OpEx

−$30.5K −$4.61/SF

NOI

$71.3K $10.76/SF

Area

Baldwin County, AL

Vacancy

8.50%

Lease Rate

$16.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,425,540

Cap Rate 7%

$1,018,243

Cap Rate 9%

$791,967

Alternative Uses

Best Use

Retail

$1.02M

$891.0K – $1.19M (±1% cap)

NOI $71,277 @ 7.0% cap · market cap 5.94%

Second Best

Warehouse

$597.3K

$522.6K – $696.8K (±1% cap)

NOI $41,809 @ 7.0% cap · market cap 3.48%

Theoretical Best

Office A

$1.59M

$1.39M – $1.86M (±1% cap)

NOI $111,506 @ 7.0% cap · market cap 9.29%

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

Property Analytics

Current Use

Retail properties & Spaces

Suggested Use

Top Pick Storage Facility (Bike/Boat/Book/etc) Store Discount Store Bed & Breakfast Hotel & Motel Department Store

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

Location Intelligence

Trade Area within ½ mile

12

Businesses Nearby

Well-served

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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Similar Off Market Nearby

• Safe Harbour Mini Storage — 31756 Buzbee Rd, Spanish Fort, AL 36527

Frequently Asked Questions

What type of property is this?

Warehouse - 6,000 SF Retail For Sale - 9727 Spanish Fort Blvd

Where is this warehouse located?

The property is located at 9745 Spanish Fort Blvd Spanish Fort, AL.

What is the asking price?

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