Prime medical office building, 5,056 SF, excellent location.
Property size:
5,056 SF
Description
Added:
Feb 5, 2025
Days on Market:
347
This well-maintained, free-standing medical office building, totaling approximately 5,056 square feet, is available for sale in West Mobile, Alabama. Situated on a prominent corner lot at 1605 Hillcrest Road, the property boasts approximately 150 feet of frontage on Hillcrest Road and 240 feet on Pointe West Road, ensuring high visibility. The convenient location, just south of the intersection of Hillcrest and Grelot Roads, places it near numerous amenities including Winn-Dixie, Starbucks, McDonald's, CVS, and Waffle House. Hillcrest Road sees significant traffic, with 24,538 vehicles per day (2022 data). The building features ample parking with 45 spaces. The first floor encompasses approximately 4,261 square feet and includes two exam rooms, a reception area, a finance office, three doctors' offices, two treatment areas, wet and dry lab areas, an imaging room, a dark room, a records room, a sterilization room, two doctors' restrooms, two public restrooms, and a waiting room. The second floor, approximately 750 square feet, offers a conference room, break room, supply storage/file room, and an additional restroom. The property is zoned B3 - Community Business, offering flexibility for various uses. The 0.83-acre lot provides ample space and the full median cut on Hillcrest Road ensures easy access. This is a turnkey opportunity for medical professionals or investors seeking a well-established property in a high-traffic area.
Property Features for 1605 Hillcrest Rd
General Information
Property type
Other office properties
Square Feet
5,056 SF
Price / Square Foot
$216
Class
C
Elevators
N/A
Lot Size
36,198 SF
Building Details
Year Built/Renovated
1997/2003
Buildings
1
Stories
1
Units
25
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Listing Contact
Paul Salter
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Property Insight Report
HighLights
Prime West Mobile location with high daily traffic counts on Hillcrest Road.
5,056 sq ft building features 25 units, ample parking, and versatile zoning.
Well‑maintained medical office building with two floors and various specialized rooms.
Location Intelligence
Current Use by Public Records
Dr. John R. ...OrthodontistRosalyn Salter DMDOrthodontistHillcrest Orthodontics, P.C.Orthodontist
Suggested Use
Law FirmRestaurantRealty agencySpa & MassageHair SalonDental OfficeClothing StoreNail SalonFood MarketGrocery Store
Zoning and permitted uses should be independently verified with local authorities.
Location Insight
Map
Local Demand
City
Mobile
State
Alabama
Longitude
-88.190092
Latitude
30.657755
Nearby Similar for Sale
$1,249,000
0.03 Acres
Renovated Mixed-Use Downtown Mobile Property
Renovated mixed-use property in Mobile's central business district.
Office property - Prime medical office building, 5,056 SF, excellent location.
Where is this office property located?
The property is located at 1605 Hillcrest Rd Mobile, AL.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Prime West Mobile location with high daily traffic counts on Hillcrest Road.; 5,056 sq ft building features 25 units, ample parking, and versatile zoning.; Well-maintained medical office building with two floors and various specialized rooms.
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1605 Hillcrest Rd Mobile, AL 36609
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Realmo Value Estimations
Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods.
Disclaimer
These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.
AI approach
Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.
Realmo CapRate Calculation
Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.
How We Calculate Cap Rate
Cap Rate Formula: Cap Rate (%) = (Net Operating Income / Property Value) × 100
Net Operating Income (NOI) Formula: NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)
Components
Net Operating Income (NOI) represents the annual income a property generates after operating expenses:
Area: Building square footage from property records
Lease Rate: Annual $/sqft based on market data for the property type and geographic location
Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
Operating Expense Ratio: Operating costs as a percentage of income, varies by property type
Property Value is derived from:
Recent sale price (if available)
Statistical models using comparable sales
AI-powered valuation estimates
Example Calculation
For a 100,000 sqft Office Building:
Lease Rate: $25.00/sqft/year (market data for Office in this area)
Vacancy Rate: 8% (market data for Office in this area)
Operating Expense Ratio: 35% (typical for Office properties)
Property Value: $15,000,000
Step 1: Calculate NOI
NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35) NOI = 100,000 × $25.00 × 0.92 × 0.65 NOI = $1,495,000/year
Step 2: Calculate Cap Rate
Cap Rate = ($1,495,000 / $15,000,000) × 100 Cap Rate = 9.97%
Property Type Considerations
Net Operating Income calculations vary by property type due to different operating expense ratios:
Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
Retail: Moderate expenses (25-35%) for common area maintenance
Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
Multifamily: Moderate expenses (35-45%) including property management
Self-Storage: Lower expenses (25-35%) due to minimal maintenance
Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.
Disclaimer
These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.
Cap Rate calculations depend on market data that may change over time
Actual operating expenses, lease rates, and vacancy rates may differ from market averages
Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
Property value estimates are approximations and not official appraisals
Cap rates vary widely by market, property condition, and investment risk profile
Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.
Cap approach
Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
Relative
Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
Geo
Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Stat Estimate
This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.
Ranges - area data calculated by industry standard IQR Outlier Removal Method
Range-from: 75% of all similar sales ($/sqft) are above this value
Range-to: 75% of all similar sales ($/sqft) are below this value
AI Estimate
This method estimates value based on AI market estimation of comparable properties around by location and property type.
Ranges - area data calculated by industry standard IQR Outlier Removal Method
Range-from: 75% of all estimations ($/sqft) are above this value
Range-to: 75% of all estimations ($/sqft) are below this value
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
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1605 Hillcrest Rd Mobile, AL 36609
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