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    1605 Hillcrest Rd Mobile, AL 36609

    Sponsored
    Source: https://www.saltercompany.com
    For Sale
    $1,095,000

    Prime medical office building, 5,056 SF, excellent location.

    Property size:
    5,056 SF

    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

    Overview

    West Mobile Medical Office Building

    Located in West Mobile, Alabama, this free-standing medical office building offers approximately 5,056 square feet of space. Situated on a corner lot at 1605 Hillcrest Road, the property features approximately 150 feet of frontage on Hillcrest Road and 240 feet on Pointe West Road. The location is south of the intersection of Hillcrest and Grelot Roads, near amenities such as Winn-Dixie, Starbucks, McDonald's, CVS, and Waffle House. Hillcrest Road experiences a traffic volume of 24,538 vehicles per day based on 2022 data. The building provides 45 parking spaces. The first floor, encompassing approximately 4,261 square feet, 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, features a conference room, break room, supply storage/file room, and an additional restroom. The property is zoned B3 - Community Business, and the 0.83-acre lot includes a full median cut on Hillcrest Road for accessibility. The building features 25 units.

    We can help!

    Listing Contact
    Paul Salter

    Learn more

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. John R. ... Dental Office Rosalyn Salter DMD Dental Office Hillcrest Orthodontics, P.C. Dental Office

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    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

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    FAQs

    What type of property is this?
    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.
    (850) 564-0120
    Request Owner's contact information
    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.

    More about this property
    1605 Hillcrest Rd Mobile, AL 36609
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    We can help!
    Listing Contact
    Paul Salter
    (850) 564-0120
    Learn more
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