Retail Building Near Downtown
For Sale
$799,900
1053 S Broad St, Mobile, AL 36603
Retail building near downtown Mobile with frontage on South Broad.
Property Size8,000 SF
Price / SF$99.99
Days on Market114
Property Features for 1053 S Broad St
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Street Retail
Building Details
Building Size
8,000 SF
Year Built
1963
Listing Agency:
WHITE-SPUNNER REALTY, INC.
Listed By:
Jamie Ison
(251) 454-2327
Source:
Thebrokerlist
Added: May 14
Changed: Aug 23
Last Checked: Aug 18 at 7:52AM
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 WHITE-SPUNNER REALTY, INC.
Investment Insights
Based on property information with market context.
This approximately 8,000 square foot retail building is located close to downtown Mobile, with frontage on South Broad Street. The property is less than half a mile from the entrance to I-10 and less than 10 minutes from downtown Mobile. It has most recently been occupied as an automotive retail/consignment dealership.
Key Highlights
- High‑traffic location with frontage on South Broad Street.
- Less than half a mile from I‑10 entrance.
- Less than 10 minutes from downtown Mobile.
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
$37,578
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
4.70%
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%
$751,560
$751.6K
Cap Rate 7%
$536,829
$536.8K
Cap Rate 9%
$417,533
$417.5K
Market Conditions
NOI Build-Up for 8,000 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
$57.6K $7.20/SF
− Vacancy
−$3.9K −$0.49/SF
EGI
$53.7K $6.71/SF
− OpEx
−$16.1K −$2.01/SF
NOI
$37.6K $4.70/SF
Area
Mobile, AL
Vacancy
6.80%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
30.00%
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%
$751,560
Cap Rate 7%
$536,829
Cap Rate 9%
$417,533
Alternative Uses
Best Use
Retail
$1.51M
$1.32M – $1.76M
NOI $105,890 @ 7.0% cap · market cap 13.24%
Second Best
Industrial
$536.8K
$469.7K – $626.3K
NOI $37,578 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,333 @ 7.0% cap · market cap 17.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36603, AL
8,184
Population
3,880
Households
2.1
Avg Household Size
38
Median Age
12%
College-Educated
79%
High-School Grad
3.8 sq mi
ZIP Area
2,154
Density / Sq Mi
$27,083
Median Household Income
$24,688
Median Earnings
$704
Median Rent
$107,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Automotive property - Retail building near downtown Mobile with frontage on South Broad.
Where is this automotive property located?
The property is located at 1053 S Broad St Mobile, AL.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: High‑traffic location with frontage on South Broad Street.; Less than half a mile from I‑10 entrance.; Less than 10 minutes from downtown Mobile.
