Car Wash on High-Traffic
For Sale
Contact for pricing
Pending
1066 Hillcrest Rd, Mobile, AL 36695
Specialty car wash property with redevelopment potential in West Mobile.
Property Size5,800 SF
Days on Market200
Property Features for 1066 Hillcrest Rd
General Information
Standard status
Pending
Size
5,800 SF
Property subtype
Special Purpose
Building Details
Year Built
1993
Buildings
1
Stories
1
Listing Agency:
FMIG
(850) 889-2571
Listed By:
Faith Morgan · License #Alabama 000162267
Source:
Crexi
Added: Feb 10
Changed: Aug 27
Last Checked: Aug 28 at 5:40PM
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 FMIG
Investment Insights
Based on property information with market context.
This specialty property is a car wash strategically located along the high-traffic Hillcrest Road corridor in West Mobile, offering excellent visibility and strong daily traffic counts. It is ideally positioned to serve the surrounding dense residential neighborhoods, retail centers, and service-oriented businesses. The property is located within a 5-mile drive to Mobile Regional Airport and has convenient access to major thoroughfares and West Mobile’s key commercial corridors. It is surrounded by strong demographics and steady commercial demand. The property is suitable for owner-operators or investors seeking a specialty asset with long-term upside. It can continue as a car wash operation, be repositioned for redevelopment, or serve as a stable income-generating investment. Nearby commercial and retail include Hill Crest Retail Center, Hillcrest Center, Stewart Title of Alabama, LLC - Mobile, Pilot Catastrophe Services Inc, Truist, and Prometric Test Center. This offering presents a rare opportunity to acquire a well-located specialty property in a proven West Mobile submarket with excellent visibility, traffic, and long-term investment potential. The property size is 5800 square feet.
Key Highlights
- High‑traffic location on Hillcrest Road with excellent visibility.
- Strong local trade area with growing residential and commercial support.
- Flexible use potential: continue as car wash or redevelop.
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
$87,696
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
7.97%
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%
$1,753,920
$1.8M
Cap Rate 7%
$1,252,800
$1.3M
Cap Rate 9%
$974,400
$974.4K
Market Conditions
NOI Build-Up for 5,800 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
$121.8K $21.00/SF
− Vacancy
−$4.9K −$0.84/SF
EGI
$116.9K $20.16/SF
− OpEx
−$29.2K −$5.04/SF
NOI
$87.7K $15.12/SF
Area
Mobile, AL
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,753,920
Cap Rate 7%
$1,252,800
Cap Rate 9%
$974,400
Alternative Uses
Best Use
Specialty Retail
$1.25M
$1.10M – $1.46M
NOI $87,696 @ 7.0% cap · market cap 7.97%
Second Best
Retail
$1.10M
$959.6K – $1.28M
NOI $76,771 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,192 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,011
Businesses Nearby
Explore this area
Business Placement
Demographics for 36695, AL
51,174
Population
21,269
Households
2.4
Avg Household Size
38
Median Age
34%
College-Educated
95%
High-School Grad
45.6 sq mi
ZIP Area
1,122
Density / Sq Mi
$75,236
Median Household Income
$47,614
Median Earnings
$1,192
Median Rent
$234,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Specialty car wash property with redevelopment potential in West Mobile.
Where is this car wash located?
The property is located at 1066 Hillcrest Rd Mobile, AL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: High‑traffic location on Hillcrest Road with excellent visibility.; Strong local trade area with growing residential and commercial support.; Flexible use potential: continue as car wash or redevelop.
