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    10 Springdale Blvd Mobile, AL 36606

    Sponsored
    Source: https://www.saltercompany.com
    For Sale
    $1,500,000

    Prime I-65 location, 20,069 SF, high-income potential.

    Property size:
    37,952 SF

    Description

    Added:
    Feb 13, 2025
    Days on Market:
    340
    This exceptional property, located at 10 Springdale Blvd, Mobile, AL 36606, offers a unique blend of warehouse and retail space, ideally situated less than a mile from the I-65 Springhill exit. The two-story building, constructed with durable tilt-up concrete panels and a reinforced concrete slab, boasts a total of 20,069 square feet. The first floor encompasses approximately 19,000 square feet and includes versatile areas such as offices, a cooler room, a commercial kitchen, sales and display areas, and a substantial warehouse space. The warehouse features a 26-foot eave height and three truck loading docks with ground-level doors conveniently located on the building's south side, providing easy access to the I-65 service road. A large cooler (29,700 cubic feet, +35°), measuring 29.79' x 49.91' x 20', is also included. The second floor offers 1,069 square feet of heated and cooled space, perfect for additional office space or even an apartment, featuring a bedroom, restroom, and conference room. A 4,013 square foot mezzanine provides ample storage, accessible via interior steel stairways. A significant addition to the property includes three commissary kitchens totaling 2,115 square feet, currently leased to local food trucks, generating an average annual gross income of $72,000. The property sits on 1.01 acres and is priced at $1,500,000. This property is perfect for a variety of uses and presents a compelling investment opportunity.

    Property Features for 10 Springdale Blvd

    General Information

    Property type
    Warehouses
    Square Feet
    37,952 SF
    Price / Square Foot
    $39
    Elevators
    N/A
    Lot Size
    44,161 SF

    Building Details

    Year Built/Renovated
    1993/1998
    Buildings
    1
    Stories
    2
    Units
    14

    We can help!

    Listing Contact
    Paul Salter

    Learn more

    Property Insight Report

    HighLights

    • 20,069 square foot building, featuring warehouse and retail space, ideal for various uses.
    • Convenient location less than one mile from I‑65 Springhill exit in Mobile, Alabama.
    • Includes three commissary kitchens generating $72,000 annual gross income.
    Location Intelligence

    Current Use by Public Records

    Tony's Tejas Salsa Food Manufacturer Foxco Packing Food Manufacturer Wild Magnolia Kombucha Beverage Distributor Tanners Pecans & Candies Candy Store Chop Sugar Service Establishment

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    State
    Alabama
    Longitude
    -88.123913
    Latitude
    30.687562

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    FAQs

    What type of property is this?
    Warehouse - Prime I-65 location, 20,069 SF, high-income potential.
    Where is this warehouse located?
    The property is located at 10 Springdale Blvd Mobile, AL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 20,069 square foot building, featuring warehouse and retail space, ideal for various uses.; Convenient location less than one mile from I-65 Springhill exit in Mobile, Alabama.; Includes three commissary kitchens generating $72,000 annual gross income.
    (850) 564-0120
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    10 Springdale Blvd Mobile, AL 36606
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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
    10 Springdale Blvd Mobile, AL 36606
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    We can help!
    Listing Contact
    Paul Salter
    (850) 564-0120
    Learn more
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