Retail Car Lot with B-3
For Sale
Contact for pricing
110 Schillinger Rd S, Mobile, AL 36608
Large car lot near Schillinger Road with B-3 zoning for flexible repurposing or redevelopment.
Property Size5,000 SF
Lot Size2.58 Acres
Price / SF$330
Days on Market141
Property Features for 110 Schillinger Rd S
General Information
Standard status
Active
Size
5,000 SF
Lot size
2.58 Acres
Property subtype
Retail
Zoning
B-3
Site & Location
Traffic Count
31,691 vehicles/day
Outdoor Storage
Yes
Building Details
Year Built
1989
Listing Agency:
Vallas Realty
(251) 344-1444
Listed By:
Robert Cook · License #AL 000083873
Source:
Crexi
Added: Apr 1
Changed: Aug 17
Last Checked: Aug 17 at 11:05AM
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 Vallas Realty
Investment Insights
Based on property information with market context.
This property for sale includes a large car lot and a building on a combined 2.58 acres. It is positioned on heavily traveled Schillinger Road, with ALDOT reporting 31,691 cars per day as of 2024.
The site is approximately 0.3 miles from the signalized intersection of Airport Boulevard and Schillinger Road South. With B-3 zoning, the property may be repurposed or redeveloped for a variety of uses, subject to applicable approvals and requirements.
The listing is centered on the existing car lot configuration and the flexibility provided by the site’s zoning designation.
The site is approximately 0.3 miles from the signalized intersection of Airport Boulevard and Schillinger Road South. With B-3 zoning, the property may be repurposed or redeveloped for a variety of uses, subject to applicable approvals and requirements.
The listing is centered on the existing car lot configuration and the flexibility provided by the site’s zoning designation.
Key Highlights
- Large car lot on heavily traveled Schillinger Road in West Mobile (31,691 cars per day, per ALDOT as of 2024).
- Located about 0.3 miles from the signalized intersection of Airport Boulevard and Schillinger Road South.
- Building on a combined 2.58‑acre site.
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
$66,182
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
4.01%
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%
$1,323,640
$1.3M
Cap Rate 7%
$945,457
$945.5K
Cap Rate 9%
$735,356
$735.4K
Market Conditions
NOI Build-Up for 5,000 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
$99.0K $19.80/SF
− Vacancy
−$4.5K −$0.89/SF
EGI
$94.5K $18.91/SF
− OpEx
−$28.4K −$5.67/SF
NOI
$66.2K $13.24/SF
Area
Mobile, AL
Vacancy
4.50%
Lease Rate
$19.80 /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%
$1,323,640
Cap Rate 7%
$945,457
Cap Rate 9%
$735,356
Alternative Uses
Best Use
Retail
$945.5K
$827.3K – $1.10M
NOI $66,182 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,958 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
31,691 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
460
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36608, AL
39,782
Population
17,690
Households
2.2
Avg Household Size
34
Median Age
42%
College-Educated
93%
High-School Grad
65.1 sq mi
ZIP Area
611
Density / Sq Mi
$64,372
Median Household Income
$37,530
Median Earnings
$1,045
Median Rent
$234,400
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.
Similar Off Market Nearby
- Floor & Decor — 312 Schillinger Rd S, Mobile, AL 36608
- Handyman Connection of Mobile — 207 Tanner Williams Ct suite e, Mobile, AL 36608
- Lowe's Home Improvement — 7760 Airport Blvd, Mobile, AL 36608
- At Home — 312 Schillinger Rd, Mobile, AL 36608
Frequently Asked Questions
What type of property is this?
Showroom - Large car lot near Schillinger Road with B-3 zoning for flexible repurposing or redevelopment.
Where is this showroom located?
The property is located at 110 Schillinger Rd S Mobile, AL.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Large car lot on heavily traveled Schillinger Road in West Mobile (31,691 cars per day, per ALDOT as of 2024).; Located about 0.3 miles from the signalized intersection of Airport Boulevard and Schillinger Road South.; Building on a combined 2.58‑acre site.
