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    5441 US-90 Mobile, AL 36619

    Sponsored
    Source: https://www.saltercompany.com
    For Lease
    $16 SF/Yr ($1,096 /Mo)

    Prime 800 sq ft retail space in thriving Tillman's Square.

    Lot size:
    800 SF

    Description

    Added:
    Mar 3, 2025
    Days on Market:
    333
    This 800-square-foot retail space, located on the first floor, Suite 24, of Tillman's Square Shopping Center in Mobile, Alabama, presents a fantastic opportunity. Situated at 5441 US-90, this property is part of a 103,273-square-foot shopping center developed in 1986. The center boasts a strong tenant mix, including a major anchor tenant (Elegant Furniture, occupying 43,619 sq ft), a junior anchor (8,450 sq ft, charity bingo), the U.S. Postal Service, Rent-A-Center, and Mobile Police Department Precinct Two. The presence of the Mobile Police Department, with a 15-year lease initiated in 2017 and occupying 9,384 sq ft, ensures 24/7 security. Tillman's Square benefits from a high-traffic location in a vibrant retail corridor between two I-10 interchanges, with easy access via a signalized intersection to Highway 90. Daily traffic counts on Highway 90 reach 29,240 vehicles. The center's proximity to a Walmart Supercenter, Lowe's, a new Veteran's Administration facility, diverse restaurants, hotels, banks, and other retail establishments further enhances its appeal. Tillman's Square serves as a key retail hub for south and southwest Mobile County and westbound I-10 travelers. The space is available on a NNN lease with a monthly rate of $16.45 per square foot. The property was previously occupied by Tillman's Corner Nutrition.

    Property Features for 5441 US-90

    General Information

    Property type
    Other retail properties
    Lease Type
    NNN
    RSF (Rentable sq. ft)
    800 SF
    USF (Usable sq. ft)
    800 SF
    Total Parking Spaces
    350
    Elevators
    N/A
    Total Rate
    1096.67

    Building Details

    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Paul Salter

    Learn more

    HighLights

    • 800 sq ft retail space in Mobile, AL's Tillman's Square shopping center.
    • High‑traffic location on US‑90 with 29,240 vehicles daily.
    • Secure environment with 24/7 police presence on‑site.
    Location Intelligence

    Current Use by Public Records

    Retail properties

    Map

    City
    Mobile
    State
    Alabama
    Longitude
    -87.904155
    Latitude
    30.536454

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    FAQs

    What type of property is this?
    Other retail property - Prime 800 sq ft retail space in thriving Tillman's Square.
    Where is this other retail property located?
    The property is located at 5441 US-90 Mobile, AL.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: 800 sq ft retail space in Mobile, AL's Tillman's Square shopping center.; High-traffic location on US-90 with 29,240 vehicles daily.; Secure environment with 24/7 police presence on-site.
    (251) 438-4312
    Request Owner's contact information
    5441 US-90 Mobile, AL 36619
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    Mobile, AL 36619
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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
    5441 US-90 Mobile, AL 36619
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    We can help!
    Listing Contact
    Paul Salter
    (251) 438-4312
    Learn more
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