Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2502 Schillinger Rd S Mobile, AL 36695

    View on Map
    Picture of Other land at 2502 Schillinger Rd S, Mobile, AL
    For Lease
    $3 SF/Yr

    10,000 SF Schillinger Place Shopping Center - Land For Lease

    Added:
    Mar 10, 2025
    Days on Market:
    409
    Last Refresh:
    Mar 16 at 9:05 am

    Property Features for 2502 Schillinger Rd S

    General Information

    Standard status
    Active
    Property type
    Other land, Industrial land, Commercial land, Land
    Elevators
    N/A
    Rate Type
    Yearly

    We can help!

    Listing Contact
    Paul Salter

    Listing agent Paul License #FL BK3105171

    Listing office Salter Commercial, LLC

    Listing date Mar 10, 2025

    Overview

    Prime Land in Mobile, AL

    This 10,000 square foot commercial land parcel is located at the southwest corner of Schillinger Road South and Cottage Hill Road in Mobile, Alabama, zip code 36695. The property is situated within a thriving neighborhood shopping center, offering visibility and accessibility. The site is positioned to the north, directly abutting the existing center, anchored by CLUB4 Fitness. Three entrances provide access from both Schillinger Road and Cottage Hill Road. Ample parking is available for the entire center. Recent upgrades to the shopping center include energy-efficient LED lighting and a fresh, modern color scheme. The property has a strong demographic profile, with an average household income within a one-mile radius exceeding $86,000 per year. Daily traffic counts on both Cottage Hill Road and Schillinger Road surpass 35,000 vehicles. The landlord is offering a build-to-suit option, allowing for customized construction to meet the specific needs of a suitable tenant. The annual lease rate is $3.5 per square foot. It is located at 2502 Schillinger Rd S.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    CLUB4 Fitness Schillinger Gym & Fitness Center Bella Vita Beauty ... Nail Salon west mobile liquor (Bike/Boat/Book/etc) Store Vitalife Vitamins & Supplements (Bike/Boat/Book/etc) Store Express Portable Toilet ... Production Facility

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store 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
    County
    Mobile
    State
    Alabama
    Longitude
    -88.2865
    Latitude
    30.6278

    Nearby Similar for Lease

    • Contact for pricing

      Mobile Commercial Space with Warehouse

      Office and warehouse space near Old Shell Road and I-65.
      166 Noel Avenue, Mobile, AL 36607
      View Details
    • Contact for pricing

      Retail Space Near Bel Air

      Affordable 850 SF retail space near Colonial-Bel Air Mall.
      3018-B Airport Boulevard unit: 2, Mobile, AL 36606
      View Details
    • Contact for pricing

      Move-in Ready Office Suite

      Functional 826 SF office suite with reception and conference room.
      574 Azalea Rd, Mobile, AL 36609
      View Details
    • Contact for pricing

      Mobile Office Suite For Rent

      1,165 SF office suite with flexible layout in Mobile.
      572 Azalea Rd, Mobile, AL 36609
      View Details
    • Contact for pricing

      Functional Warehouse Space For Lease

      Warehouse space with office component, suitable for various operations.
      4405 Halls Mills Rd, Mobile, AL 36693
      View Details
    • Contact for pricing

      Mobile Commercial Space For Rent

      Commercial space with easy access, gated yard, and ample parking.
      3151 Midtown Park S, Mobile, AL 36606
      View Details
    • Contact for pricing

      Mobile, AL Commercial Space

      Open warehouse with office, suitable for contractors and light industry.
      2565 Government Blvd, Mobile, AL 36606
      View Details
    • Contact for pricing

      Office Suite with Open Workspace

      488 SF office suite featuring two offices and open area.
      578 Azalea Rd, Mobile, AL 36609
      View Details
    • Contact for pricing

      Office/Warehouse with I-10 Access

      Stand-alone office/warehouse with fenced yard and convenient highway access.
      5425 Business Parkway, Mobile, AL 36582
      View Details
    • Contact for pricing

      Move-in Ready Mobile Office Space

      429 SF office space with reception and workspace.
      578 Azalea Rd, Mobile, AL 36609
      View Details
    • Contact for pricing

      Functional Office Suite For Rent

      Move-in ready office suite with efficient layout in Mobile, AL.
      572 Azalea Rd, Mobile, AL 36609
      View Details
    • Contact for pricing

      Move-in Ready Office Suite

      Compact 355 SF office suite for rent in Mobile.
      578 Azalea Rd, Mobile, AL 36609
      View Details

    FAQs

    What type of property is this?
    Land - 10,000 SF Schillinger Place Shopping Center - Land For Lease
    Where is this land located?
    The property is located at 2502 Schillinger Rd S Mobile, AL.
    What is the lease rate?
    The lease rate is $3 SF/Yr.
    (251) 342-7229
    We can help!
    Listing Contact
    Paul Salter
    Real Estate License ID: FL BK3105171
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!