Eight Mile Office/Warehouse on 4.5
For Sale
$519,000
4525 Schillinger Rd, Prichard, AL 36575
5,000SF Office/Warehouse Parcel: 4.5± AC For Sale
Property Size5,000 SF
Lot Size4.50 Acres
Price / SF$103.80
Days on Market563
Property Features for 4525 Schillinger Rd
General Information
Standard status
Active
Property type
Warehouses, Other industrial properties, Other office properties, Industrial properties, Office Spaces
Size
5,000 SF
Elevators
N/A
Lot size
4.50 Acres
Building Details
Buildings
1
Stories
1
Listing Agency:
(850) 564-0120
Listed By:
Paul
(850) 564-0120
Added: Feb 12, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This property features a 5,000 square foot office and warehouse building situated on a 4.5-acre parcel in Eight Mile, Alabama. It is located on Schillinger Road, between Highway 98 and Lott Road. The building's layout includes private offices, training rooms, storage space, a break room, and an open floor warehouse area. Access is facilitated by two drive-in doors, one loading dock, and one dock-high door. Approximately 15 parking spaces are available. All utilities are readily accessible. The front 3.11 acres of the property are high and dry, offering potential for future expansion or development, while the rear 1.43 acres appear wet and unsuitable for development. The surrounding area includes residential neighborhoods, multi-family developments, schools, churches, and a variety of commercial businesses. The property is located in the 36575 zip code.
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
$28,519
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
5.49%
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%
$570,380
$570.4K
Cap Rate 7%
$407,414
$407.4K
Cap Rate 9%
$316,878
$316.9K
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
$36.0K $7.20/SF
− Vacancy
−$2.4K −$0.49/SF
EGI
$33.6K $6.71/SF
− OpEx
−$5.0K −$1.01/SF
NOI
$28.5K $5.70/SF
Area
Mobile County, AL
Vacancy
6.80%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
15.00%
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%
$570,380
Cap Rate 7%
$407,414
Cap Rate 9%
$316,878
Alternative Uses
Best Use
Office B
$926.1K
$810.3K – $1.08M
NOI $64,827 @ 7.0% cap · market cap 12.49%
Second Best
Warehouse
$407.4K
$356.5K – $475.3K
NOI $28,519 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,234 @ 7.0% cap · market cap 16.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 36575, AL
20,640
Population
8,488
Households
2.4
Avg Household Size
38
Median Age
21%
College-Educated
92%
High-School Grad
40.1 sq mi
ZIP Area
515
Density / Sq Mi
$69,381
Median Household Income
$44,462
Median Earnings
$1,063
Median Rent
$193,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 5,000SF Office/Warehouse Parcel: 4.5± AC For Sale
Where is this warehouse located?
The property is located at 4525 Schillinger Rd Prichard, AL.
What is the asking price?
The asking price for this property is $519,000.
