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

    1146 Leroy Stevens Rd Mobile, AL 36695

    View on Map
    Sponsored
    Source: https://www.saltercompany.com
    For Lease
    $1,500 /Mo ($7 SF/Yr)

    Modern Office, Warehouse Space Available

    Lot size:
    2,337 SF

    Property Features for 1146 Leroy Stevens Rd

    General Information

    Property type
    Warehouses
    Lease Type
    Gross
    RSF (Rentable sq. ft)
    2,337 SF
    USF (Usable sq. ft)
    2,337 SF
    Elevators
    N/A
    Total Rate
    1500
    Lease Term
    1-2 Years

    Amenities

    Building Details

    Year Built
    1988
    Buildings
    1
    Stories
    1

    Overview

    West Mobile Office & Warehouse

    This 2,337-square-foot commercial property in West Mobile, Alabama, offers a blend of office and warehouse space. It features two private offices, a reception area, and a 990-square-foot warehouse. Recent upgrades include a fresh coat of paint applied in 2022, and an HVAC system and hot water heater installed in 2021. The property is classified as a warehouse and flex space. The usable square footage mirrors the rentable square footage at 2,337 square feet. The space is available for lease under a gross lease agreement with a term of 1-2 years, at a monthly rate of $1,500. This is a gross lease, meaning the rent includes taxes and other common area charges.

    We can help!

    Listing Contact
    Paul Salter

    Learn more

    Property Insight Report

    HighLights

    • 2,337 square foot office and warehouse space in West Mobile, Alabama.
    • Includes two offices, reception area, and a 990 sq ft warehouse.
    • Recently updated with fresh paint (2022) and new HVAC/water heater (2021).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Clarke C Kendall Engineer

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    State
    Alabama
    Longitude
    -88.23724
    Latitude
    30.666342

    Nearby Similar for Lease

    • New
      $1,800 /Mo
      19,972 SF

      Mobile Commercial Space with Warehouse

      Office and warehouse space near Old Shell Road and I-65.
      166 Noel Ave, Mobile, AL 36607
      View Details
    • $3,900 /Mo
      28,035 SF

      Mobile Commercial Space For Rent

      Commercial space with easy access, gated yard, and ample parking.
      3151 Midtown Park S, Mobile, AL 36606
      View Details
    • $6,000 /Mo
      40,946 SF

      Modern Office and Warehouse Space

      Versatile Theodore, Alabama office and warehouse space for rent.
      5578 Sermon Rd W, Theodore, AL 36582
      View Details
    • $7,875 /Mo
      37,610 SF

      Hillcrest Road Commercial Office Space

      Commercial building suitable for business or medical office use.
      1565 Hillcrest Rd, Mobile, AL 36695
      View Details
    • $9,800 /Mo
      39,853 SF

      Office/Warehouse with I-10 Access

      Stand-alone office/warehouse with fenced yard and convenient highway access.
      5425 Business Park Way, Theodore, AL 36582
      View Details
    • $425 /Mo
      4,147 SF

      Office Suites with Water Access

      Individual office suites available, some with private restrooms and water.
      5300 Overlook Rd, Mobile, AL 36618
      View Details
    • New
      $501 /Mo
      429 SF

      Move-in Ready Mobile Office Space

      429 SF office space with reception and workspace.
      578 Azalea Rd, Mobile, AL 36609
      View Details
    • New
      $968 /Mo
      830 SF

      Functional Office Suite For Rent

      Move-in ready office suite with efficient layout in Mobile, AL.
      572 Azalea Rd, Mobile, AL 36609
      View Details
    • $1,250 /Mo
      35,005 SF

      Retail/Office Space in Chickasaw

      Versatile space suitable for retail, office, or salon.
      355 Craft Hwy N, Mobile, AL 36611
      View Details
    • $1,600 /Mo
      40,685 SF

      Retail Space on Cottage Hill

      Retail space with great visibility and utilities included.
      5301 Cottage Hill Rd, Mobile, AL 36609
      View Details
    • Sponsored
      Contact for pricing

      AL, Mobile - Cottage Hill Rd

      Workspaces, services and support to help you work better in AL, Mobile - Cottage Hill Rd
      3100 Mobile St, Mobile, AL 36606
      View Details
    • $950 /Mo
      5,014 SF

      Charming Cottage on Cottage Hill

      Cottage ideal for office, retail, or salon.
      811 Wildwood Dr, Mobile, AL 36693
      View Details

    FAQs

    What type of property is this?
    Warehouse - Modern Office, Warehouse Space Available
    Where is this warehouse located?
    The property is located at 1146 Leroy Stevens Rd Mobile, AL.
    What is the lease rate?
    The lease rate is $7 SF/Yr.
    What are key features of this property?
    This property features:
    (251) 545-5215
    Request Owner's contact information
    1146 Leroy Stevens Rd Mobile, AL 36695
    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.
    1146 Leroy Stevens Rd
    Mobile, AL 36695
    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
    1146 Leroy Stevens Rd Mobile, AL 36695
    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

    We can help!
    Listing Contact
    Paul Salter
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!